CRM through KM

CRM definition
Collection of people, process & equipments to effectively, efficiently & systematically manage relations with customers Customer Relationship management is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create superior value for the company and the customer

WHAT IS CRM?
A A A A A A A A Strategy, Process, Software, Philosophy, Project, Programmer, Buzzword, Call center Support

What CRM does

Why CRM?
Increased competition Understand customer needs better Anticipate customer needs better Provide better services Increased customer acquisition cost Increase customer loyalty & retention Increase share of purse Discover new customers Reducing risks in DM Agile & effective decisions Increase profits

Basic customer expectations

CRM architecture
Operational automation data capture ATMs Analytical supports analysis of data post facto banking software Interactive real time interaction & analysis Mattel toys

Face-to-face CRM
CRM can also be carried out in face-toface interactions without the use of technology Staff members often remember the names and favourite services/products of regular customers and use this information to create a personalised service for them. However, face-to-face CRM could prove less useful when organisations have a large number of customers as it would be more difficult to remember details about each of them.

Technology in CRM
Data Capture AVMs, Cards, Cookies. Data Analytics Data mining & Data Warehousing Interactive Marketing Web, phones.

Customer Knowledge Sources.

CRM value chain

Objectives of CRM
Recruit new customers Retain loyal & profitable customers (discriminate customers) Regain lost customers

CRM K requirements
What CRM needs to understand while differentiating customers is? - Sensitivities, Tastes, Preferences and Personalities - Lifestyle and age - Culture Background and education - Physical and psychological characteristics

CRM Application Clusters

Phases of CRM

Benefits
CRM can keep track of when a customer contacts the company, regardless of the contact point. CRM makes possible real-time customization and personalization of products and services CRM allows a business to identify and target their best customers provide a consistent customer experience

Benefits of CRM
reduced costs, because the right things are being done (i.e., effective and efficient operation) increased customer satisfaction, because they are getting exactly what they want (i.e. meeting and exceeding expectations) ensuring that the focus of the organisation is external growth in numbers of customers maximisation of opportunities (eg. increased services, referrals, etc.) increased access to a source of market and competitor information highlighting poor operational processes long term profitability and sustainability

CRM & CKM process

Decide the business strategy Define the K & R requirements Develop & deploy the CRM systems Align Organisational culture with CRM Audit, Evaluate & Improve

CRM Failures
Lack of understanding and preparation CRM projects implemented without the participation of the business stakeholders involved