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Management
Module V
ECRM
Electronic customer relationship management (E-CRM) is the
application of Internet-based technologies such as emails, websites,
chat rooms, forums and other channels to achieve CRM objectives. It is
a well-structured and coordinated process of CRM that automates the
processes in marketing, sales and customer service.
• One important aspect of the CRM approach is the systems of CRM that
compile data from a range of different communication channels,
including a company's website, telephone, email, live chat, marketing
materials and more recently, social media. Through the CRM approach
and the systems used to facilitate it, businesses learn more about
their target audiences and how to best cater to their needs.
WHAT IS CRM SOFTWARE?
Customer relationship management (CRM) software is a broad category of tools designed to
keep track of their customer relationships, manage sales and marketing processes, and deliver
a more efficient service.
CRM software, at its core, is databases of customer and business contacts. Today, advances in
technology have enabled sales, marketing, and customer support teams to use it for a wide
variety of tasks, resulting in improve efficiency.
USERS OF CRM SOFTWARE
• Sales Teams
• Marketing Teams
• Customer Support Teams
SAP
SAP stands for Systems, Applications, and Products in Data
SAP stands for Systems, Applications, and
Processing. The SAP CRM applications have
Products in Data been initially
Processing. The SAPan
CRM applications have been initially an
integrated on-premise customer relationship
integrated on-premise customer relationship
management (CRM) software manufactured
management (CRM) software manufactured by SAP SE which
by SAP SE which targeted
targeted business software requirements for
business software marketing,
requirements forsales
sales and service of midsize and large
and
marketing,
YOU WILL GET TO KNOW YOUR YOU WILL ESTABLISH BETTER YOU WILL ORGANIZE WORK IN YOU WILL ENTER TO A NEW YOUR DATA WILL BE SAFE
CUSTOMERS MUCH BETTER CONTACT WITH YOUR YOUR COMPANY IN AN EASY WAY LEVEL OF TECHNOLOGY,
CUSTOMERS WITHOUT CHANGING
EQUIPMENT
Salesforce
Attract more buyers using Win more customers by Deliver the amazing Respond faster to Automate time-consuming
personalized marketing. getting to know their shopping experiences your customer support issues tasks by building custom
needs and concerns. customers expect. on any channel. apps.
MICROSOFT DYNAMICS CRM
• Microsoft Dynamics CRM is a customer relationship management software
package developed by Microsoft. The product focuses mainly on sales,
marketing, and service (help desk) sectors, but Microsoft has been marketing
Dynamics CRM as a CRM platform and has been encouraging partners to use
its once proprietary, now Open Source (.NET based) framework to customize
it. It is part of the Microsoft Dynamics family of business applications.
The IoT is a giant network of connected things and people – all of which collect and share data about the way they are
used and about the environment around them.
Devices and objects with built in sensors are connected to an Internet of Things Platform, which integrates data from
the different devices and applies analytics to share the most valuable information with applications built to address
specific needs.
These powerful IoT platforms can pinpoint exactly what information is useful and what can safely be ignored. This
information can be used to detect patterns, make recommendations, and detect possible problems before they occur.
3 important attributes needed for IoT :-
Sensors
Manufacturers are adding sensors to the components of their products so that they can transmit data back about how they are
performing. Companies can also use the data generated by these sensors to make their systems and their supply chains more efficient,
because they will have much more accurate data about what's really going on.
IoT IN CRM
IoT has profound impact on CRM as the immense IoT data containing customer information can
drastically enhance CRM capabilities.
This future of CRM is powered by cognitive computing, big data analytics, deep industry knowledge
and business functional flows.
Today, CRM is about managing customer relationships with customer at its core. Companies strive to
provide superior and optimized customer experience irrespective of channel – where IoT devices
itself are one of the channels.
The close interaction of devices with intelligent systems opens up whole new world to deliver
personalized and contextual offers, services and superior support while at the same time
continuously innovating products and services.
HOW CAN IoT TRANSFORM
CRM ?
1. Optimize customer serVICE
When your CRM software has access to data from your products, you can detect lapses in performance and locate the cause of the problem before
your customer even realizes any issues. Then, your CRM can automatically create a service ticket, ordering the correct part or dispatching
appropriate field service workers to perform necessary maintenance. This proactive approach to customer support increases satisfaction and
efficiency.
2. Increase sales
The enhanced customer support that results from connecting IoT and CRM will lead to higher sales. Also, IoT data can detect customer
dissatisfaction, so you know when to reach out to customers or offer discounts to retain their loyalty.
This information provides opportunities for upselling and cross-selling, as well. Smart devices can let you know how, when and where your
products are being used by specific customers, encouraging highly personalized customer experiences. Marketers can leverage these insights to
deliver content and offers to particular segments at just the right time.
3. Reduce Churn
Using business applications and IoT data, organizations can predict whether a customer is at churn-risk and take
proactive measures to meet his expectations, taking away much costlier options of acquiring customer and intangible
losses (customer trust). Trending based on location, pricing, service issues, product portfolio, buying trends,
demographic information and previous churned customer’s analysis can provide a much more insightful and accurate
churn prediction.
When you have a very deep insight into customer behavior, you can tailor the interaction with customers according to
what they like best. Understanding customer behavior also helps you design highly targeted campaigns. IOT gives you
almost real-time access to customer’s data that can be used to run quick-campaigns to influence their decisions.
For customer service, you have much more data about the customer and may already know what the problem is
through the data stream from your products. This helps you understand the customer better and solve their problems
quickly.
6. Internet of Things as the Future of CRM
IOT is undoubtedly the future of data acquisition systems and CRM is a field which heavily relies on this technology. With
rise in the use of intelligent devices, the data stream from customers is bound to rise too. The intelligent thing to do for any
company engaged in CRM is to use this changing trend to their advantage. IOT is not a speculation of things to happen; it is
something that is already happening. There are more and more devices on the market that come with Internet connectivity.
These are constant sources of information. It will be a wise decision for any company to incorporate this rising trend into
their CRM systems and reap the benefits of it early on.
Customer Relationship Management
• Customer relationship management is a technology for managing all
your company’s relationships and interactions with customers and
potential customers.
• A CRM system helps companies stay connected to customers,
streamline processes, and improve profitability.
• A CRM system can give you a clear overview of your customers.
Social customer relationship management
• Social CRM or social customer relationship management is the
integration of social media channels into Customer Relationship
Management platforms.
• Social CRM makes it possible for a business to communicate with
customers using the channel of their choice whether by phone, text,
chat, email or social media
• Examples Facebook, twitter.
Using social CRM for customer service
• Social CRM is used by businesses looking to optimize service levels
and the multi-channel customer experience.
• It can help businesses get the basics of customer service right,
responding seamlessly in the way that suits the customer best.
• Enhances Better Customer Service
• Facilitates discovery of new customers
• Increases customer revenues
• Enhances effective cross and up selling of products
Cloud based CRM
• Cloud CRM means any customer relationship management technology where
the CRM software, CRM tools and the organization's customer data resides in the
cloud and is delivered to end-users via the Internet.
• Cloud CRM typically offers access to the application via Web-based tools or Web
browser logins where the CRM system administrator has previously defined
access levels across the organization.
Benefits of cloud based CRM
• THE FREEDOM TO WORK FROM ANYWHERE
• THE ROOM FOR SCALABILITY
• GREAT RELIABILITY
• COUNTLESS INTEGRATIONS
• AFFORDABILITY
• GREAT SECURITY
• EASY INSTALLATION
Mobile CRM
• Mobile Customer Relationship Management delivers a full CRM experience on
smart phones, tablets, and other internet-enabled devices.
• It enables sales, marketing and customer service teams to access and manage key
information in real time, wherever they are.
• A mobile CRM allows users to access important business data no matter where
they are. In a sense, it allows them run their business on the go.
Benefits
• More Sales
• Improved Data Collection
• Better Productivity
• Stronger Customer Service
• Better Customer Retention
• Increased Employee Productivity
• Increased Accountability of Your Sales Team
Hyper individualization
• Hyper individualization is the new standard for marketers and product designers.
We should not target customer experience at the masses, but at the individual.
• With this is mind, over the past years marketers and product designers have
honed their messages and products. Marketing expressions are now better
targeted.
• Today, it is all about you, the consumer. Your needs, dreams, desires, and
thoughts are the new capital. The future belongs to companies that create
experiences around this.
CUSTOMER RELATIONSHIP
MANAGEMENT
Customer relationship management (CRM) is an approach to manage a company's
interaction with current and potential customers. It uses data analysis about
customers' history with a company to improve business relationships with
customers, specifically focusing on customer retention and ultimately driving sales
growth.
One important aspect of the CRM approach is the systems of CRM that compile
data from a range of different communication channels, including a company's
website, telephone, email, live chat, marketing materials and more recently, social
media. Through the CRM approach and the systems used to facilitate it, businesses
learn more about their target audiences and how to best cater to their needs.
.
.
WHO IS CRM FOR ?
A CRM system gives everyone — from sales, customer service, business
development, recruiting, marketing, or any other line of business — a better
way to manage the external interactions and relationships that drive success.
A CRM tool lets you store customer and prospect contact information,
identify sales opportunities, record service issues, and manage marketing
campaigns, all in one central location — and make information about every
customer interaction available to anyone at your company who might need
it.
With visibility and easy access to data, it's easier to collaborate and increase
productivity. Everyone in your company can see how customers have been
communicated with, what they’ve bought, when they last purchased, what
they paid, and so much more. CRM can help companies of all sizes drive
business growth, and it can be especially beneficial to a small business,
where teams often need to find ways to do more with less.
.
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SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT
Social customer relationship management (social CRM) refers to the use of
social media and social media techniques to engage a business’s customer base.
Social CRM is seen as a customer-centric approach to providing service and
product support, raising brand awareness, marketing products and creating a
community. The interaction with the customer via social CRM is believed to help
companies more clearly understand customer needs and deliver superior
products and services.
Social CRM, or social relationship management, is customer relationship
management and engagement fostered by communication with customers
through social networking sites, such as Twitter and Facebook.
Social CRM integrates social media platforms with customer relationship
management (CRM) systems to provide insight into customer interactions with a
brand, and to improve the quality of customer engagement.
5 M’s of social customer relationship
management
Monitoring: This is about listening in on conversations that you might not have known were
occurring.
Mapping: this is to get customers to map their profiles for you.
Management: Once you establish where your customers are on the social Web, how do you
handle the noise? There are a lot of business processes and rules within current CRM systems
that can be leveraged to handle social data. THE point that without a purpose, social data is not
actionable.
Middleware: This ties social systems with CRM and customer service solutions. It's very possible
to build business rules, test them, change them and manage them to make social media much
like any other business process.
Measurement: there are numerous tools on the market that provide dashboards to establish
and track goals and progress. The key is in establishing goals before taking action. RELYING on
data to provide benchmarks and trending.
CLOUD BASED CRM
Cloud CRM (or CRM cloud) means any customer relationship management (CRM) technology where the CRM
software, CRM tools and the organization's customer data resides in the cloud and is delivered to end-users
via the Internet.
Cloud CRM typically offers access to the application via Web-based tools (or Web browser) logins where the
CRM system administrator has previously defined access levels across the organization. Employees can log in
to the CRM system, simultaneously, from any Internet-enabled computer or device. Often, cloud CRM
provide users with mobile apps to make it easier to use the CRM on smartphones and tablets.
CRM software has been around for years, but now it’s taking on a much more important, and mainstream,
role in businesses of all sizes. Anyone can benefit from CRM software because the point of it is to organize
customer data in a way that can improve customer experience, generate sales, and personalize every
customer interaction to ensure they come back.
Previously, CRM required an expensive on-premise solution, but now with the cloud, any business can
utilize these platforms. Large businesses and enterprises took advantage of developing their own CRM to
cater to their own needs, but that came with significant costs that no one else could afford. Cloud-based CRM
is playing a more important role in business today because it’s accessible to businesses of all sizes and
adaptable to any business’ changing needs. To help your business make the right decision, we believe it’s
imperative to break down what cloud-based CRM software is, why it’s important, and how your business can
use it effectively because cloud-based CRM software is continuing to evolve for the better, and the faster your
business embraces it, the better.
.
.
Benefits of Cloud CRM
One main benefit of CRM software delivered in the cloud is scalability. A cloud-based system is
designed to be flexible with expanding capacity so a business can scale up (or down) their CRM
depending on current business needs. Typically costs of the CRM, which is often based on the
number of users and storage requirements also scales up and down as you requirements change. In
most cases scaling up is as simple as contacting your cloud CRM vendor and requesting changes to
your implementation.
Cloud CRM is often a good choice for small businesses who lack the in-house IT expertise to deploy,
manage and upgrade an on-premises CRM application. With Cloud CRM the vendor is responsible
for managing the software, providing updates across the system and taking care of technical
glitches, bugs and other issues as they arise.
Other benefits of CRM in the cloud include integration with commonly used office applications and
email systems, integration with social data (social CRM) and automatic data backups.
What is Cloud-based CRM Software?
Cloud-based CRM software is simply CRM software that is hosted in the cloud,
meaning collected customer data is stored and accessed by businesses via the
internet. This means that your business doesn’t have to worry about data
management and storage, or paying for individual licenses for multiple devices.
All of this heavy lifting is handled by the CRM provider, so your business simply
gains access to an easy to use solution. Cloud-based CRM software can do
everything on-premise CRM software can, but it’s more adaptable to your
business’ needs, it’s more cost-effective in the long run, it’s easily accessible, and
it’s more secure, which is a significant issue businesses today are constantly trying
to resolve.
WHAT IS MOBILE CRM ?
Mobile CRM (Customer Relationship Management) delivers a full CRM experience on
smartphones, tablets, and other internet-enabled devices. It enables sales, marketing and
customer service teams to access and manage key information in real time, wherever they
are.
The mass migration of internet users from desktop to mobile devices means people now
expect real-time information to be available from anywhere.
In fact, the proportion of global internet traffic coming from mobile devices grew from 0.7%
in 2009 to 52.99% in 2017, and the numbers continue to grow.
A CRM needs to be able to match this growth. IT allows users to access important business
data no matter where they are. In a sense, it allows them run their business on the go.
Benefits of Mobile CRM
With mobile CRM software, mobile devices such as tablets and smartphones can deliver all the classic functionality of a
system hosted on a laptop or desktop computer, but with the added benefits of on-the-go access via cloud computing. In
effect, users should be able to run their business from their phone.
Mobile CRM has many benefits for remote workers when they're away from their desk enabling them to:
Plan using calendar integration
Dial into meetings with click-to-call
Access and update leads, contacts and opportunities
Open and share files
Access dashboards on the go
Track, manage, and respond to customer service cases
Access to up-to-date data at all times
Automatic updates mean that every salesperson has the benefit of complete CRM data, analytics and customer-facing
material at their fingertips, on any device – meaning no one is left out of the loop and sales team members can move
forward with their prospects with confidence.
The best CRMs will also be equipped with extensive security features built in, like multi-factor authentication and VPN
requirements. Security updates and new features within the mobile CRM app automatically update without users having to
manually re-download or upgrade.
HYPER INDIVIDUALIZATION
Hyper individualism: A tendency for people to act in a highly individual way,
without regard to society.
HYPER INDIVISUALIZATION IS THE NEW STANDARD FOR MARKETERS AND
PRODUCT DESIGNERS. WE SHOULD NOT TARGET CUSTOMER EXPERIENCES AT THE
MASSES, BUT AT THE INDIVIDUAL. MARKETING EXPRESSIONS WILL BE BETTER
TARGETED.
EXAMPLES OF HYPER INDIVIDUALIZATION
Just think of a web shop that adapts itself entirely to the individual’s preferences as a customer shops there
more often. Or take, for example, a clothing item that is not only tailored to the individual with regard to sizing,
but also includes the desired print, material choice, and insulation value. Some enterprises are already aware of
this need and lead by THIS example.
ANOTHER EXAMPLE such as Xertonline.com, an online service targeted at amateur and professional cyclists.
Instead of the generic training software that currently dominates the market, they have a different approach.
Xertonline.com creates a tailored training program based on the unique qualities, weaknesses, and the desired
objective of the individual sportsperson.
The service fully and automatically establishes the individual characteristics by means of previously cycled rides,
and shows exactly how fit or fatigued the sportsperson is based on each ride. Based on all of this, it composes –
once again fully automatically – a training regimen that help the individual reach their goal.
Whilst an individual approach like this usually requires a sports coach, Xertonline.com does so entirely on the
basis of machine learning and AI. They have literally turned hyper-individualization into their unique selling
point. No two customer experiences are the same.
What is ECRM?
• This is a new trend in CRM which exploits the power of internet.
Electronic Customer Relationship Management (ECRM) aims at
developing and establishing all CRM functions with the use of digital
communication tools such as EMail, chatrooms, instant messaging,
forums, etc.
• ECRM is motivated by the ease of internet access from various
computing devices such as desktops, laptops, tablets, and
smartphones.
Features of ECRM
• 2. Segmenting customers and taking names. :-AI-driven CRM can help you
become more granular in your customer segmentation approach. With the help
of intelligent algorithms, you can segment customers effortlessly on the basis of
demographics, purchasing behaviour, likes and dislikes.
CONT…..
• 3. Simplify lead management. It is quite likely that sales reps may not
follow up on a lead because either they forgot or are overburdened
with work. It happens (all the time….).If the volume of leads is higher,
it becomes manually challenging to sift through all of them. Having
said that, every lost opportunity is lost business. You can't ignore
leads, especially the qualified ones. When we combine artificial
intelligence and CRM tech, we get a lead-gen powerhouse. This
unstoppable duo lets us increase out outputs without comprising
quality of interaction, revolutionizing the way we engage, nurture,
and qualify and follow-up with leads.
CONT……
• 4. Enhance Customer Engagement and Retention :-AI-enabled CRM software can create
tailor-made experiences and interactions by determining their emotional state of mind
through their text-based or voice-based words, tone and conversation pattern.This
technology can even do a sentiment analysis and image recognition technology to
understand customer satisfaction or dissatisfaction with your product in real-time. When
you get this insightful data, you can take identify potential problems quickly and take
action to respond to customers. 5. Close more, lose less.
• AI-based CRM can study different sales scenarios where the deals were rejected and
closed. They provide useful insights and make intelligent recommendations during
various stages of sales funnel to advise sales reps on the next best course of action to
close the deal.It can also help them to identify which buyer has the true intent to buy and
speed up the sales cycle, determining instances which had both positive and negative
impact on the pipeline to manage the next pipeline more efficiently.
Multi-channel integration
• It is the practice by which companies interact with consumers via
multiple channels (direct and indirect) to sell them goods and
services. Today’s consumer controls the buying process more than
ever before: They now choose which channel they use, and when
they use it, through a wide range of devices in different locations at
various times of the day. That control has effectively been switched
away from the “marketer,” which means that traditional marketing
techniques must evolve. Good channel integration does not attempt
to direct traffic toward a single channel, but makes cross-channel use
a seamless experience.
Cont…..
• Big data is a field that treats ways to analyze, systematically extract
information from, or otherwise deal with data sets that are too large
or complex to be dealt with by traditional data-processing application
software.
• Big data, or the large amounts of information that inundate a
business every day, can be one of the most valuable resources a
brand can possess. Marketers can use it to uncover valuable customer
data, including patterns, trends, and associations relating to human
behavior and interactions. As one would expect, with that level of
intelligence big data has enormous potential, but only for those with
the capabilities required to react accordingly to whatever they may
learn.
Cont…..
• Data Integration assists businesses to collect all their marketing data from different channel platforms
to a common cloud-based platform for its easy access from anywhere and at any time. This will help
them plan their growth strategy and improve the decision-making process. Integration of data on a
single platform provides numerous benefits to a business, and some of them are mentioned below:
• Streamline Operations: Real-time access to data of every process will help businesses to increase
production, maintain costs, and eliminate errors across various departments.
• Improvise Customer Experience: The presence of data on a shared & common platform provide an
accurate view of customers which impacts sales and therefore, revenue. The real-time availability of
historical data and customer information helps businesses to target the right customers at just the right
time.
• Better Decision-making: Data and relevant information can be shared in real-time and are easy to
access that will lead to making better decisions for business growth.
• Future Predictions: With the availability of historical data and current data, the demands of customers
in the future can be anticipated. This will help you evaluate your products and services, so you can stay
ahead of your competition.
FACTORS TO KEEPIN MIND
• Select the one which suits your Analysis Purposes: The tool provides multiple
functions such as analyzing, reporting, predictive analysis, and many others.
Diverse businesses have different needs based on processing computing models,
data access methods, and algorithm support. Select the cloud-based data
warehouse that will meet your specific needs and also provide flexibility in services
so that you can focus more on analysis and results.
• Consider the Cost: Different organizations that vary in size have different tolerance
for different kinds of costs. Therefore, a cost model is required to conclude
whether it is essential to use the cloud data warehouse or not. The price of the
data integration tool may include the following charges:
• Procurement Cost:
• Deployment Cost:
• Data Development and Management Costs:
• Business Opportunity Cost:
• Daily Cost:
• Multiple Deployment Options: The data integration platform you are investing in must
support your operating environments both on-premises and in the cloud. The platform
should also support virtualized servers and distributed processing environments across a
variety of operating systems. The below-mentioned add on-features can also help in
enhancing the developer’s productivity:
• self-generating documentation with graphical representations of workflows;
• parallelization of integration processes and data loading
• data profiling tools to analyze the information in sources and targets;
• data quality tools to cleanse and enhance data; and
• integration with other vendors’ software development, management, scheduling and
monitoring tools;
• Ease in Utilization: The data integration tool, along with integrating data, should also
make it market-ready with sound analysis. It should have a friendly interface so that the
users can configure, manage, and utilize their data without requiring any tech
intervention.
• After-Sale Support for the Software Platform: Ensure that the vendor from whom you are
buying the data integration tool will provide long-term support in the form of online
assistance for common Q &A, on-site assistance, online chats, and in-person discussions.
The importance of Data Integration Tool in today’s business
world:
• Easy access to data: Data generated across platforms is increasing at lightning speed. Internal combination of data
will ensure that all your employees have the information they need to utilize to improve processes. The Data
integration Tool will simplify the deployment of new connections between your organization and your trading
partners.
• Provide room for integration of data from multiple platforms: The tool connects all the different data sources to
use the value of insights. With the availability of information at a shared workplace in real-time will help you to
make critical decisions quickly to improve processes and provide better customer service.
• Better Collaboration: Effective data integration will help businesses to improve their internal as well as external
collaboration. Every stakeholder will get hold of the essential data in real-time, and delay in performing vital tasks
can be eliminated.
• Data integrity and Data Quality: Data integrity and data quality are essential elements of data integrations. The
tool helps you to cleanse the data and to make the most out of it.
• Operational Efficiency: Once the relevant data from all the platforms are integrated into a shared workplace, you
can make better decisions for your business and straightforwardly improve your processes.
4Ps of CRM Roadblocks
• Process
• Perception
• Privacy
• Politics
PROCESS
• Your process is something you know forwards and backwards. It’s
something you’ve worked on for years, and through countless iterations.
• But your CRM search will turn up very few results if you reduce it to only
the CRMs that match your process exactly. The problem is, CRMs weren’t
necessarily designed for your process. That’s because every single company
is created differently. Different targets, different philosophies, different
culture and goals, and different workforce.
• This all adds up to a unique process that you can’t get anywhere else. And
that’s a great thing.
PERCEPTION
• Understand the quid procque are more lockley to share their personal
information with the company if they
POLITICS