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(CRM) is a widely-implemented strategy for managing a companys interactions with customers, clients and sales prospects using technology to organize, automate, and synchronize business processesprinciply sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service
Acquire: CRM can help a business acquire new customers through contact management, selling, and fulfillment Enhance: web-enabled CRM combined with customer service tools offers customers service from a team of sales and service specialists, which offers customers the convenience of onestop shopping
Retain: CRM software and databases enable a business to identify and reward its loyal customers and further develop its targeted marketing and relationship marketing initiatives
Phases
Benefits of CRM
The use of a CRM system will confer several advantages to a company:
* Quality and efficiency * Decreased costs * Decision support * Enterprise agility
Challenges
Tools and workflows can be complex, especially for large businesses.
Previously these tools were generally limited to contact management: monitoring and recording interactions and communications.
Types/variations
Sales force automation (SFA)
Marketing Customer service and support Analytics Integrated/Collaborative Social Media
Marketing
CRM systems for marketing help the enterprise identify and target potential clients and generate leads for the sales team.
A key marketing capability is tracking and measuring multichannel campaigns, including email, search, social media, telephone and direct mail.
Metrics monitored include clicks, responses
Analytics
Relevant analytics capabilities are often interwoven into applications for sales, marketing, and service. These features can be complemented and augmented with links to separate, purpose-built applications for analytics and business intelligence.
Sales analytics let companies monitor and understand client actions and preferences, through sales forecasting and data quality.
Integrated/Collaborative
Departments within enterprises especially large enterprises tend to function with little collaboration More recently, the development and adoption of these tools and services have fostered greater fluidity and cooperation among sales, service, and marketing.
This finds expression in the concept of collaborative systems which uses technology to build bridges between departments.
Social media
Social media sites like Twitter, LinkedIn and Facebook are amplifying the voice of people in the marketplace and are having profound and far-reaching effects on the ways in which people buy. Customers can now research companies online and then ask for recommendations through social media channels, making their buying decision without contacting the company
Strategy
Processes
People
Technology
Process
Though these systems have many technological components, business processes lie at its core. It can be seen as a more client-centric way of doing business, enabled by technology that consolidates and intelligently distributes pertinent information about clients, sales, marketing effectiveness, responsiveness, and market trends. Therefore, a company must analyze its business workflows and processes before choosing a technology platform; some will likely need reengineering to better serve the overall goal of winning and satisfying clients
People
For an initiative to be effective, an organization must convince its staff that the new technology and workflows will benefit employees as well as clients.
Senior executives need to be strong and visible advocates who can clearly state and support the case for change. Collaboration, teamwork, and two-way communication should be encouraged across hierarchical boundaries, especially with respect to process improvement
Technology
In evaluating technology, key factors include alignment with the companys business process strategy and goals, including the ability to deliver the right data to the right employees
sufficient ease of adoption and use. Platform selection is best undertaken by a carefully chosen group of executives who understand the business processes to be automated as well as the software issues.
Depending upon the size of the company and the breadth of data, choosing an application can take anywhere from a few weeks to a year or more
Implementation issues
Poor planning
Poor integration
Toward a solution
Adoption issues
Choose a system that is easy to use Choose appropriate capabilities Provide training Lead by example
Market structures
This market grew by 12.5 percent in 2008, from revenue of $8.13 billion in 2007 to $9.15 billion in 2008
Related trends
Many CRM vendors offer Web-based tools (cloud computing) and software as a service , which are accessed via a secure Internet connection and displayed in a Web browser.
These applications are sold as subscriptions, with customers not needing to invest in purchasing and maintaining IT hardware, and subscription fees are a fraction of the cost of purchasing software outright.
E-CRM
Differences
CRM
It provides information in response to specific customer inquiries Promotion and discounts are offered to inaividual customers Pricing of products is negotiated with each customer New product failures are created in response to customer demands
It has the uniform message of 'PUSH AND SELL for all customers Promotion and discounts are the same for all customers The sellers set the pricing of products for all customers CRM is determined by the seller,based on research and development
E-CRM solutions
Step-1:Customer information environment Step-2:Customer value orientation Step-3:Customer loyalty .
Use of e-CRM
Providing round- the-clock technical assistance and customer service Offering methods to manage and shedule follow-up scale calls Recognizing customer's value and develop suitable service strategies for all customers Storing customer interests in order to target customer selectively Tracking all communication with a customer Providing a system to rectify service insufficiencies Providing a system to shedule and manage repair and on going support Identifying potential problems before they occur Providing method to handle complaints and issues
Failure of e-CRM
Intangible benifits are not easy to measure or value
SCM
Supply chains have often been seen as rigid sequences of activities that contribute to the manufacture, production and delivery of products
SCM involves inflexible manufacturing plans, shipping schedules and questionable inventory forecast SCM spans all movements and storage of raw materials, work-in-process inventory and finished goods from point of consumption
Advantages of e -SCM
Real time advantages
Strategic advantages
Enterprise-to-enterprise connectivity
E-Marketplace-to-e-marketplace connectivity Provision of a specific marketplace
Strategic advantages
It supports the exchange of information through trading communities
It acts as an interface with any third party software It is platform independent
Many people find the idea of online shopping strange. Their confidence needs to be taken care of. A good quality website acts as a confidence booster Website: Attract visitors An ideal way to cover the costs spent on promotion of a website is to bring down the prices The more time spent by a company on its online store, the better its performance will be
Some traders are fortunate enough to receive a large number of orders on the opening day.But the majority of online stores grow slowly and steadily
ERP systems can run on a variety of hardware and network configurations, typically employing a database to store its data ERP systems typically include the following characteristics: * An integrated system that operates in (next to) real time, without relying on periodic updates. * A common database, that supports all applications.
Functional areas
Finance/Accounting
Human resources
Manufacturing
Supply chain management Project management Customer relationship management Access control
India is the fourth country in the world to have the highest number of internet users, while china is at first place
India persists to be one of the most rapidly expanding. Foremost, global telecom market
Transformations brought about by successive indian ruling regimes over the last 10 years have been successful in changing the nature of telecommunications in the country significantly
The cellular segment has developed more than ten times since 2001 to reach a peak of around 60 million subscibers by the middle of 2005
While GSM technology continues to rule, CDMA has rapidly captured 23 % of the market
There is a possibility of e-commerce expanding by 150 % to 5,500 crore in thr current financial year.
Delhi and Mumbai contributed 20 and 24% of the wholw e-shopper populace in the year 20062007
88% of online purchasers in india are males, with 86% having no less than a bachelor's degree
Electronics devices, clothing and railways, flight and movie tickets were the most shopped things
Goods expected to acheive popularity involve jewellery, books, clothing, gift items, music, movies and hotel reservations
# Computer Hardware
# Books & magazines # Electronic Appliances # Furniture & home furnishings # Toys & Hobbies. Etc
* eBay: 7th
* Amazon: 9th * Wal-Mart: 22nd * Target: 26th
Improved custumer service Origin of new business oppertunities Enhanced speed and currency of a product Product cost saving
Functions of e-Business
.E-advertising :
A companies website contains its profile and all the information on its products and services It displays banners that can be clicked
E-catalogues:
Packaging
E-publishing
Online reading/browsing
Online search
E-banking
Bill payment
Electronic cheque writing
Record keeping
Tracking of bank account , credit cards
Shopping services
Services provided by independent businesses who send their representatives to the stores to do comparison shopping for specific products.Ashopping service is hired on contrct to compare compititive prices or prices for the same item in compititive stores,depending on the requist and needs for the client.
Shopping services that are offered to cable Tv subscribers where consumers can buy products (usually at adiscount )that are displayed on a special shopping services channel Shopping services are offered to subscribers of personal information services for home computer use For eg,a company provides online information subscrIbers.Among the many services offered by this company is one called products ,guids etc .from which consumers can shop and select purchases right from their own computer terminals.
Information Services
Information service is also known as information systems. For many organizations information systems are accounatble for IT and Management Information Systems
TYPES OF E-BUSINESS
Types of e-Commerce
Portal
Electronic retailer(E-tailer)
100
AB apartment
Ajay
TYPE_HOME
200
Delhi office
Raj
TYPE_MOBILE
300
Ashirwad
kapil
TYPE_HOME
Transaction broker
Making Integration simple
E-banking
Applications in B2C
Payment of bills Fund transfer Credit cards Railway pass Investment through Internet banking
B2B Models
E-distributor
B2B Service provider: industrial marketing, fulfilment & procurement e.g. online purchase
Benefits of B2B
JIT delivery
C2C Model
Online auction
Universities
Peer-to-peer Model
CPU resources
Benefits
Users have the autority to control their own shared resources It is easy to install and configure
Drawbacks
Network security is applied to one computer at a time Every time a computer in the network is accessed, performance suffers Backup is performed on each machine separately to protect shared resources No centralized set-up to locate, manage, or control access to data
All you need to set up this network is an operating system and a few cables
Online banking
Procurement and purchasing Online marketing and advertisement Home shopping
E-Business Applications
Application Logic
Application Logic
Presentation logic
Multimedia Logic
Set-top-boxes
Wireless based
Computer based