customer relationship management implementation roadmap crm requires integrating the front- end...
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Customer Relationship ManagementCourse Handout- Week 6
Shainesh GProfessor of Marketing Indian Institute of Management Bangalore
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Components of a CRM Solution
Technology, including digital, plays a key role in enabling CRM implementation. Three important components of any comprehensive CRM solution-
Campaign management
Sales force automation
Customer service and support
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© Shainesh G
Components of a CRM Solution
Campaigns are usually conducted-
On the launch of a new product
On the re-launch of an existing product
To strengthen the brand image
For a specific occasion
When new versions of an existing product are launched
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© Shainesh G
Components of a CRM Solution
SFA enables the sales team to become more effective & efficient, by conveying the right information to the prospects and customers in the very first interaction.
SFA offers the following functionalities-
Interface with the campaign management module
Guide prospects to the right sales representatives
Contact management
Account management
Territory management
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Components of a CRM Solution
The interactions between a company and customer is very crucial after the customer has purchased the product. Efficient after-sales service is one way firms can retain customers.
CSS helps enhance customer loyalty.
It helps organizations automate the customer service cycle.
Digital technologies and analytics are increasing the self-service capabilities of CSS.
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CRM Implementation Roadmap
CRM requires integrating the front- end customer facing functions with the back-end systems. CRM strategy should involve the top management and all customer facing functional areas.
The CRM implementation roadmap, has the following steps :
Formation
Management and governance
Performance measurement
Evaluation and evolution
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CRM Implementation Roadmap
The formation stage consists of the following steps
Scenario analysis
Purpose
Programs
Partners
While the formation stage focusses on the strategic part, the management and governance stage focusses more on the implementation part
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CRM Implementation Roadmap
The focus of the third stage is on performance.
The final stage of the CRM implementation roadmap focusses on improvements and enhancements. Improvements are determined by your performance metrics
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Operational Issues in Implementing CRM
When firms decide to implement a technology solution for CRM, they will have to take decisions broadly related to
Product
Vendor
Systems Integrator
Ability to handle the three customer facing functions, namely marketing, sales, and customer service, very well.
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© Shainesh G
Operational Issues in Implementing CRM
Product and the vendor related decisions go hand-in-hand. A vendor is generally evaluated for CRM expertise
Most product vendors today have tie-ups with systems integrators to be the preferred systems integrator.
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Budgeting for Attraction Vs Retention
The emphasis of traditional marketing was on attraction rather than retention
Relationship marketing focuses on customer retention
However, attracting new customers is equally important to balance customer churn
In a growing industry, customer attraction as well as retention are equally important
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Issues to be Considered Before Allocating Resources
Nature of industry
Growth rate of industry
Position of firm in the industry
Uniqueness of a firm’s service
Readiness of a firm
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