crm lecture 1 1
TRANSCRIPT
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Masters in FMSCo-Taught By : Ms.Dimple,
Assistant Professor, FMS DepartmentNIFT-Delhi
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According to Merriam Webster, a Customer is:1 : one that purchases a commodity or service2 : an individual usually having some specified distinctive trait <a real tough customer>
According to the Princeton WordNet Bank, a Customer is:someone who pays for goods or services
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According to Princeton’s WordNet Bank:a relation between people; (`relationship' is often used where `relation' would serve, as in `the relationship between inflation and unemployment', but the preferred usage of `relationship' is for human relations or states of relatedness); a state of connectedness between people (especially an emotional connection); "he didn't want his wife to know of the relationship" a state involving mutual dealings between people or parties or countries kinship: (anthropology) relatedness or connection by blood or marriage or adoption
According to Merriam Webster, a relationship is:1: the state of being related or interrelated <studied the relationship between the variables>2: the relation connecting or binding participants in a relationship: as a: kinship b: a specific instance or type of kinship3 a: a state of affairs existing between those having relations or dealings <had a good relationship with his family>
b: a romantic or passionate attachment
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Ongoing process of managing customer relationships using a synergistic blend of the triad.
Broad terminology used to cover concepts used to manage relationships
Key factor involved in making a potential customer into a brand ambassador
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They outweigh the failures by far Decrease the sales cycle while increasing
sale performance Improve revenue rates/customer Reduced lead generation cost Increased productivity
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3 Key aspects that can be implemented in isolation
Operational CRM Collaborative CRM Analytical CRM
META Group developed concept in late-1990s dubbed “CRM Ecosystem”
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The CRM System
Marketing
Sales
Service
Management
CustomerOperational CRM
SharedSharedData BaseData Base
DataDataWarehouseWarehouse
AnalyticalCRM
AnalyticalCRM
OperationalCRM
OperationalCRM
Analytical CRM
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Understand what motivates your customers Customise services and products Deliver good service Make it easy and useful Prioritise profitability
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Develop better communication channels Collect vital data, like customer details and
order histories Create detailed profiles such as customer
preferences Deliver instant, company-wide access to
customer histories Identify new selling opportunities
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Developing the organizational performance includes:
develop the performance program frameworkIdentify dimensions and how these will measure the outcomesCreate a list of performance measures and indicators that will determine if the dimension is meeting the performance driven CRM
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