Scribd
Upload
66 views

Class 1-Introduction To CRM

CRM stands for Customer Relationship Management. It is a company-wide business strategy designed to optimize profitability and customer satisfaction by focusing on highly defined and precise customer groups. There are three main types of CRM: strategic CRM focuses on winning and keeping profitable customers, operational CRM automates customer-facing processes like sales and marketing, and analytical CRM transforms customer data into insights. The benefits of CRM include increased customer satisfaction, access to customer histories, and improved customer service.

Uploaded by

Aneesh Sasidharan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
66 views

Class 1-Introduction To CRM

CRM stands for Customer Relationship Management. It is a company-wide business strategy designed to optimize profitability and customer satisfaction by focusing on highly defined and precise customer groups. There are three main types of CRM: strategic CRM focuses on winning and keeping profitable customers, operational CRM automates customer-facing processes like sales and marketing, and analytical CRM transforms customer data into insights. The benefits of CRM include increased customer satisfaction, access to customer histories, and improved customer service.

Uploaded by

Aneesh Sasidharan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 14

Misconceptions about CRM

• CRM is merely database marketing

• CRM is a marketing process

• CRM is an IT issue

• CRM is about loyalty schemes

• CRM can be implemented by any company


CUSTOMER RELATIONSHIP
MANAGEMENT
Definition : CRM is the core business strategy that integrates internal
processes and functions, and external networks, to create and deliver value to
targeted customers at a profit. It is grounded on high-quality customer-related
data and enabled by information technology.

A company-wide business strategy designed to optimize profitability and


customer satisfaction by focusing on highly defined and precise customer
groups.
Types of CRM
Strategic CRM is a core customer-centric business strategy that
Strategic
aims at winning and keeping profitable customers.

Operational CRM focuses on the automation of customer-facing


Operational
processes such as selling, marketing and customer service.

Analytical CRM is the process through which organizations


Analytical transform customer-related data into actionable insight for either
strategic or tactical purposes.
Strategic CRM

Major Business Logics/Orientations


• Product Oriented • Production Oriented

• Sales Oriented • Market/Customer Oriented


Operational CRM
Sales Force
Marketing Automation Service Automation
Automation
• Account Management
• Case Management
• Campaign Management • Lead Management
• Customer
• Event-Base Marketing • Opportunity
Communications
Management
• Marketing Optimization Management
• Pipeline Management
• Queuing & Routing
• Contact Management
• Service Level
• Product Configuration
Management
• Quotation & Proposal
Generation
Analytical CRM
CRM Cycle
Stakeholders in CRM

CRM Managemen
Customers Social Media
Companies Software Vendors t
& Partners Players
Houses Consultants
Essential attributes of CRM

•Workflow Automation •Lead management

•Customization •Real-time data 

•Third-party integration •CRM analytics

•Customer service •Reporting 

•Employee tracking •Sales forecasting

•Social media  •Email 


Benefits of CRM
• Develop better communication channels
• Collect customer related data and create detailed profiles of individual
customers
• Increased customer satisfaction
• Access to customer account history, order information, and customer
information at all touch points
• Identify new selling opportunities
• Increased market share and profit margin, increased revenues
• More effective reach and marketing

• Improved customer service and support

• Improved response time to customer requests for information

• Enhanced customer loyalty

• Improved ability to meet customer requirements

• Improved quality communication and networking

• Reduced costs of buying and using product and services

• Better stand against global competition


Advantages of CRM
• It allows for the consolidation of customer data and the basis for deep insights.

• It speeds up the sales conversion process and increases staff productivity, lowering time-cost.

• It allows geographically dispersed teams to collaborate effectively.

• Improves customer experience by allowing personalisation and improved query resolution

• Increase customer retention, favor repeated purchases, increase profit and improve the quality of

the products/services provided.

• Supports planning and control activities, CRM can be used to analyze current trends, forecast

future trends and monitor the evolution of the demand overtime.


Disadvantages of CRM

• The excess initial time and productivity cost at the implementation.

• Security and data protection issues with centralised data

• May lead organizations to discriminate between customers. More profitable


customers may enjoy better treatments and conditions than occasional
customers.

You might also like