CRM -PROCESS

CRM Process: 

CRM process is defined as any group of action that is instrumental in the achievement of the output of an operation system, in accordance with a specified measure of effectiveness.

Objectives of a CRM Process: 

The main objective of CRM process is to originate a powerful new tool for customer retention CRM implementation & success rate purely depend upon the process, which includes the future, revenue, customer value customer retention, customer acquisition & profitability 

Benefits of a CRM Process: 
 

Ability to retain loyal & profitable customers. Rapid growth of business project. Acquiring the right customers, hence drives growth & increased profit margins. Increased individual customer margins, while offering the right products at the right time. 

A Closed-loop CRM Process: 
 

Gathering information:gather information about
customer.

Perform data aggregation:data is merged &
compressed into a complete view of the customer.

Create exploration warehouses:are extracts of
customer data needed to support specific analysis(like customer profitability etc.). These are engines for analytical applications that support identification of opportunities & developing strategies. 

Execution of strategies:execute these strategies by
developing & launching marketing campaigns across targeted customer segment. CUSTOMER INTERACTION

Process Selection Procedure: 
  

Major technological changes:does tech.
Exist or not?

Minor technological changes:cost &
consistency etc.

Specific component choice:type of hardware
etc.

Process flow choice:how the CRM product will
move through the system

CRM Business Transformation: 

Iterative Process:every org. follow a set of their own procedures to market their product, service or promotional activities. Some activities are common to all CRM process has got its own set of rules to change an org. into a full fledged CRM based org. To achieve this, org has to definitely go through 2 levels of iterations. Therefore different tech. is needed for each company. 

  

Iterative Cycle: 
           

CRM Modification Determine the boundaries of patterns Fix the limits of channel model Define/Refine POI models Arrange pattern with technology Define/Refine organizational impact Preference & corrective gap Provision technology ecosystem Make a ³Go-To-Market´ blueprint Plan, deliver, & manage implementation Assess customer lifetime value Measure & access program value REPEAT THE ITERATION

Four C¶s(elements) of CRM Process:
Correlate: series of transaction & interaction that make
up a dialogue between customer/channel/end user/ org. I.e. data is collected from all contact points.

Combine: mapping & management of interaction points
between a customer customer/channel/end user/ org.

Cognize(to know): insight gained through capture &
analysis of detailed information is to create continuous learning from data warehouse.

Connect: application of insight to create relevant
interaction with consumers, customers,channels, suppliers, partners that build value relationships CRM PROCES FOR MARKETING ORG-CLASS PRESENTATION

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