UNDERSTANDING CRM & CX

By: Ravi Shankar Azad

What is CRM?

It is a system for managing a company’s interactions with its current and future customers.

CRM

Sales

Marketing

Customer Service

Technical Support

Characteristics of CRM

Relationship management - customer oriented feature

Sales force automation - sales promotion analysis, automate tracking of a client’s account history

Use of technology - data warehouse technology

Opportunity management - forecasting model and sales projections

Step of CRM Implementation

Analyze Planning Implementation

Testing & Quality

Assurance

Deployment & Training

Marketing1) target customers 2)Manages marketing campaigns3)Generates quality leads for the sales team

Sales and Account Management1) Improve sales management 2) Improve structure of existing sales processes 3) Give sales staff better support tools 4) Insight into organisational sales status

Build Customer Relationships1) Improve relationships with customers 2) Customer retention by improving customer satisfaction 3) Identify best customers and provide them the highest level of service

Empower Your Employees1) Provide employees with the information they need 2) Help your employees understand customer needs

Integrate your Partners1) Provide partners with the means to share information 2) Track partner activity

Benefits of Implement

ing CRM

Difficulties in Implementing CRM:

The difficulties of implementing these systems into pre-existing business systems.

Time and Cost associated with implementing CRM.

Requirement of Training for employees.

Why do CRM projects fail? Simply investing in CRM technology would not address

ineffective business process, dirty data, misaligned key performance indicators or missing strategic plans.

Common reason - they do not deliver the functionality they should. The project starts out without any clear milestones along the way. By doing this a customer, have no chance in controlling the delivery as the project goes along. The risk of failure will increase.

Partial Deliveries - This will reduce the complexity and risk of failure.

Solution:

CRM Software Vendors

54.1

16.1

12.8

10.26.8

Market Shares (2013)

OthersSalesforce.comSAP AGoracleMicrosoft CRM

What is CX?

Customer experience (CX) is the sum of all experiences a customer has with a supplier of goods and/or services.

What is CXM?

Customer experience management involves strategy that focuses the operations and processes of a business around the needs of individual customers.

The customer experience has emerged as the single most important aspect in achieving success for companies across all industries

For example: Starbucks spent less than $10MM on advertising from 1987 to 1998 yet added over 2,000 new stores to accommodate growing sales.

3 steps to getting customer experience management right

Create and maintain complete customer profiles.

Personalize all customer interactions.

Get the right information to the right place at the right time – every time.

Benefits of Customer Experience Management:

Strengthen brand preference.

Boost revenue with incremental sales from existing customers and new sales from word of mouth.

Improve customer loyalty through valued and memorable customer interactions.

Lower costs by reducing customer churn.

Customer-experience management is no substitute for good product design and proper product engineering

Limitation

References: http://en.wikipedia.org/wiki/Customer_relationship_manage

ment http://www.perfectmind.com/BusinessCRM/benefits-of-using-

crm-for-your-business http://www.crmasiasolutions.com/online-business-solutions-

articles/6/77-benefits-of-crm.html http://www.wisegeek.com/what-are-the-disadvantages-of-cu

stomer-relationship-management.htm http://en.wikipedia.org/wiki/Customer_experience http://www.sas.com/en_us/insights/marketing/customer-exp

erience-management.html http://smallbusiness.chron.com/benefits-customer-manage

ment-58015.html

Thank You