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Main Project

Main Project

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Published by tauseefnsr
As CRM is a multi facet technique or program that can be implemented in practically any sector of the economy, right from manufacturing sector to service sector, this project consist of case studies from different sectors like Hewlett Packard, Bharti Televentures, Pfizer – a pharma company, Wockhardt – Hospitals and HDFC from Banking and Financial Sector.
As CRM is a multi facet technique or program that can be implemented in practically any sector of the economy, right from manufacturing sector to service sector, this project consist of case studies from different sectors like Hewlett Packard, Bharti Televentures, Pfizer – a pharma company, Wockhardt – Hospitals and HDFC from Banking and Financial Sector.

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CRM Programs

One-to-one Marketing

Meeting and satisfying each customer’s need uniquely and individually. In the mass
markets individualized information on customers is now possible at low costs due to the
rapid development in the information technology and due to availability of scalable data
warehouses and data mining products. By using online information and databases on

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individual customer interactions, marketers aim to fulfill the unique needs of each mass-
market customer. Information on individual customers is utilized to develop frequency
marketing, interactive marketing, and aftermarketing programs in order to develop
relationship with high-yielding customers. In the context of business-to-business markets,
individual marketing has been in place of quite sometime. Known as Key Account
Management Program, here marketers appoint customer teams to husband the company
resources according to individual customer needs.

Continuity Marketing Programs

Take the shape of membership and loyalty card programs where customers are often
rewarded for their member and loyalty relationships with the marketers. The basic
premise of continuity marketing programs is to retain customers and increase loyalty
through long-term special services that has a potential to increase mutual value through
learning about each other.

Partnering Programs

The third type of CRM programs is partnering relationships between customer and
marketers to serve end user needs. In the mass markets, two types of partnering programs
are most common: co-branding and affinity partnering.

Missing process of CRM

Traditionally customer relationship management (CRM) revolves around the three
functions of selling, marketing and support. Various process models have been built
around how these functions are integrated and operated in a customer oriented enterprise.
There is however a fourth critical function that is lacking in most CRM models.

The fourth function that often is the source of a competitive edge is that of innovation.
Companies must continually reinvent themselves to deliver an improved and often a
totally new value offering to their customer base. CRM must provide the customer

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intelligence that feeds information back into the enterprise’s knowledge management
processes where it can trigger new innovation processes. When CRM is integrated into
the innovation process, significant value can be derived from faster time to market cycle
times and with new processes and services.

Marketing automation must ensure that the innovation processes are actually market
driven. A market driven innovation process must include both strategies that are focused
on satisfying customer requirements as well as strategies focused at redefining customer
requirements. Sales automation should be integrated with the innovation process by
ensuring that all sales channels are prepared and ready to take new processes and services
to market before competitive forces can react. Customer service automation must be
designed to empower the customer with the option of assisting with the design of the
value offering. Redefining CRM around innovation, sales, marketing and service can
identify new competitive opportunities for an enterprise.

The remaining question is whether companies are prepared to take the initiative and
expand the definition of customer relationship management to include the process of
innovation. The pressure to deliver results within the traditional definition of CRM
already overwhelms companies. The dialog must start rather earlier than later because the
competitive window of traditional CRM is decreasing and customer demands for a more
innovative and responsive enterprise will increase

Architecture of CRM

There are three parts of application architecture of CRM:

•Operational - automation to the basic business processes (marketing, sales,

service)

•Analytical - support to analyze customer behavior, implements business

intelligence alike technology

•Collaborative - ensures the contact with customers (phone, email, fax, web, sms,

post, in person)

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Operational CRM

Operational CRM means supporting the "front office" business processes, which include
customer contact (sales, marketing and service). Tasks resulting from these processes are
forwarded to resources responsible for them, as well as the information necessary for
carrying out the tasks and interfaces to back-end applications are being provided and
activities with customers are being documented for further reference.

Operational CRM provides the following benefits:

•Delivers personalized and efficient marketing, sales, and service through multi-

channel collaboration.

•Enables a 360-degree view of your customer while you are interacting with them.

•Sales people and service engineers can access complete history of all customer

interaction with your company, regardless of the touch point.

The operational part of CRM typically involves three general areas of business:

Sales force automation (SFA)

SFA automates some of the company's critical sales and sales force management
functions, for example, lead/account management, contact management, quote
management, forecasting, sales administration, keeping track of customer preferences,
buying habits, and demographics, as well as performance management. SFA tools are
designed to improve field sales productivity. Key infrastructure requirements of SFA are
mobile synchronization and integrated product configuration.

Customer service and support (CSS)

CSS automates some service requests, complaints, product returns, and information
requests. Traditional internal help desk and traditional inbound call-center support for
customer inquiries are now evolved into the "customer interaction center" (CIC), using
multiple channels (Web, phone/fax, face-to-face, kiosk, etc). Key infrastructure

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requirements of CSS include computer telephony integration (CTI) which provides high
volume processing capability, and reliability.

Enterprise marketing automation (EMA)

EMA provides information about the business environment, including competitors,
industry trends, and macro-environmental variables. It is the execution side of campaign
and lead management. The intent of EMA applications is to improve marketing campaign
efficiencies. Functions include demographic analysis, variable segmentation, and
predictive modeling occurs on the analytical (Business Intelligence) side.

Integrated CRM software is often also known as "front office solutions." This is because
they deal directly with the customer. Many call centers use CRM software to store all of
their customer's details. When a customer calls, the system can be used to retrieve and
store information relevant to the customer. By serving the customer quickly and
efficiently, and also keeping all information of a customer in one place, a company aims
to make cost savings, and also encourage new customers.

CRM solutions can also be used to allow customers to perform their own service via a
variety of communication channels. For example, you might be able to check your bank
balance via your WAP phone without ever having to talk to a person, saving money for
the company, and saving your time.

Analytical CRM

In analytical CRM, data gathered within operational CRM and/or other sources are
analyzed to segment customers or to identify potential to enhance client relationship.
Customer analysis typically can lead to targeted campaigns to increase share of
customer's wallet. Examples of Campaigns directed towards customers are:

•Acquisition: Cross-sell, up-sell

•Retention: Retaining customers who leave due to maturity or attrition.

•Information: Providing timely and regular information to customers.

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•Modification: Altering details of the transactional nature of the customers'

relationship.

Analysis typically covers but is not limited to:

•Decision support: Dashboards, reporting, metrics, performance etc.

•Predictive modeling of customer attributes

•Strategy and research.

Analysis of Customer data may relate to one or more of the following analyses:

•Contact channel optimization

•Contact Optimization

•Customer Acquisition / Reactivation / Retention

•Customer Segmentation

•Customer Satisfaction Measurement / Increase

•Sales Coverage Optimization

•Fraud Detection and analysis

•Financial Forecasts

•Pricing Optimization

•Product Development

•Program Evaluation

•Risk Assessment and Management

Data collection and analysis is viewed as a continuing and iterative process. Ideally,
business decisions are refined over time, based on feedback from earlier analysis and
decisions. Therefore, most successful analytical CRM projects take advantage of a data
warehouse to provide suitable data.

Business Intelligence is a related discipline offering some more functionality as separate
application software.

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Collaborative CRM

Collaborative CRM facilitates interactions with customers through all channels (personal,
letter, fax, phone, web, e-mail) and supports co-ordination of employee teams and
channels. It is a solution that brings people, processes and data together so companies can
better serve and retain their customers. The data/activities can be structured, unstructured,
conversational and/or transactional in nature.

Collaborative CRM provides the following benefits:

•Enables efficient productive customer interactions across all communications

channels

•Enables web collaboration to reduce customer service costs

•Integrates call centers enabling multi-channel personal customer interaction

•Integrates view of the customer while interaction at the transaction level

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