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CUSTOMER RELATIONSHIP MANAGEMENT ( CRM

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Presentation by Sanjay Setia

It leads to loss of key customers OR • 2.Situation: There is a sudden departure of important customer facing key account executives • Result: • 1. It does not affect the Company .

CONSUMER BEHAVIOUR • • • • • • • Changed dramatically last decade the abundance of choice availability of information entitlement ( customers asking what have you done for me lately) commoditization of goods & services insecurity (consumer financial problems reduce loyalty) time scarcity .

Cognitive.STP. Hostages • Consumer Decision Making View Economic. Mercenaries. Passive. Terrorists. Defectors. Satisfaction & Retention Loyalty Loyalists. Apostles.4 Ps Customer Value. Emotional • Relationship (Loyalty) Programmes .ConsumerPersonal & Organizational • • • • Marketing Concept.

Relationship Marketing • AIM: fostering ongoing communications • furnishing loyalty by building in extras like upgrades • stimulating sense of belonging by providing an exclusive club membership • Relationships between organizations evolve at three different levels: economic. social & structural .

Mutually serving. ego satisfaction • Final Phase.Crisis of confidence & severe loss to both • Departure of key account executives impacts existing customer relationships • What are alternatives available to Cos.? .Harmless • Secondary Phase.Individuals grow bigger than the organization • Initial Phase.

Strategies to retain key customers • • • • • • • • • • Rotating employees Let teams handle key accounts & not individuals Organize informal get-togethers with key customers Exchange of visits by vendors & customers Provide good assistants to customer contact executives Supervisors & Managers also to touch base with customers more frequently Maintain a database of customers Let the separation be a planned one Take customers into confidence Let the parting be a smooth affair .

And by adopting intelligent customer relationship management • • • • • • • • • • • • Benefits of CRM : Streamlined sales & marketing processes Higher sales productivity Added cross selling & up-selling opportunities Improved service. loyalty and retention Increased call centre efficiency Higher close rates Better profiling & targeting Reduced expenses Increased market share Higher overall profitability Marginal costing .

Data Mining Explore data Prepare data for modeling Build model Evaluate model Deploy model & results .Effective CRM • • • • • • • Define business problem Build marketing database.

The route to a successful business requires that you understand your customers and their requirements and data mining is the essential guide.Conclusion • Customer relationship management is essential to compete effectively in today’s market place. advertising and providing after-sales support. Companies should treat a customer relationship management solution as a product or service and its users as internal customers. . The more effectively you can use the information about your customers to meet their needs the more profitable you will be. pricing appropriately.by making it valuable.