Customer Relationship Management (CRM)

Presented by Nilotpal Chakraborty SFSP, DAVV, Indore

CRM

CRM

Nilotpal Chakraborty

Introduction
Customer relationship management (CRM) is a business strategy which provides with a vision for the way an organization wants to deal with its customers. CRM is both a business strategy and a set of discrete software tools and technologies, with the goal of reducing costs, increasing revenue, identifying new opportunities and channels for expansion, and improving customer value, satisfaction, profitability, and retention.
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Customers
Supplier Partners Employees Investors Individuals Business organizations Government agencies Other stakeholder
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Building blocks of CRM

1) A database that collects information about the customers. 2) A way to analyze the information in the database. 3) A strategy for applying the analysis to better meet your clients needs and identify potential customers. 4) Collecting data to ensure CRM strategy is effective. 5) Privacy issues 6) Metrics for measuring the success of the CRM program.
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Benefits of CRM
Effective CRM gives you the opportunity to show the your customers that
You know and recognize them You understand them You care about their needs, questions and concerns You want to deliver services and products they need the most You appreciate their business
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Benefits of CRM
Reduced costs Increased customer satisfaction Growth in numbers of customers Maximisation of opportunities Better and more timely decisions Increased access to a source of market and competitor information Highlighting poor operational processes Long term profitability and sustainability
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..for the organization

Maximize repeat business opportunities by anticipating existing customers needs Identify best customers Identify potential customers Identify complementary products that can be sold to the customers Target marketing campaigns/materials and promotions
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..for the customers

Make ordering or buying easier through pre-filled order forms and e-mail reminders Tailor the shopping experience for your customers, allow self-service, and thereby reduce customer response times Develop an e-newsletter with topics that would be of interest to customers Offer free or discounted complementary products to customers Offer incentives for additional or future purchases Offer a chat room or online forum where
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Implementing CRM
CRM is a business philosophy, NOT a technology. Successful CRM system implementation is critical to ensuring that the recipient organization receives the features and resources required to succeed. Staying involved ensures the organization receives the product and services expected. Develop strategy, then select technology. Identify products and target customers.
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CRM Cycle

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Information Technology & CRM

Technology plays a pivotal role in CRM. Technological approaches involving the use of databases, data mining and one-to-one marketing can assist organisations to increase customer value and their own profitability. This type of technology can be used to keep a record of customers names and contact details in addition to their history of buying products or using services. This information can be used to target customers in a personalised way and offer them services to meet their specific needs. This personalised communication provides value for the customer and increases customers loyalty to the provider.
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Information Technology & CRM

Some of the CRM technologies Cookies Loyalty cards CRM software Well known CRM vendors Oracle Microsoft SAP America Inc.
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Conclusions
Organizations need to know their customers and understand their needs and interests. Streamline interaction between the organization and its customers helps in fast and better quality services. Helps in retaining and improving customer base.

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THANK YOU

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