CRM - Customer Relationship

Management
"Get closer than ever to your customers. So close that you tell them
what they need well before they realize it themselves." - Steve Jobs,
Apple Inc.
Presented by
Aniket(16157)
Bhupesh Bhole()
Gandhali Najpande(16211)
Rishikesh Zade(162)
Rohit Chavan(16263)
Saurabh Borhade(16219)
Shashank Dongre(16233)
Shashank Thawkar(16265)
Shweta Bhalerao(16236)
 EVOLUTION of CRM

Personal Information Manager

Contact Management System
Sales Force Automation
Customer Relationship Management
E- CRM
 CONCEPT OF CRM
Customer Relationship Management (CRM) is a way to identify,
acquire, and retain customers, a business greatest asset. Research has
shown that companies that create satisfied, loyal customers have
more repeat business, lower customer-acquisition costs, and stronger
brand valueall of which translates into better financial performance.

The idea of CRM is that it helps businesses use technology and human
resources to gain insight into the behaviour of customers and the
value of those customers.
Customer Management Services

Maintain customer contact information

Organize customer interactions
Track customer habits, actions, etc.
Manage customer requests
Measure campaign success
Lessen business risks
Provide instant metrics
Track industry trends
Create tailored customer experience
Various Definitions of CRM

A Management Philosophy Perspective

A Computerized System/Software Application Perspective
A Business Strategy/Process/Tool Perspective
General Perspective(Principles, Practices and Guidelines)
Customer Life Cycle(CLC) Perspective
Who are called as Stakeholders
A stakeholder is anybody who has a claim, stake or vested interest in
the issue at hand, or in an organization, or in his or her relationship
with a product, service or brand.
Customers are one of most important type of stakeholders. They hold
the key to the value in the company and in fact, the company itself

Chpt no.6, Author:Shweta Bhalerao

 Who are
Stakeholders

Chpt no.4, Author:Bhupesh Bhole

Various mediums of CRM
Different Industries. Different Customer Needs.
All industries are different and have different customer needs and
customer service requirements. Nevertheless, all of them have one
idea in common: there is no business without customers.
Different Industries considered:
Hospitality
Telecom
Banking
Insurance
Airline
Automobile

Chpt no.4, Author:Bhupesh Bhole

CRM in Hospitality
CRM in Hotels and Resorts determine which customers patronise the same
hospitality brand on a regular basis.
Catering to valuable guests
Better customer data yields benefits
New directions online
Catering to valuable Guests
Better Customer data yields better benefits
New Directions online
CRM in Telecom: Essentials of an effective CRM Model in Telecom Industry
Well defined CRM strategy
Competitive Analysis
Error Free order entry and validation
Value based customer service differentiation
Smarter acquisition
Proactive Churn Mitigation
Migrating prepaid customer to post paid subscriptions
Knowledge management
Real time retail channel management
Billing Management.

Chpt no.4, Author:Bhupesh Bhole

CRM in Banking
Increased competition in the banking market, reduced customer loyalty, easiness in
switching between banks for customers and changing customer trends lead to banks to
find a solution to attract and retain customers to increase their profit.
Prime benefits of CRM in Banking Industry
Improvement in customer service
Value added cross selling which in turn increases volume
Improved communication
Collection of customer data
Effective surveys
CRM in Insurance
To maintain competitive edge and viability, insurance companies are focussing intently
on delivering superior customer service.
Key aspects which an insurance industry needs to include are
Providing a unified enterprise customer view
Retaining customers with great services
Controlling costs as the insurance company in question expands
Chpt no.4, Author:Bhupesh Bhole
CRM in Airlines Industry
Airlines success heavily depends on its ability to intelligently manage sales, marketing
and service processes and to draw mutual advantages from understanding of airlines
customers
Airline e-CRM model should consider
Understanding of customer behaviour
Single view of customers across the enterprises
Directly connect airlines and passengers
Suppress time and space limits
Be profitable and achieve sustainable revenue growth
CRM in Automobile Industry
CRM in automobile industry must consider two vital principles
Understanding purchase cycle intimacy
Analyse ownership experience
Web enables systems also make it easily possible to capture crucial customer
insights in the midst of the buying process
Chpt no.4, Author:Bhupesh Bhole
CRM Cycle

Chpt no.4, Author:Bhupesh Bhole

 Types of CRM

CRM

OPERATIONAL ANALYTICAL COLLABORATIVE

Chpt no.7, Author:Aniket Ahire

 OPERATIONAL CRM
Streamlines the business process
Includes Sales Marketing and Service
Automation Sales
Marketing

PURPOSE
Generate the leads, Service

Convert them into contacts,

Capture all details and
provide all services throughout the life cycle
Streamline the business process
Operational CRM
Chpt no.7, Author:Aniket Ahire
A.Sales Automation
Purpose
Set the standard within the organization to acquire
new customers and deal with the existing customers.
Helps to Automate the Sales process
Organize the information in such a way that the
business can meet the customers needs in a better way
and increase sales

B.Marketing Automation
Purpose
To find out the best way to offer the products and
approach potential customers
Major module in marketing automation is Campaign
Management
Chpt no.7, Author:Aniket Ahire
C.Sevice Automation
Purpose
To Enable to businesses to retain customers by
providing best quality of service and building strong
relationship Issue
Includes management
1.Issue Management- To fix Customer problems
2.Customer call management- To handle incoming or
outgoing calls
Service label Customer call
3.Service label management-To monitor quality of management management
service

Chpt no.7, Author:Aniket Ahire

 ANALYTICAL CRM
Helps top management to determine a better way to serve the
customers
Main function DATA ANALYSIS
Feature- Gathers customer information from various channels to
analyse data in structured way
It analyses data coming from various touchpoints to get data insights
about current status of an organization
Helps top management to take better decisions
Customer Life Cycle(CLC) Perspective

Chpt no.7, Author:Aniket Ahire

 COLLABORATIVE CRM
Enables an organization to share
customer information among various Sales team
business units such as sales team,
marketing team, technical & support
team
Unites all groups to aim only one goal,
use all information to improve the quality Organization
of customer service and acquire new
customers to increase sales and loyalty Marketing Support
team team

Chpt no.7, Author:Aniket Ahire

Significance Of CRM

Customer satisfaction

Client management

Profitability Tracking

Author- Rishikesh Zade (16240)

Continued
Regulatory Compliance

Sales Strategy

Customer Service Improvement

Author- Rishikesh Zade (16240)

CRITICAL SUCCESS FACTORS OF CRM
Critical Success Factor: It is a management term for an element that
is necessary for an organization or project to achieve its mission.

Factors:
1. Executive sponsorship: CRM should be implemented in support of
the business goals, aims and strategy. The executive team should
actively involved in driving CRM as a strategic tool to help achieve
these objectives.
2. Implementation approach: Avoid the Big Bang approach by
prioritising and planning phases.
Be sure to consider the complete life cycle, from inception through
to on-going support and evolution of the system.
3. The data factor: Data is the life blood of CRM system. The Quality
of the DATA relates directly to the health of the system.
If you consider data as if it were a machine, you would then
consider its selection, installation, on-going maintenance, etc. more
carefully.

4. The Right Partner: Find the person or partner that matches your
ideals and personality.
can you work with them? This should be someone that will bring
value to you project

5. The Right Technology: The best technology alone will not

guarantee a successful CRM project.
The above foundational items need to be in place
Emergence of CRM practice
CRM is the downstream side of the supply chain network. Earlier the
approach was Product Centric but now at this stage it should be
more Customer Centric
Customers are not concerned about how a firm operates internally to
give them what they want. All customers know is that they want
excellent product or service and want it on the promised date.
As several researches have found out retaining customers is less
expensive and more sustainable competitive advantage than
acquiring new ones.
To practice TQM effectively, there should be partnering relations with
suppliers and customers.
 Limitation of ERP Solutions: Though ERP is a very versatile tool which
very successfully integrates the internal process users by making
every internal supply chain strong ,there are difficulties in extending it
to the downstream end of a supply chain to the customers.
Firms opting for direct selling: Some firms opt for direct selling to the
customer and intentionally eliminate the distributor and retailer to
increase their responsiveness .
Mass Customization: Changes can be done as per customer's choice
within few minutes. The customer realizes that companies are
focusing on mass customization.
Advances in information technology, networking and manufacturing
technology have helped companies to quickly match competition. As
a result product quality and cost are no longer significant competitive
advantages.