(06)rohit bhosale

8/12/2019 (06)Rohit Bhosale

1/19


2/19

Customer relationship management (CRM) is a model for managing a companysinteractions with current and future customers.

It is a strategy used to learn more about customers' needs and behaviors in order to

develop stronger relationships with them. The goal of CRM is to optimize customer satisfaction and revenue though relationship built

with potential current customer across the business function.

DEFINITION OF CRM

CRM is concerned with the creation, development and enhancement of individualizedcustomer relationships with carefully targeted customers and customer groups resulting in

maximizing their total customer life-time value


3/19

The CRM is a new technique in marketing where the marketer tries to develop long term

relationship with the customers to develop them as life time customers.

CRM aims to make the customer climb up the ladder of loyalty.

(CRM) is to produce high customer loyalty, satisfaction, and earn a long-term relationship

with them.


4/19

OPERATIONAL CRM:

ANALYTICAL CRM:

COLLABORATIVE CRM:


5/19

HISTORY OF CRM 1980s: Database helped larger organizations rather than small who only got survey type

info.

1990s: CRM appears as a two-way communication device.

1990s: CRM leads to programs such as frequent flyer miles and bonus points on credit

cards.

2000s: Internet has helped expand from stagnant database and allows off-site information

storage.

2000s: Used most frequently in financial services, high tech corporations and the

telecommunications industry.


6/19

These are a few major considerations in evaluating the best CRM solution for company

business.

1. CRM ROI.

2. EASE OF USE.

3. SUPPORT.

4. CUSTOMIZATION.5. SIMPLIFIED WORKFLOW.


7/19

TRADITIONAL APPROACH TO CRM.

CLOSER RELATIONSHIP WITH CUSTOMER. FINANCIAL BENEFITS.

TELEPHONE.

MAIL.

COMPLAINT HANDLING.

PERSONAL SELLING. CRM PROCESS FRAMEWORK

CRM FORMATION PROCESS.

RELATIONAL PARTIES.

CRM PROGRAMS.

PERFORMANCE EVALUTION.


8/19

Customer Database Management

Customer database management software stores, organizes, and analyzes customerInformation. That customer information can include:

Customer activity data sales, promotions, customer support, surveys, website visits,interaction frequency.

Demographic data education levels, zip code, salary bands, age group, religiousaffiliation, home owner/renter, marital status, loyalty.

Psychographic data -(sometimes referred to as interest, attitudes, and opinions or IAO)

social class, lifestyles, behavior, opinions, values, hobbies

DATABASE MANAGEMENT


9/19

The eCRMor electronic customer relationship managementencompasses all the CRM

functions with the use of the net environment i.e., intranet, extranet and internet.

DIFFERENT LEVELS OF ECRM .

FOUNDATIONAL SERVICES:

CUSTOMER-CANTERED SERVICES

VALUE-ADDED SERVICES:

STEPS TO ECRM SUCCESS Developing customer-centric strategies. Re-engineering work processes.

Supporting with the right technologies.


10/19

services that aim at nurturing customer relationships, acquiring or maintaining customers,

support marketing, sales or services processes, and use wireless networks as the medium ofdelivery to the customers.

DEFINITION OF MCRM:

"communication, either one-way or interactive, which is related to sales, marketing and

customer service activities conducted through mobile medium for the purpose of building andmaintaining customer relationships between a company and its customer(s).

ADVANTAGES OF MOBILE CRM

The mobile channel creates a more personal direct connection with customers.

It is continuously active and allows necessary individuals to take action quickly using the

information.

Typically it is an opt-in only channel which allows for high and quality responsiveness.


11/19

Data mining tools identify patterns in data and deliver valuable new information that can

increase a companys understanding of itself and its customers. The three types of data

mining are:

PREDICTION

SEQUENCE ASSOCIATION

DIFFERENT APPROACHES TO DATA MINING.

OUTSOURCING.

OFF-THE-SHELF, TURN-KEY SOFTWARE SOLUTIONS.

MASTER DATA MINING.

DATA MINING


12/19

APPLICATIONS OF TECHNOLOGY IN CRM.

CALL CENTERS.

WEB BASED SELF-SERVICE.

COMPLAINT HANDLING.

CUSTOMER CARE.

INFORMATION TECHNOLOGY AND CRM

AUTOMATIC CALL DISTRIBUTION.

CALL PROCESSING INVOLVES.

PREDICTIVE DIALING.

INTERACTIVE VOICE RESPONSE.


13/19

WHAT EXACTLY IS CRM SOFTWARE

CRM stands for Customer Relationship Management and while CRM does refer to a programto manage customer information the better CRM software does much more than that. CRM

software not only allows the organizing of customer information.

TODAY'S CRM SOFTWARE.

CRM software is commonly used to manage a business-customer relationship, however CRM

software systems are also used in the same way to manage business contacts, clients,

contract wins and sales leads.

CRM USED INSOFTWARE.used to describe a category of enterprise software that covers a broad set of applications

and software to help businesses manage customer data and customer interaction, access

business information, automate sales, marketing and customer support and also manage

employee, vendor and partner relationships.


14/19

CRM for the construction industry.

CRM AT METLIFE

CRM in Indian insurance sector

LIC OF INDIA

RELIANCE LIFE INSURANCE:

BIRLA SUN LIFE INSURANCE


15/19

MAJOR REASONS FOR FAILURE OF CRM

CRM STRATEGY NOT CLEAR

TECHNOLOGY ERRORS

PEOPLE ERRORSREASONS WHY CRM ADOPTION FAILS

NO VISION.

OGRAM NOT A PROCESS.

SAME STUFF DIFFERENT DAY.

TEAM DYNAMICS


16/19

SOME NOTEWORTHY CRM INITIATIVES OF ICICI BANK.

MOBILE ATMS

BULK DEPOSITS

OTHER SERVICES THROUGH ATMS:

PREPAID MOBILE RECHARGE

MOBILE BANKING BENEFITS:

Locating ATM.

Locating branch.

Locating drop box.

Alert facilities like salary credit, account debit/credit, cheque bounce, etc.


17/19

1. To study the current practices of CRM.

2. To find out the impact of CRM on the profitability of the organization.

3. To study the factors affecting the CRM practices.

4. To study the role of information technology in CRM.


18/19

Customer relationship management (CRM) is a widely implemented strategy for managing a

companys interactions with customers, clients and sales prospects.

For CRM to have a considerable impact on any organization, enterprise-wide communication

and commitment are required.

To stay competitive, there is no question business could benefit from CRM technology.


19/19

(06)rohit bhosale

Documents