Crm

PRESENTATION ON CUSTOMER RELATIONSHIP MANAGEMENT PRESENTED BYMOHD SAEED PGD07042 PGDM,IMS DEHRADUN

CUSTOMER RELATIONSHIP MANAGEMENT CRM is the strategic use of information, process, technology, and people to manage customer’s relationship with your company (marketing, sales, services and support ) across the whole customer life cycle. Although our definition of CRM is broad and complex but its goal is simple To maximize the value of your company’s customer asset. including

•Customer loyalty •Company’s revenue •Company’s profit

ELEMENTS OF DEFINITION CRM focused on strategic impact rather than operational impact. Benefits are generally long term rather than immediate. CRM is total discipline. To understand CRM it as having a same component as any manufacturing busines. Lets take it as. CRM technology Machine People

Power Customer information Process and interaction

Raw material Product

CRM technology and people to turn customer information into process and interaction that builds customer loyalty. CRM includes all the functions that directly touch the customer throughout his/her entire life with your company. It touches multiple organizations and crosses boundaries but function usually included in CRM effort is marketing, sales, customer services and product support ( it is whether internal or through channel partner, whether on or off the web. – so the definition of CRM is quite broad and covers many,but CRM is limited to activity that take place in the customer facing function including marketing, sales, services, and product support. It means it is limited to front office function.

COMPONENTS OF CRM INFORMATION : Information is raw material of CRM. These type of information are useful to CRM. •Identification data •Marketing data •List data •Overlay data

2. PROCESS : Customer centered processes are the “product” of CRM. some examples are; •All current process that directly touch the customer. •Touch points by which we interact with customer such as phone, e-mail etc. •Integrating and rationalizing the processes from customer’s point of view.

TECHNOLOGY: Technology is machinery that enables the CRM to work. These are examples of technologies that CRM may find useful; •Software product (process automation tools, analysis tools, web site development, and management tools.) •Networking and integrating application and database. Security features, such as encryption tools and firewalls.

PEOPLE: People are power supply of CRM. The energy source must be set to the right voltage for entire system to work. People are reset through various change management tools and support mechanisms, such as; •Training and education. •New tools. •Measurement and rewards.

CUSTOMER LIFE CYCLE The customer life cycle is total time that a customer is engaged with your company from the customer’s experience and viewpoint. There is high level of cycle that is consistent for customers, no matter the product or services and no matter how much how much the customer spend on each stage; 1. Consider: Customer becomes aware of need and investigates alternative solution. 2.Purchase: Customer evaluates and chooses the best alternatives and place an order. 3. Set

up: Customer install the product and learn how to use it. 4. Use: Customer operates and maintain the product and finally makes the decision to retire it or upgrade, which starts the cycle all over again.

P u rc Or r de

I n s ta

S Le

p etu

ha s e

on Eva Ch luate/ o o se

ati tig es

se U

ain

inv

er

sid

M ain t

Aw are

/ e d a gr p U ire ret

on C

arn

THE CUSTOMER LIFE CYCLE

ll

THE CRM HIERARCHY Increased Customer Loyalty= Increased profit Integrated and Personalized interaction That increased value to customer Data enabled processes/tools Integrated customer knowledge Customer transaction data silos

NEED OF CRM Why CRM ? Keeping in mind the pace at which technology is changing today, any company which is a step ahead of others because of some web product or service will not be able to hold on to that advantage for long. The key to stability in today's dynamic marketplace is forging long-term relationships with the customers.

Customers can be divided into three zones: 1. Zone of defection where customers are extremely hostile and have the lowest level of satisfaction. 2. Zone of indifference where customers are not sure. They have a medium level of satisfaction and loyalty towards the company. 3. The third level of customers are in the zone of affection described as "Apostles". CRM focuses on bringing customers from level 1 to level 3 and retaining apostle customers.

How would you expect the storekeeper at your nearest store, where you are a frequent visitor, to offer you personalized service? Well, he would know your favorite items and preferred brands, won't he? So, he organizes them to be in your easy reach. Perhaps he may himself suggest a new product, which was introduced recently, that falls within your Interest area. Now this is not very imaginative isn't it? It required quite a few visits for you to get this personalized service. What about someone just like you who is coming to this store for the first time? To make it more clear, now consider your storekeeper friend. Based on his data about you, he can go a step further and watch your buying pattern. He also tries to understand all the youth in a similar age group and then tries to say that all youth in the age group 21- 29 who come to my store prefer these types of products. Their buying peaks in summer and therefore it makes sense to run promotions targeting the youth in summer.

IMPORTANCE OF CRM CRM Customer Relationship Management is one of the newest innovations in customer service today. CRM stands for customer relationship management and helps the management and customer service staffs cope with customer Concerns and issues. CRM involves gathering a lot of data about the customer. The data is then used to Facilitate customer service transactions by making the information needed to resolve the issue Or concern readily available to those dealing with the customers. This results in more satisfied customers, a more profitable business and more resources available to the support staff. Further more, CRM Customer Relationship Management systems are a great help to the management in deciding on the future course of the company. As mentioned, there is much data needed for the CRM system to work. These fields include the customer name, address, date of transactions, pending and finished transactions, issues and complaints, status of order, shipping and fulfillment dates, account information, demographic data and many more. This information is important in providing the customer the answer that he or she needs to resolve the issue without having to wait for a long time and without going to several departments

With just a few mouse clicks, a customer support representative for example can track the location of the customer’s package or order. This is infinitely better than the cumbersome process of tracking shipments previously. Furthermore, the customer service representative will also be able to see the previous concerns of the customer. This is a great help especially if the customer is calling about the same issue since he or she will not have to repeat the story all over again. This results in less time in resolving the issue, thus, higher productivity of the support staff. CRM Customer Relationship Management systems are also important to the top management because it provides crucial data like customer satisfaction and efficiency of service by the frontline crews. A piece of customer relationship management software will also be able to generate the needed reports for product development or new concepts. Furthermore, this system will also be a great help for the top management in deciding the company’s future course of action, whether it involves phasing out one of the products on the shelves or making adjustments to one of the products sold.

CRM IN HOTEL INDUSTRY In the world of servicing guests, there are as many challenges as there are, well... challenging customers, but I think in the current age of "branding" one of the biggest ones is ensuring a consistent customer service experience. This challenge is threepronged: First, managers must be able to manage consistency in the face of interchanging slow and busy times and seasons. Second, consistency needs to be ensured across job titles, roles, and pay ranges. Third (or perhaps First, if you'd like), the marketing message must be in tune with a plan to set guest expectations according to the season and customer tier considerations. The guest servicing standards themselves should focus on not just consistent responses, but also should prevent consecutive negative experiences. In other words, if a guest has experienced a negative event (i.e. complained that the room wasn't clean upon check in), this fact needs to be captured and made available to customerfacing employees so that they can put an extra effort into making sure that the remainder of the hotel stay or restaurant experience is as positive as possible.

A further back-end benefit to capturing the negative event information is that it will enable analysis of customer experience shortcomings. This in turn allows for active methods for managing, monitoring, and predicting customer satisfaction, which can then lead to fine-tuning the marketing message, interaction standards, and employee training. Predictive analytics can be used to understand latent pain or dissatisfaction before it percolates and impacts customer loyalty.

CRM SOLUTION Customer relationship management (CRM) is more than the practice of collecting guest-centric data. It’s the art of using historical, personal, and experiential information to personalize a guest’s stay while generating incremental revenue opportunities. Knowing a traveler is an avid sports fan creates the opportunity to market tickets to a game; knowing a guest had a less-than-memorable experience in the hotel restaurant gives you a chance to win them back the next time they are in town. Microsoft partners have developed a number of leading CRM solutions based on the latest generation of Microsoft technology. Using the Microsoft suite of applications, devices, and technology, Microsoft partners can provide you with CRM solutions that personalize the guest experience and help you generate more revenue.

With the latest offerings in CRM, hoteliers can Develop comprehensive guest profiles from reservation information and demonstrate to guests that the property is in touch with their needs. Drive guest-centric data down to the transaction level, allowing employees and guest-facing technology to deliver greater value to the guest. Generate a realistic profile on the spending and stay patterns of guests, allowing the property to create guest-centric marketing for increased loyalty and spending