Customer Relationship

Management
What is CRM?
 It is process or methodology used to learn
more about customers' needs and
behaviors in order to develop stronger
relationships with them.

 set of methodologies, software, and usually

Internet capabilities that help an enterprise
manage customer relationships in an
organized way.
Components of CRM
Contact and Account
Management
 Relevant data for customer profile is captured with the help of
software.
 Necessary information is captured from prospective
customers.
 CRM system stores data in common customer database.
 The database integrates customer account information and
present it in desirable format to the company.
 This database can be accessed on Internet, intranet and on
other network links.
 The data is used for sales, marketing, services and other
applications.
 The contact management software contains various modules
of databases, displays, charts, workflow programs.
Sales
 Sales process management follows a customized
sales methodology with specific sales policies and
procedures.
 Sales activities include - Product information,
product configuration, sales prospectus, sales quote
generation.
 CRM also provide the history of customer account
so that the sales call can be scheduled accordingly.
Marketing and Fulfillment
 CRM helps the professionals in product marketing,
target marketing, relationship marketing and
campaign management.
 By analyzing customer and business value of direct
marketing can be estimated.
 CRM also helps in customer retention, behavior
prediction, channel optimization, personalization.
 Customer response and requests can be quickly
scheduled and hence sales contacts.
Customer Service and
Support
 CRM system provides service representatives with adequate
software tools and access to customer database. It also helps to
create, assign and manage the service requests by customers.
 Call center software is designed to route customer calls to
respective attendants as per the skills and authority to handle
special cases.
 Help desk software is developed to help customer service
representative to help customers who face problems with
product or service to resolve it.
 Web-based Self Service means help customer to access
personalized information at company website.
Retention and Loyalty
programs
 The primary objective of CRM is to enhance and
optimize customer retention and loyalty.
 CRM systems are also useful in determining most
loyal and profitable customers and reward.
 CRM analytical software includes determining tools
and analytical marketing software whereas CRM
databases consists of customer data ware house
and CRM data marts.
Phases of CRM
Acquisition :

 techniques used to form relationships with

new customers to achieve an online sale.
 For achieving this special CRM software
tools and databases are used.
 The main purpose of this CRM function is to
make aware the customer about the superior
product by a distinguished company.
Enhance

 to keep customer satisfied and happy to

offering superior service from specialists.
 The profitability of the business is increased
by CRM sales for a automation and direct
marketing.
 The customer experience the convenience of
one stop shopping at reasonable prices.
Retention

 Customer retention refers to the actions an

organization takes to retain existing customers i.e.
the techniques to maintain relationships with existing
customer.

 The customer retention has two distinct goals.

1. To retain customers of the organizations (repeat
customers).
2. To keep customers using online channel (repeat
visits).
CRM : Benefits
 Excellent customer service is about being aware of customer
needs and reacting to them effectively.

 CRM helps you to understand, anticipate and respond to your

customers' needs in a consistent way, right across organization.

 CRM will help your business if you view it as a set of tools that
let you do more for, and get more from, your customer.

 Keeps all your customer information in one place.

 Know and understand your customers.

 Know your best revenue opportunities.

 Spot the best sales campaigns.

Advantages Of CRM

Using CRM, a business can :

 Provide better customer service

 Increase customer revenues

 Discover new customers

 Help sales staff close deals faster

 Make call centers more efficient

 Simplify marketing and sales processes

Challenges of CRM

 Problems of collecting and coordinating

substantial data can lead to privacy
problems.
 Firms still need to be sensitive to customer
wishes about unsolicited contacts. Customer
privacy request needs to be a part of CRM.
Integrated CRM

Customer Life Cycle

Acquire Enhance Retain

Functions

Direct Mktg Cross-sell & Up-sell Proactive Service

Sales Force Automation Customer Support

Integrated CRM Applications