WHAT IS CRM?

It is a combination of practices, technologies, and strategies used by businesses to manage

customer interactions. The goal is to improve customer service relationships, increase sales
and client retention.

BENEFITS OF CRM
Better Knowledge Of Customer

Better Segmentation

Better Customer Retention

Better Anticipation Of Needs

Better And Speedier Communication

MAIN COMPONENTS OF CRM

People Management

• Putting the appropriate people in the right place at the right time.
• A successful people strategy is implemented first, followed by a workforce analysis.
• The skills and development of the workforce are examined as part of the workforce
analysis.

Lead Management

• Keeping track of sales leads and their distribution.

• Benefits are reaped by sales, call centers, and marketing industries
• Market campaigns, customized forms, mailing lists, and other activities are all part of
lead management.
• Study of purchase patterns, patterns of the customers

Sales Force Automation

• The most critical component of CRM is sales force automation (SFA).

• The software system includes forecasting, tracking potential customers, interacting
with customers, and processing sales.
• Perform correct management, activity management, document management, order
management, sales analysis, and product configuration.

Customer Service
 • Focuses on comparing customer data and gaining knowledge about their buying
habits.
• CRM also makes this data available to any department that requires it.
• As a result, sales, marketing, and personnel departments can improve their consumer
understanding.

Marketing

• It refers to the various promotional actions that go into promoting a product.

• It could be directed toward the whole public or a specific demographic.
• CRM aids in the improvement of marketing effectiveness by analyzing possible
targeted clients.

Work Flow Automation

• The workflow process primarily entails the simplification of processes, which

ultimately aids in cost reduction.
• Workflow automation saves time and energy by eliminating the need for several
individuals to perform the same task again and over.
• Also reduces paperwork

Business Reporting

• To determine the company's specific condition at any given time.

• Business reporting provides the benefit of rapid access to information at any given
time.
• It also ensures the accuracy of data. This CRM feature aids in the exporting of
reports to various platforms and the comparison of past data.

Analytics

• The information obtained from the data is utilized to study market trends.
• Historical and current data aid in producing charts and diagrams, allowing for more
comprehensive trend analysis.
• To forecast company situations at any given time.

CRM PROCESS
IDENTIFYING TARGET MARKET AND VALUE PROPOSITION

DEFINING OVERALL STRATEGY

CUSTOMER HANDLING
It has to be done on a priority basis. Let’s say there is an existing customer who’s
interested in buying a new product, the priority given to him should be higher.
2nd let's say there is a customer who has subscribed to our mailing list, he should be the
given 2nd most priority
3rd are people coming from ads and other methods, these are the customers that are most
difficult to convert, so they are on a lower level of priority.

SELECTION OF A SOFTWARE FOR PERFORMANCE MANAGEMENT

RE-ENGAGING CUSTOMER

It is basically reminding the customer about the business. It is a never-ending task and
they have to be engaged constantly. It is of utmost importance and is going to yield great
results
IN CRM PROCESS THE 3 MOST USED ENGAGEMENT STRATEGIES ARE:
1. customer satisfaction survey
2. emails
3. social media

EXAMPLES OF CRM
APPLE'S CRM GROWTH STRATEGY

Apple asks you to create an apple id. This synchronizes user experience across all apps.
This data helps Apple to provide relevant recommendations for users

AMAZON'S CRM GROWTH STRATEGY

Create an Amazon account. It tracks your purchase history, analyzes buying patterns, then
it will promote tailor-made marketing campaigns for the user. It helps customers with
speedy checkouts by adding a one-click order option.

IMPORTANT FACTORS IN DESIGNING A STRONG CRM

PROCESS

Customer Segmentation:
We should divide our customers based on their purchasing behavior, preferences,
demographics, and other relevant factors. This will allow us to personalize our
communication and marketing efforts. As every customer is different and has different pain
points, segmentation will help us personalize their experience with HP.

Personalized Communication:

Personalization is the key to gaining customer loyalty as it makes our customers feel more
valued. We can utilize customer data to send targeted and personalized messages to our
customers. We will send relevant product recommendations, exclusive offers, and
promotions based on their previous purchases or browsing history.

Loyalty Programs:
Offering discounts, special privileges, and exclusive access to new products or events to
incentivize customer loyalty.

Omnichannel Approach:

We will interact with our customers through multiple channels such as email, social media,
live chat, and mobile apps trying to ensure consistent messaging and a seamless experience
across all touchpoints.

Proactive Customer Support:

We will have to provide excellent customer support through various channels.

Upselling and Cross-selling:

To increase revenue, we will have to identify opportunities to upsell or cross-sell

complementary products or accessories to customers based on their purchase history or
preferences. Using personalized recommendations will encourage additional purchases.

Feedback and Surveys:

We will regularly collect feedback from our customers to understand their needs,
preferences, and pain points.
Social Media Engagement:

We have to actively engage with our customers on social media platforms by responding to
comments, addressing queries, and sharing relevant content.