Winning Customers – Winning Sales

ThS. Nguyễn Thị Trung Trinh – 090.88.736.88

Assessment

1. Điểm quá trình (30%):

1.1 Attendance (15days = 10đ) => 10%
1.2 Group presentation & debated by others => 20%
- Book presentation (10%)
- Competitors’ Data analysis on E-commerce (10%)

2. Giữa kỳ (20%):
Group presentation & debated by others:
- Customer Journey
- CRM Project planning & applying (MKT, Sales, Customer service)
3. Cuối Kỳ (50%):
- Informed by Training Dept
 Day Contents
- Part 1: Introduction to CRM

- Part 2: Strategic to CRM

1-9 - Part 3: Implemeting the CRM strategy

- Part 4: Developing and managing Customer-related databases

- Part 5: Future of CRM

- Group presentation & debated by others:
10,11
- Competitors’ Data analysis on E-commerce
- Group presentation & debated by others:
12,13, 14
- CRM Project planning & applying (MKT, Sales, Customer service)
15 - Review
 Bạn chọn
Bán cái gì?
Part 5 - Contents

1. The importance of change 7. Social CRM Strategies

management 8. Consumer-to-Consumer Interaction
2. Kotter’s 8-steps to managing change 9. Sentiment Analysis
3. Back office processes that support 10. Global CRM
CRM
11. Database CRM
4. Challenges Facing CRM through
Traditional Channels
5. CRM through a Direct Channel – the
Internet
6. Future of CRM
1. The importance of change management

“Leadership teams that fail to plan for the human side of

change often find themselves wondering why their best-laid
plans go awry.”

=> Nhóm lãnh đạo không thể lên kế hoạch cho sự thay đổi của
con người thường đối mặt với câu hỏi tại sao các kế hoạch của
họ lại không đi đúng hướng.
1. The importance of change management
1. The importance of change management
1. The importance of change management

15/12/2007
1. The importance of change management
1. The importance of change management
1. The importance of change management
1. The importance of change management
2. Kotter’s 8-steps to managing change

1. Create a sense of urgency so that that people begin to feel “we must do
something.”
2. Put together a guiding team to drive the change effort
3. Get the vision right, and build supporting strategies
4. Communicate for buy-in
5. Empower action by removing organizational barriers to change
6. Produce short-term wins to diffuse cynicism, pessimism and skepticism
7. Don’t let up, but keep driving change and promoting the vision
8. Make change stick by reshaping organizational culture
3. Back office processes that support CRM

 Procurement must buy the right type and quality of input goods and
services
 HR needs to recruit the right people to fill customer-facing roles
 Operations needs to manufacture to the specifications and time
requirements of customers
 Finance must trace costs to customers to compute customer profitability
4. Challenges Facing CRM through Traditional Channels

 Prevent Dilution of CRM strategies

➢ Traditional intermediary entities make continual and direct interaction with end customer difficult

➢ Private label promotions by retailers often go diametrically against customer relationship programs
of the national brands
 Indirect Control of CRM through Channels
➢ Vertical integration and strategic alliances by firms to control or align interests of their channels to
their customer relationship strategy
 Eliciting Customer Information from all Channels for Central Processing
➢ Lack of precise information about individual customers complicates CRM implementation

➢ Since retailers often compete against one another, it is difficult for many firms to convince them to
part with critical sales information that will be centrally processed by the firm
5. CRM through a Direct Channel – the Internet

 Communication and Sales

➢ Broadcasted as well as customized marketing communication

➢ Low cost (direct) channel for transacting business

 Auto-Segmentation
➢ Automatically targets a certain segment of consumers- younger, more
educated, with a higher than average income, and probably with a
lower base rate loyalty
5. CRM through a Direct Channel – the Internet

 Channel Specialization and Differentiation on the Internet:

➢ Advertisers

➢ Incentive providers

➢ Bargain discounters

➢ Infomediaries

➢ Free offerer

➢ Recommendation systems

➢ Track user navigation and habits for targeted advertising

6. Future of CRM

 Worldwide increased spending on CRM

 Next generation CRM-focus on building sustainable competitive advantage that

cannot be easily imitated by competitors

 Integration of HR function into strategic CRM efforts

 Creation of a single-view of customer

 Continuous fine-tuning and micro-segmentation of customer database

 Growing ability of firms to handle deep customer analytics

6. Future of CRM - Social CRM
 Emergence of the social web and peer-to-peer networks/conversations increasingly
influence how customers interact with each other and how businesses use the social
media tools to manage customer relationships

 Popular Social Media Channels  Popular Social Media Channels

➢ Blog ➢ Mobile Application

➢ E-mail ➢ Widgets

➢ Social networking Platforms ➢ Viral Videos

➢ Podcasts and Internet Radio ➢ Social Coupons

6. Future of CRM - Social CRM
a. Social networking Platforms
➢ Substantial growth over the past 5 years
➢ High potential marketing and CRM toll
➢ Studies show a direct positive correlation
between the use of social networking for
customer acquisition and growth in
revenue
 Benefits:
➢ Identifying and targeting micro-segments
of consumers
➢ Starting dialogs with consumers
➢ Raising and improving brand awareness
b. Podcasts & Internet Radio
➢ Useful to marketers in segmenting and
customizing their messages on an
individual basis
c. Widgets
➢ Gaining popularity from a customer
standpoint, but companies are still
reluctant to invest in widgets
➢ Concerns: widgets are experiencing
“application burnout”
➢ E.g. Peanut recall widget
6. Future of CRM - Social CRM

d. Mobile Application

➢ Mobile Applications are gaining a greater share of users’ time commitment

than the web is

➢ Benefit: allows marketers to cater to specific customer segments with

targeted mobile applications

➢ Challenges: marketers need to constantly update or replace the

application with more relevant offerings
6. Future of CRM - Social CRM
e. Viral Videos
➢ Emerged as a user-driven method of communicating
➢ Exhibit the potential for marketing and promotions
➢ Many brands use viral videos to strengthen brand awareness and brand association
➢ Ex) Dos Equis “The most interesting man in the world

f. Social Coupons
➢ Digital coupon is growing at an exponential rate
➢ Customer acquisition method for business
➢ New product/brand research portal for customers
7. Social CRM Strategies
a. Social Strategies – Not Social Tools

➢ Need to focus on creating adaptable social platform rather than focusing on available
tools
➢ Social tools evolve and change constantly
➢ Social computing and interactions are becoming more essentia
b. Implementation: Task-specific

➢ Utilize a social media tool because of a need or a purpose

c. Social CRM has very few recognized and recommendations to implement

➢ Still in the infant stage of its life cycle

d. Few successful implantation:

➢ Trial and error and fast follower strategy

8. Consumer-to-Consumer Interaction

a. Social Media outlets are becoming a new marketing portal for

➢ Consumer-to-Consumer(C2C) Conversations

b. C2C conversations brought customers a new level of autonomy

➢ Provide customers a freedom and accessibility to view, discuss, and judge products
and services
➢ Provide the ability to formulate opinions on products on their own terms
➢ Enable consumers to actively engage and participate in the development and
marketing process of products and services
➢ Influence their peers in buying decisions
➢ Access information on customers’ own terms
8. Consumer-to-Consumer interaction

c. Increasing popularity of these social media tools impact B2C CRM

➢ Companies stop having complete control on the their web-based
content
➢ Companies need to constantly participate in the online
communications and adapt their offerings accordingly
8. Consumer-to-Consumer interaction

d. Establishing new infrastructure for Social CRM

➢ Listening as a First Step
 Increasingly active role of the customer is changing the nature of business

 Companies should listen and utilize information collected on customers

 Identify the best strategies in addressing customer demands, concerns, and wants

➢ Mutual Purpose and Transparency

 Essential to define the “Mutual Purpose” that states the incentives for both customers and
the company
 Understand why the company the company is actually going onto social network, and how
it will positively affect them and their customers
 Important to stress authenticity, transparency, and relevancy in order to stay involved in
the customers process of obtaining information
9. Sentiment Analysis

a. Sentiment Analysis help companies uncover the intended meaning behind consumer opinion and
reviews

b. Text Analytics: Fast growing technologies for automate sentiment analysis

➢ Collect text data on consumer insights from social media platforms, news articles, or
information database
➢ Provide an objective summary of consumer reactions and responses to a company
➢ Ex) MediaVantage by Lexalytics
 Web-based application for media relations

 Enable firms to implement automated sentiment analysis of blogs, social media

 Marketers can monitor their company’s reputation, align their corporate teams and
messaging, and measure the results of their communication efforts
10. Global CRM

a. Global CRM (GCRM): Strategic application of the processes and practices of CRM by firms
operating in multiple countries, or by firms serving customers who span multiple countries
➢ Firm level GCRM: production, operation, product portfolio, and firm size
➢ Customer level GCRM: customer expectations, satisfaction drivers, loyalty, profitability

b. Informational Technology Needs

➢ Multinational enterprises are implementing Software as a Service (SasS) models
 Integrate customer and company level data across various regions

 lower costs in attracting and retaining customers

 Increase employee productivity and call center efficiency

 Create more accurate sales forecasting for increased customer sales and satisfaction
10. Global CRM
c. Global Diffusion
➢ Regional and National Heterogeneity
➢ Companies are challenged on designing and implementing business and marketing strategies in
various cultural environments and global customers
➢ Managers can better understand and align with their partners and clients from all regions
➢ Facilitating the process of making informed decisions
➢ Adapting appropriately to the economic, culture, and political climates of each area of business

d. Applying it as a firm
➢ Essential to develop a uniform outlook on GCRM strategy in order to adapt and implement it on a
regional or national level
➢ Develop a CRM strategy at the highest level of management, but leave room for needed adaptability
11. Database CRM
a. CRM needs more cost-efficient digital platforms for using, accessing and constantly updating the
databases
b. Cloud Computing
➢ Allows for more accessible and customizable implementation of CRM pratices
➢ Allows for remote access and real time updating in order to keep up with the dynamic and
evolving nature of databases
➢ Applied easily and are economical without any infrastructure or maintance obstacles
c. Privacy Issues and Concerns
➢ Accessibillity of web-based platforms cause concern for privacy issues
➢ Online companies place web bugs called „cookies“ in users‘ computer to acquire user
information
➢ Online marketers and researchers should reassure customers and participants about the
security of their personal information
11. Database CRM
Hỏi gì khum?
Review - Part 5 - Contents

1. The importance of change 7. Social CRM Strategies

management 8. Consumer-to-Consumer Interaction
2. Kotter’s 8-steps to managing change 9. Sentiment Analysis
3. Back office processes that support 10. Global CRM
CRM
11. Database CRM
4. Challenges Facing CRM through
Traditional Channels
5. CRM through a Direct Channel – the
Internet
6. Future of CRM
Thank you!