Developing CRM Strategy

Group Members Name

Name ID
Story Mery Gharami 1290
Tonmoy Ghosh 1305
Md.Ovi Hassan 1312
Md Mohaimenul Hoque Chowdhury 1313
Md. Mahmudur Rahman Razu 1333
Mohammad Yeasin Hassan 1346
Mehran Ali 2791
Jinat Jahan Sony 2816
The Customer is King
CRM is An integrated effort
to identify, maintain, and
build up a network with
individual consumers and
to continuously strengthen
the network for the mutual
benefit of both sides,
through interactive,
individualized and value
added contacts over a long
period of time
Definition of CRM

Why is CRM Important
Identification of potential customers.
Understanding of customer needs, Both current and latent.
Differentiating profitable from unprofitable customers and
segments.
Decreasing attrition by increasing value and satisfaction.
Increasing usage of current products and services.
Increasing referrals.
Winning back lost customers.
Moving customers up the relationship hierarchy from
strangers to acquaintances to friends to partners.
Integrating marketing and sales efforts throughout the
various channels used by the company.

Benefits of CRM

Benefits of CRM include

reduced costs, because the right things are being done (ie.,
effective and efficient operation)
increased customer satisfaction, because they are getting
exactly what they want (ie. 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

This involves development of CRM strategic options for
achieving established CRM objectives for every
targeted segment, thereafter the best option shall be
adopted as the CRM strategy and the right measures
for performance shall be established.
CRM Strategy Development
Because research shows that

70% of CRM initiatives fail
Source: Cap Gemini Ernst & Young

90% of enterprises cannot show a positive return on CRM
Source: META Group

75% of CRM initiatives fail to substantially impact the
customer experience
Source: Gartner

Why should We Need to Develop CRM Strategy


Steps of Developing CRM Strategy
Set ting the
Destination
Using strategic
planning tool
Collecting Data
Assessing
Findings
Creating Strategic
proposal
Setting the Destination is the first and most important step of
developing CRM Strategy. For Setting the Destination you
have to find the answer of 3 questions

Where do you want to go ?
Where are you starting ?
How you are going to get their ?

This 3 questions that the strategic planning process will help
you answer so you can successfully build your CRM program
Setting the Destination
Basic strategic planning
(collecting data,
assessing findings,
creating a proposal ) be
applied to any strategic
initiative . Some of the
tools will be using also
are applicable to
strategic planning effort,
others of those tools are
specific to a CRM
program
The CRM strategy
development process
can follow this 8 tools
Using Strategic Planning Tool
Data collection tools that help us find answers to our three
strategic questions.
There are 3 tools of collecting Data

internal Interviews
Customer survey
Competitive Assessment
Collecting Data
1. Summarize Findings
Internal interview
-Interview summary
-Risk summary
System inventory
Customer assessment
The competitive assessment
2. Analyze Findings
Priorities
Gaps: Areas which a company is not taking advantage of and
which the customer finds to be most important, which the
company is doing the poorest in comparison to its competitors.

Assessing Findings
Strategic Recommendations
Scope
-Information (customers, employees, countries, cities,
products, equipment, inventory, targets)
-Process (order management, customer support, direct
marketing)
-Technology (systems to support CRM process & deliver
elements of the customer experience)
-People (involved in sales, marketing, customer service,
product support or in CRM process)

Creating a Strategic Proposal
Organization and governance
Organization for CRM can come from an individual, a group or a
combination.
Governance includes all the rules, responsibilities, metrics, and
so on that ensure the ongoing success of a CRM program.
Common concepts a common vision and language for
understanding current state and future direction. (CRM,
Customer, Customer segments, Customer life cycle, Touch
points etc)
The Plan
Project priorities
Project roadmap
Risk reduction plan


Creating a Strategic Proposal
(contd..)