CRM - Lecture notes 3-7 PDF

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CRM

Gartner Magic Quadrant: - not customers 1. Sales Force Optimization 2. Customer Engagement Why do you need IT to engage customers?  Aware of complaints What is CRM?  A series of processes to capture, integrate, analyse and disseminate information on individual customers to boost the effectiveness of customer facing functions and maximize the lifetime value of customer’s relationships.  Overall process to engage customers and create and maintain relationships  Capture history of customer preferences  Tailor services don’t create your customers like strangers, in a single historical relationship  Developing new services based upon predictions, are there gaps and new opportunities. The CRM process:  Why identify low value customers if you are focused on customer intimacy: benefit services, everyone deserves respect and dignity.  High value usually earns more customer service, you can then convert and better match them to customers you have. Information systems by organization level:  You’re working between tactical and operations: junior associates use CRM  Strategic: customers and transactions to predicte behaviour in the future. CRM functions:  Sales: o Telephone sales o Web sales o Retail store sales o Field sales  Service: o Call centre data o web self-service data o wireless data  Marketing: o Campaign data

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o Content o Data analysis Enabling technologies: hardware o Instore kiosk o Smart card with NFC signals : the middle ground between cash and mobile payments was going to be near field- need more research into it. o Indoor GPS enabled mobile phone Software and data: o Sales Features o Marketing o Service CRM BENEFITS: o Identify and target customers o Track all customer contacts and needs in one place  Patterns of behaviour  Consistent interaction o Real time customization of products and services o Generate loyalty and retention- what role the system plays?  Capture defect in service- proactively treat the defect  i.e. Novotel captures the defect faced by the customer (register and address the issue) and the repeat in trip will not face the same problem. Social Citizens CRM PITFALLS:  Strategy: o Poorly defined business req. o Inadequate deployment method o Not achieving organizational aligment  People: o Inadequate attention paid to change the management and training o Slow user adoption o Difficulties in aligning the organizations culture with new waye of managing work  Process: o Poor business process redesign o Need to customize solutions to fit unique organizational requirements  Technology: o Difficulties in aligning the organizational culture with new ways of automating work o Technical/integration difficulties in supporting company processes

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Staples: o Q1. Strategic Social Media- challenge going global- use cultural competence, NA Being unique and not applicable on a global scale.  E-commerce- concerns about instore purchases, make use of sale associate- training and education, thus be a problem solver.  Consulting/BPO services- Through Customer Intimacy and Product leadership overlap. Obtain reviews from/about the vendor—measure efficiency o Q3. Keep up with customer online to guide their decision, analyse/obtain information that is problematic and your sales associate can find solutions. 1. Reviews 2. Download the mobile application 3.

Every business strives to retain and understand consumer habits. Especially in this heavily globalised world, firms continue to achieve maximum efficiency in all the Business Value Disciplines. In this case, the CRM Information frameworks assume a major part to distinguish and target the key clients in light of the fact that CRM frameworks discloses to us which customers’ purchase majority of the products/ sales pattern per customer and the estimation of the things they buy so we can differentiate our key clients manoeuvre our marketing strategies. Finally, CRM systems allows the firm to meet its value disciplines but has few shortfalls. In terms of Operational Excellence- CRM has helped companies manage customer data, but often has failed to transform the customer experience. For many businesses, CRM has become just another system – another data silo that may integrate sales and marketing to some degree, but is isolated from everything else. However, in terms of Customer Intimacy the overall Behavioral data includes transaction information such as order information, payment history, and shipping addresses (data you typically have in CRM systems). This integration and alignment of important data is key for firms to be efficient....