Customer Relation MGMT

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CUSTOMER RELATIONSHIP MANAGEMENT
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Topics to be covered
CRM applications Growth of CRM applications CRM as an enabler of customer centric strategy
ENTERPRISE WIDE INFORMATION SYSTEMS
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What is CRM???
CRM is the development and maintenance of mutually beneficial long-term relationships with strategically significant customers CRM is an IT enhanced value process, which identifies, develops, integrates and focuses the various competencies of the firm to the voice of the customer in order to deliver long-term superior customer value, at a profit to well identified existing and potential customers.

ENTERPRISE WIDE INFORMATION SYSTEMS 3
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Becoming a common and important concept in many industries Beyond mere Contact Management Most industries have CRM software to help sales process, on-going service, and even accounting The Plan: Every successful endeavor requires proper planning. Successful CRM rarely happens by chance. Many organizations jump to implementation w/o proper planning. The Practice: Systematic implementation of your plans. Should produce measurable results. Should be evaluated and refined over time.

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Understanding CRM
CRM is a business philosophy based on upon individual customers and customised products and services supported by open lines of communication and feedback from the participating firms that mutually benefit both buying and selling organisations. The buying and selling firms enter into a learning relationship, with the customer being willing to collaborate with the seller and grow as a loyal customer. In return,, the seller works to maximize the value of the relationship for the customers benefit. In short, CRM provides selling organisations with the platform to obtain a competitive advantage by embracing customer needs and building value-driven long-term relationships.
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Determinants of CRM
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Trust: The willingness to rely on the ability, integrity, and motivation of one company to serve the needs of the other company as agreed upon implicitly and explicitly. Value : The ability of a selling organisation to satisfy the needs of the customer at a comparatively lower cost or higher benefit than that offered by competitors and measured in monetary, temporal, functional and psychological terms.

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Understand customer needs and problems; Meet their commitments; Provide superior after sales support; Make sure that the customer is always told the truth (must be honest); and Have a passionate interest in establishing and retaining a long- term relationship (e.g., have long-term perspective).

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Value of CRM
Gain more control in interaction with customers Manage expectations better Understand what customers really want Provide products that better serve customers Increase trust Competitive advantage

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Evolution of CRM
Concept started with database marketing in the 1980s. Database marketing focused on important clients and to keep the communication lines open with them and cater to their needs as and when required. The database information was restricted to what they buy regularly, what they spend and what they do. In the 1990s CRM evolved as a tool that enabled marketers enhance customer service and offer gifts and incentives to loyal customers.

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This was in the following form: 1. Frequent flyer programs 2. Bonus points on credit cards 3. Customer activity and spending patterns. By early 2000s software companies released advanced solutions that were customizable. Customer needs and behavior could be studied on a continuous basis. The Internet gave a huge benefit to the development of these vast databases by enabling offsite information storage.

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1. 2.
1. 2. 3.
Today CRM is utilized by most companies that depend heavily on two features: Customer service Technology The 3 sectors of business that rely heavily on CRM: Financial services Telecommunications High technology corporations
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CRM as an enabler of customer centric strategy
CRM involves three customer centric functions. 1. Attracting new customers Continuously offering the latest innovative products This has to be coupled with good customer service Pleasing of customers by solving queries timely
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2. Generating more business from existing customers Enhancements can be done by cross selling Cross selling is suggesting to the customers that they can buy certain products that are complementary to the purchases already done by them. Similarly enhancements can be done by up selling Up selling is to suggest a better quality product over what the customer had purchased earlier. Companies have realized that call center applications with CRM capabilities are a must.
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3. Retaining profitable customers 80% of organizations business is derived from the top 20% customers Hence priority must be given to such customers This requires a thorough understanding of the customers. Customer retention is a difficult task in times of competitions. Hence this requires lot of thinking process.
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Enhancing customer satisfaction
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National Weather S e r Customer Relationship Management (CRM) System vice

Web-based System designed to Capture & Track Customer Requests Manage Tasks & Workflow Assess Customer Satisfaction Provide Timely FAQ Responses & Email Acknowledgements Report Performance
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Integration of ERP and CRM
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The late 1990s saw a decline in the ERP market due to the following reasons: Average time taken for ERP implementation was too high Internet paved the way for e commerce with a rise in customers expectations. ERP as a lone system did not bring changes that took place across the globe Y2K concerns affected many application projects.
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Siebel systems a CRM vendor concentrated on offering CRM products. It offered front office applications that faced the real demands of customers. This gave the initiation to ERP vendors to think about offering CRM solutions to organizations.

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Obstacles to integration
Nature of ERP and CRM differed significantly. ERP was more on back office processing while CRM was operating in a dynamic environment. Compatibility problems arose. To integrate solutions of different vendors synchronized components with a centralized architecture was provided. For integrating CRM/ERP systems with the web, XML was the emerging language. XML enabled transfer of data across different systems when connected through the Internet.
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Benefits of integration
It avoids redundancies and delays It allows visibility across all departments of organization. Improves over all performance of the organization This reduces cost of maintaining people to answer the queries and improves customer satisfaction.
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CASE STUDY CRM in ICICI Bank
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What is CRM???
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CRM allows organizations to build customer relationships, deliver consistent, world-class service Drives down total cost through greater productivity Includes the entire gamut of activities, methods and tools to ensure higher level of customer satisfaction Involves seamless coordination between sales, customer service, field support and other functions that touch the customer CRM is an integration of people, process and technology
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What is CRM (Banking)
Customer has an account at Noida branch in Delhi He withdraws Rs. 5000 cash from an ICICI Bank ATM He finds a debit of Rs. 10000 made from his account for the same transaction He lodges a complaint at the nearest branch He travels to Mumbai, where he would like to know the status of the complaint

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This is where CRM comes into the picture Even though the complaint was lodged at Delhi, details of the same would be available across all touch points due to CRM In the absence of CRM, only the branch at Delhi will have information about the status of the complaint With CRM, the status of a complaint/query would be available to all channels at a given point of time

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BENEFITS OF CRM
It is a lot cheaper to retain a customer than to acquire a new customer The cost of acquiring a new customer is 5 times more than that of retaining one Once you have a customer you should do everything to retain him/her Develop your business with them Successful relationships generate trust Equal importance on both Customer Satisfaction and Customer Retention

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Tool for CRM Implementation Siebel
CRM implementation can be done through a wide range of products e.g. Clarify, Oracle 11i, Siebel etc Of the total market share for CRM Products, Siebel accounts for nearly 70% It meets the most rigorous sales, marketing and, customer service information requirements Siebel Enterprise Applications enables Sales Marketing Customer service support
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BENEFITS OF SIEBEL
To automate the sales and service processes for multiple products across multiple channels, to give a seamless experience to the customer Faster turn around time for resolution of issues Greater productivity, reduction of administrative tasks Better tracking of customer queries and complaints Better reporting, control and management Greater Customer satisfaction Information at the click of a mouse. Reduces the need for follow ups
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Call Center is one of the very first users of Siebel in ICICI Bank. The System went live in the Call Center from December, 2001 Call Center is using Siebel for the following products :
Retail Banking Home Loans Auto Loans I-direct/Web trade Demat
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Before SIEBEL @ OPS
Operations used to receive emails from call center, branches , customers. There was no effective way of tracking customer complaints or offering resolutions. Everyone was confused as to which department or to whom a query was to be sent. This resulted in the query turning into complaint. Also it increased the customer ire for delayed, incomplete or wrong response

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WHY OPERATIONS USED SIEBEL?

Problem in Old system Majority of the complaints relate to operational units.
We need to have an efficient work mechanism for routing and receiving messages To have a control on TAT for pending numbers
With a view to improve processes To study the reasons for complaints Who is responsible for the complaint
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THE ROAD AHEAD

All branches to extensively use Siebel for Customer requests Give the SR No. on the spot to customers Migrate the customers to Phone banking to know the status of the SR Going live with Opportunities in Siebel so that leads can be put in by front office staff

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THE END
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Customer Relation MGMT

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CUSTOMER RELATIONSHIP MANAGEMENT

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

CRM as an enabler of customer centric strategy

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

Enhancing customer satisfaction

ENTERPRISE WIDE INFORMATION SYSTEMS

National Weather S e r Customer Relationship Management (CRM) System vice

ENTERPRISE WIDE INFORMATION SYSTEMS

News Organization Search

to view the answer.

ENTERPRISE WIDE INFORMATION SYSTEMS

Submit Question To The Answer Desk

Affiliation: ** Category: ** Question: Details:

Privacy Notice Credits

ENTERPRISE WIDE INFORMATION SYSTEMS

Exit system if FAQ answered question

Privacy Notice Credits

ENTERPRISE WIDE INFORMATION SYSTEMS

Please complete the short survey below

Privacy Notice Credits

ENTERPRISE WIDE INFORMATION SYSTEMS

Integration of ERP and CRM

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

CASE STUDY CRM in ICICI Bank

ENTERPRISE WIDE INFORMATION SYSTEMS

What is CRM (Banking)

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

Tool for CRM Implementation Siebel

ENTERPRISE WIDE INFORMATION SYSTEMS 31

ENTERPRISE WIDE INFORMATION SYSTEMS 32

ENTERPRISE WIDE INFORMATION SYSTEMS

Before SIEBEL @ OPS

WHY OPERATIONS USED SIEBEL?

ENTERPRISE WIDE INFORMATION SYSTEMS

THE ROAD AHEAD

ENTERPRISE WIDE INFORMATION SYSTEMS

ENTERPRISE WIDE INFORMATION SYSTEMS

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