Professional Documents
Culture Documents
Prepared by Nilesh Sen Manohar Rathore Riddhi Mehta Jesal Kothari Jaydeep Budheliya Shekher Nirmal Amod Hardikar
Submitted to
Rural or Urban, Old OR Young, Malls OR Kirana Shops & So on People from every Nook & Corner needs everything which is available @ Retail Store.
O V E R V I E w
Emerging
Growth Retail Boom Managing its NO.1 Position
2008
2010
Customer Satisfaction
Micro Marketing
Rank 1 2 3 4 5 6 7 8 9 10
Company Wall mart Kroger Target Wal Green Costco The home depot CVS caremark Lowes Bestbuy Safeway
Rank
Company
1
2 3 4 5 6 7 8 9
REI
IKEA Costco Nordstrom J Crew The Gap American Eagle outfitter Anthropologies H&M
10
DSW
Maharashtra
Ahmedabad
Goa
Facts about CR
Leaky Bucket Theory CRM is part of CR
Customer complaint
Advantages of CR
Zero Customer Defection
Improve profitability
Customer delight
However many rewards program are misunderstood and often wrongly applied.
Customer portfolio analysis, customer retaining mareting mix, reorganisation for Customer retention.
Purchasing history
Design of a portfolio
Portfolio segment
Contd..
Customer Categories First time customers Repeat Customer Switched away, then returned Last time (Defectors) Total Actual Sales Target sales (2012) (2013) 28% 25%
40% 10% 60% 5%
22%
100%
10%
100%
Lack of Sensitivity
Capturing customers
Rewards
Shehker
3. provide the ultimate customer experience (e.g. multiple touchpoints, 360 degree view of the customer).
Examples of questions that help gauge the health of the client's CRM include:
How would you define CRM? What types of customer information is captured/tracked (acquisition/retention costs, churn, cost to serve, etc.)? What information would you like to know about your customers that you currently do not? Done by interviewing Executives, Managers, Marketers, Front line staff
Also important to understand company's future direction (usually between 6 months and 2 years). Then comparison of current state of CRM against best practices within the companies respective industry.
Example of a "process" value opportunity is improving data capture for all customer contacts across sales functions and touch points (e.g. phone, e-mail, etc.).
"People" value opportunities may involve additional training on service procedures for capturing customer data. "Technology" value opportunities might include developing a data warehouse.
An effective way to define relevant projects is through brainstorming sessions with the client. Samples of the outcome of a session might include:
Understand customer profitability Enhance call center operations by implementing sophisticated touch-point technologies Establish a data warehouse Improve sales force training
Details and costs of required resources (people, technology, training, outsourced resources, etc.), Projected duration of time of each project. Potential benefits
For example, a typical CRM investment ranges from $10 to $25 million (or more) over a three to five year period. The amount is wholly dependent upon how many initiatives have been identified and how extensive those initiatives are. Examples: Marketing Insight initiative Sales force automation initiatives
A Final Thought...
Achieving success in developing intimate and enduring relationships with customers begins with a holistic consideration of an organization's functions and abilities that affect its consumer's objectives.
Developing a CRM Roadmap therefore, is a continuous process and not just a one-time exercise, because customers' needs and preferences change constantly. The correct strategy can help your organization form deeper relationships with its consumers, and also obtain a competitive advantage in the marketplace.
Amod
Riddhi
Process
Companies are slow/unwilling to modify business process to support both customer relationship comfort zone of staff OR customer old way of doing things,tentative responsibilities etc.--Sleepary Scope.
Perception
CRM must be viewed as job enabler not as latest in the series of doctrine to be implemented corporate policies. People are made to believe that they should be able to accomplice the test in less time and purpose new task as well.
Privacy
Understand the quid procque are more lokely to share their personal informationwith the company if they
Politics
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