Presentation On Customer Relationship Management
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Presentation on customer relationship management
Prepared by: Mandeepa Bhatia Roll no: 260517
agenda RELATIONSHIP MANAGEMENT
Definition of CRM Concept of CRM Evolution of CRM Various Schools of thoughts of CRM
2
Definition of customer relationship management
RELATIONSHIP MANAGEMENT
CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example: An enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth.
3
Concept of customer relationship management
RELATIONSHIP MANAGEMENT
CRM is a combination of policies, processes, and strategies implemented by an organization to unify its customer interactions and provide a means to track customer information. It is used to support these processes; information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing. It involves the use of technology in attracting new and profitable customers, while forming tighter bonds with existing ones.
4
CRM includes many aspects which relate directly to one another
RELATIONSHIP MANAGEMENT
Front office operations — Direct interaction with customers, e.g. face to face meetings, phone calls, email, online services etc. Back office operations — Operations that ultimately affect the activities of the front office (e.g., billing, maintenance,planning, marketing, advertising, finance, manufacturing, etc.) Business relationships — Interaction with other companies and partners, such as suppliers/vendors and retail outlets/distributors, industry networks (lobbying groups, trade associations). This external network supports front and back office activities. Analysis — Key CRM data can be analyzed in order to plan target-marketing campaigns, conceive business strategies, and judge the success of CRM activities (e.g., market share, number and types of customers, revenue, profitability).
5
Evolution of CRM
The first trend is the availability of robust, scalable decision support technology. Data warehouse software is helping companies collect vast quantities of data from multiple, heterogeneous sources, such as accounting, manufacturing, human resources, sales force automation, and customer service applications. This provides the technological foundation for building a consolidated, enterprise wide view of the customer, rather than a limited perspective offered by departmental applications. 6
RELATIONSHIP MANAGEMENT
Three converging trends have enabled the emergence of CRM applications as a major force in the market place.
Evolution of CRM cont…. The second trend is the emergence of frontoffice applications. This has made it easier for companies to identify and track customers. It tends to focus on the sales and the marketing departments.
RELATIONSHIP MANAGEMENT
7
Evolution of CRM cont…. The third trend is the recognition that a new, individual customer-focused marketing model is needed to maintain a competitive advantage. The emergence of the one-to-one marketing phenomenon has helped companies to have their marketing activities focus on the customer, rather than on their products, distributors, sales force or suppliers. One-to- one marketing helps drive an analysis of customer share, rather than market share.
RELATIONSHIP MANAGEMENT
8
Various Schools of thoughts of CRM
RELATIONSHIP MANAGEMENT
There are three different schools of thought with regard to whether cultural heritage can contribute in any meaningful way towards poverty eradication and national economic development in Uganda. The traditional economists, generally view cultural heritage as a barrier to poverty eradication and economic development. A recent study of culture and media in Poverty Reduction Strategic Papers (PRSPs) noted that a number of countries, “make no reference to culture or only mention culture in a way that it implies a negative or lacking societal characteristic that needs to be addressed.”
9
Various Schools of thoughts of CRM cont….
RELATIONSHIP MANAGEMENT
The second school of thought is that of professional cultural workers and scholars. This group sees cultural heritage as an indispensable and vital force in fostering social and economic development.
10
Various Schools of thoughts of CRM cont….
RELATIONSHIP MANAGEMENT
The third school of thought belongs to the cultural practitioners and the majority of members of local communities. Due to the lack of vital information, they are uncertain whether cultural heritage has the potential to reduce poverty. Some of them are skeptical, while others just admit they do not know.
11
RELATIONSHIP MANAGEMENT
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! ! !
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Prepared by: Mandeepa Bhatia Roll no: 260517
agenda RELATIONSHIP MANAGEMENT
Definition of CRM Concept of CRM Evolution of CRM Various Schools of thoughts of CRM
2
Definition of customer relationship management
RELATIONSHIP MANAGEMENT
CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example: An enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth.
3
Concept of customer relationship management
RELATIONSHIP MANAGEMENT
CRM is a combination of policies, processes, and strategies implemented by an organization to unify its customer interactions and provide a means to track customer information. It is used to support these processes; information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing. It involves the use of technology in attracting new and profitable customers, while forming tighter bonds with existing ones.
4
CRM includes many aspects which relate directly to one another
RELATIONSHIP MANAGEMENT
Front office operations — Direct interaction with customers, e.g. face to face meetings, phone calls, email, online services etc. Back office operations — Operations that ultimately affect the activities of the front office (e.g., billing, maintenance,planning, marketing, advertising, finance, manufacturing, etc.) Business relationships — Interaction with other companies and partners, such as suppliers/vendors and retail outlets/distributors, industry networks (lobbying groups, trade associations). This external network supports front and back office activities. Analysis — Key CRM data can be analyzed in order to plan target-marketing campaigns, conceive business strategies, and judge the success of CRM activities (e.g., market share, number and types of customers, revenue, profitability).
5
Evolution of CRM
The first trend is the availability of robust, scalable decision support technology. Data warehouse software is helping companies collect vast quantities of data from multiple, heterogeneous sources, such as accounting, manufacturing, human resources, sales force automation, and customer service applications. This provides the technological foundation for building a consolidated, enterprise wide view of the customer, rather than a limited perspective offered by departmental applications. 6
RELATIONSHIP MANAGEMENT
Three converging trends have enabled the emergence of CRM applications as a major force in the market place.
Evolution of CRM cont…. The second trend is the emergence of frontoffice applications. This has made it easier for companies to identify and track customers. It tends to focus on the sales and the marketing departments.
RELATIONSHIP MANAGEMENT
7
Evolution of CRM cont…. The third trend is the recognition that a new, individual customer-focused marketing model is needed to maintain a competitive advantage. The emergence of the one-to-one marketing phenomenon has helped companies to have their marketing activities focus on the customer, rather than on their products, distributors, sales force or suppliers. One-to- one marketing helps drive an analysis of customer share, rather than market share.
RELATIONSHIP MANAGEMENT
8
Various Schools of thoughts of CRM
RELATIONSHIP MANAGEMENT
There are three different schools of thought with regard to whether cultural heritage can contribute in any meaningful way towards poverty eradication and national economic development in Uganda. The traditional economists, generally view cultural heritage as a barrier to poverty eradication and economic development. A recent study of culture and media in Poverty Reduction Strategic Papers (PRSPs) noted that a number of countries, “make no reference to culture or only mention culture in a way that it implies a negative or lacking societal characteristic that needs to be addressed.”
9
Various Schools of thoughts of CRM cont….
RELATIONSHIP MANAGEMENT
The second school of thought is that of professional cultural workers and scholars. This group sees cultural heritage as an indispensable and vital force in fostering social and economic development.
10
Various Schools of thoughts of CRM cont….
RELATIONSHIP MANAGEMENT
The third school of thought belongs to the cultural practitioners and the majority of members of local communities. Due to the lack of vital information, they are uncertain whether cultural heritage has the potential to reduce poverty. Some of them are skeptical, while others just admit they do not know.
11
RELATIONSHIP MANAGEMENT
T
a h
k n
o y
! u
! ! !
! ! !
! ! !
12
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