The document discusses strategic customer relationship management (CRM), including identifying key customer touchpoints, implementing customer-centric processes to optimize profitability and satisfaction, and developing a CRM strategy through focusing on people, processes, and technology. It also provides examples of CRM systems, analytical CRM, operational CRM, workforce management, and steps for CRM managers.
The document discusses strategic customer relationship management (CRM), including identifying key customer touchpoints, implementing customer-centric processes to optimize profitability and satisfaction, and developing a CRM strategy through focusing on people, processes, and technology. It also provides examples of CRM systems, analytical CRM, operational CRM, workforce management, and steps for CRM managers.
The document discusses strategic customer relationship management (CRM), including identifying key customer touchpoints, implementing customer-centric processes to optimize profitability and satisfaction, and developing a CRM strategy through focusing on people, processes, and technology. It also provides examples of CRM systems, analytical CRM, operational CRM, workforce management, and steps for CRM managers.
N. Ganesha Pandian, Assistant professor, Madurai School of management. What is Strategic CRM? CRM is a business strategy whose outcomes optimize profitability, revenue and customer satisfaction by implementing customer-centric processes. When developing a CRM strategy, it‘s important to identify all of the functional areas of your business that touch your Customers or Prospects, and then develop and document the business processes that you will use to manage those touch points. Help better understand the needs of every individual customer Reduce customer churn - eg: lower selling costs Increase leads - eg: referrals Increase revenue per customer - eg: cross sell, upsell Help deliver a consistent experience every time People Communicate vision Recognise customer-centric behaviour Train staff on Customer Service and customer dispute resolution Make customers front and centre for all key business decisions Measure and report
-Surveys (written or face to face)
-Social media monitoring
-Mystery Shopping
- Management involved with Customer
Processes Lead management
Sales Pipeline management
-Call back responses
Accounts Management Record account specifics and all account interactions across the organisation Customer care program -Case management Dispute recognition Social media management • Marketing -Leverage technology, individual behaviours and context to drive more personalized marketing and engage prospects and customers Technology Implement a CRM System Use CRM to cement your process Make CRM central source of truth Integrate your CRM system Content Management System (CMS) ecommerce platform Marketing Automation software Learning Management System ERP Accounting software 1. Identify the best customers, and the worst 2. Distribute value differently to different customers 3. Compete on scope 4. Focus on strategic capabilities 5. Win through customer-centric innovation 6. Measure customer performance 7. Unlearn and relearn 8. Redefine the focus 9. The new competition Planning CRM – Strategies to Success CRM (Customer Relationship Management) is the successful blend of a business strategy and technology that enables a company to achieve their goals. The technology provides companies with ways to keep contact with existing customers, manage leads more effectively measure results more often ,
and business processes. standardize
Customer-facing level CRM processes Customer-oriented CRM processes Cross-functional CRM processes CRM Macro-level processes Implementation issues of CRM CRM process model Implementation issues of CRM Exclusivity Poor Planning Lack of Training Wasted Funds Defining Clear Objectives Appointing a Core CRM Team Defining the Processes Managing the Application Finding the Right Partner Executive Sponsorship Project Team Commitment Project Manager Planning and Business Process Analysis Facilitation Define Success Phased Approach Keep it Simple Train, Train, Train Seven types of CRM applications: CRM systems for call centres CRM systems for service representatives in the field
CRM systems for telemarketing
CRM systems for sales managers in the field (sales managers who are in direct contact with the client) CRM systems for marketing Analytic CRM systems for the creation of BI insights and reports based on a database of client contacts
CRM systems for servicing partners and clients over the
Internet. Analytical CRM comprises the analysis and systematic evaluation of customer data using business intelligence functions. The aim is to filter out the key facts from gathered information and gain customer knowledge. Leads in making more profitable customer base by providing high value services. Helps in retaining profitable customers through sophisticated analysis and making new customers that are clones of best of the customers. Helps in addressing individual customer‘s needs and efficiently improving the relationships with new and existing customers. Improves customer satisfaction and loyalty. Customer Analytics Marketing Analytics Sales Analytics Service Analytics Channel Analytics Data Warehousing Data Enhancement Data Mining, Personalization and Segmentation Business Intelligence Marketing Data Movement, Workflow and Integration into other CRM Applications The operational CRM includes the systematic use of analytical CRM filtered customer knowledge within the operational processes. This knowledge is used, for example, for the assessment and classification of customers, sales work or campaign management. The CRM operational provides thefunctions to do that this, so groups are specifically approached and customer customer loyalty is strengthened. Marketing automation Sales-force Automation Service Automation Monet Workforce Management Live was especially designed for small and medium sized call centers to meet their specific needs: Fast setup within days, avoiding large implementation projects Affordable monthly fees without large upfront investment Easy to use through 100% web interface Quick integration with any ACD or PBX for call history and real time adherence Hiring Natural Talent Thorough Training Smart Scheduling Regular Evaluation Positive Incentives Contact Centre Performance Contact Centre Scheduling Workforce Management Customer Care Solutions Recruitment and Retention Steps to be followed by CRM managers Customer relationship managers should know their customer's needs , wishes and dreams. He or she should be well versed in the value delivered to customers and the problems customers are trying to solve. The customer relationship manager will not only solve customer requests but will proactively offer ideas and insights to improve the customer's issues and challenges. The customer relationship manager will follow up on every issue and ensure complete satisfaction and maximum utilization of the product or services sold to customers. They love data and can explain its complexities simply in order to drive actionable consumer insight. They will be able to own and manage a loyalty scheme and ongoing campaigns, setting the strategy in place for revenue benefits through loyalty. They will have great marketing communication ideas They will communicate well and work closely with other marketing department players such as email managers, social media and PR Choose the right tool and generate more sales CRM tool for customer data CRM for organization CRM Tools for Reports Using a CRM tool to close sales Sage act Big contacts Splendid CRM Daylite Stride Infusion soft Stitch labs Insightly Sugar CRM Landslide Vtiger On contact Oprius Pipeline Deals Plaxo