E-Customer Relationship Management (e-CRM)

ByPreeti Jyoti A2011/017

Customer Relationship Management (CRM)

CRM is a strategy by which companies optimise profitability through enhanced customer satisfaction. CRM is about automating and enhancing the customer-centric business processes of Sales, Marketing, and Service. CRM not only deals with automating these processes, but also focuses on ensuring that the front-office applications improve customer satisfaction, resulting in added customer loyalty that directly affects the organizations bottom line.

CRM works by collecting leads or consumer information. Analyzing the collected information to understand customer or market requirements. Adjusting marketing campaigns accordingly to increase sales.

Need for e-CRM or the problems faced by Traditional CRM

Vendor offerings exist within the broad CRM categories of sales strong, service and marketing. CRM evolved with different vendors carving out their own niches in complete isolation from the others. Lack of a single customer-centric data warehouse has caused any addition of more customer touch points only served to worsen the problem caused.

CRM Evolution
Cost Reduction Strategy Growth Strategy

BPR

ERP

SFA

CRM

eCRM

Business Led

IT Led

Marketing Led

1980s

1990s

2000s

e-CRM
e-CRM (Electronic Customer Relationship Management) expands the traditional CRM techniques by integrating new electronic channels, such as Web, wireless, and voice technologies and combines it with e-business applications into the overall enterprise CRM strategy.

The goal is to drive consistency within all channels relative to sales, customer service and marketing initiatives to achieve a flawless customer experience and maximize customer satisfaction, customer loyalty and revenue.
Therefore ,it is just an expanded, integrated version of CRM . Thus, Old CRM + Internet = e-CRM

e-CRM Strategy Components

When enterprises integrate their customer information, there are three e-CRM strategy components:
Because of sharing information, the processes in business should make customers need as first and seamlessly implement. This avoids multiple times to bother customers and redundant process.

Operational
.

Collaborative
Due to improved communication technology, different departments in company implement (intraorganizational) or work with business partners (interorganizational) more efficiently by sharing information.

e-CRM

Analytical
Analysis helps company maintain a long-term relationship with customers

The differences between CRM and e-CRM

Customer Data

Analysis of Customer Characteristics

Customer Service

Data Warehouse CRM

Customer Information Products Information Transaction History

Transactional Analysis Target marketing

Customer Profile Past Transaction history Static Service One Way Service Time and Space Limit

Web House
Customer Information Transaction History Products Information Click Scream Content Information

Transactional Analysis One-to-One-Marketing

Customer Profile Past Transaction History Real Time Service Two Way Service At Any Time From Anywhere

e-CRM

Activity Analysis
Exploratory Analysis (Navigation, Shopping Cart, Shopping Pattern, etc.)

Key Applications of e-CRM

Information Integration Application

An incomplete view of customers reduces their loyalty and trust Consolidating customer data and information from different sources To keep up with every customers interaction

Customer Analysis Application

Measures, predicts, and interprets customer behaviors Predictive models to identify the customers most likely to perform a particular activity Online analytical processing, data mining and statistics

Continued.
Real-time decision application To coordinate and synchronize communications across disparate customer An effective real-time decision application promotes information exchange between the company and every customer Personalized messaging application Building customer profiles and enables customized product and service offerings based on the information integration application

Benefits :
Retaining existing customers. Selling more to existing customers. Finding and winning new customers. Interactions lead to trusted relationships: Focus the business on improving customer relationships and earning a greater share of each customers business.
Increasing efficiency. Improving marketing and sales decision making. Enabling process measurement leading to process improvement.

Continued.
Enables 24/7 customers interaction: optimize interactive relationships between customers and companies.

Personalization through technology: enable a business to extend its personalized messaging through the Web and email.

Goals of e-CRM
Reduce :

Costs of marketing

Improve :

Accuracy and relevancy of recommendations Customer satisfaction

Increase :

Conversion rate, i.e., Turn browsers into buyers Customer retention and frequency Order size

Continued.

customer response competitiveness through differentiation Profitability.

Thank You!!