MBA in Pharmaceutical Industry Management INFORMATION TECHNOLOGY

Customer Relationship Management

Presented by: ALEEZA R. BISWAL ROLL NO: MBA-PH-09021 MBA-PH-

Customer relationship management (CRM) is basically the CRM) function of building a long standing relationship with a customer. Goals are to improve services provided to customers, and to use customer contact information for targeted marketing.

Tools for CRM should be implemented "only after a well-devised strategy and welloperational plan are put in place". 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.

CRM includes many aspects which related directly to one another:  Front office operations  Back office operations  Business relationships  Analysis

Types/variations in CRM


There are several different approaches to CRM, with different software packages focusing on different aspects. In general, Customer Service, Service, Campaign Management and Sales Force Automation (SFA) form the core of the system.

Operational CRM


   

Operational CRM processes customer data for a variety of purposes: Managing campaigns Enterprise Marketing Automation Sales Force Automation Sales Management System

Analytical CRM


Analytical CRM analyzes customer data for a variety of purposes: Designing and executing targeted marketing campaigns Designing and executing campaigns, e.g. customer acquisition, cross-selling, up-selling, cross-selling, up-selling, addonaddon-selling Analyzing customer behavior in order to make decisions relating to products and services (e.g. pricing, pricing, product development) development) Management information system (e.g. financial forecasting and customer profitability analysis)

Sales Intelligence CRM



    

Sales Intelligence CRM is similar to Analytical CRM, but is intended as a more direct sales tool. Features include alerts sent to sales staff regarding: Cross-selling/Up-selling/SwitchCross-selling/Up-selling/Switch-selling opportunities Customer drift Sales performance Customer trends Customer margins Customer alignment

Campaign Management
 

Campaign management functions include: Target groups formed from the client base according to selected criteria Sending campaign-related material (e.g. campaignon special offers) to selected recipients using various channels (e.g. e-mail, etelephone, SMS, post) Tracking, storing, and analyzing campaign statistics, including tracking responses and analyzing trends

Collaborative CRM


Collaborative CRM covers aspects of a company's dealings with customers that are handled by various departments within a company, such as sales, technical support and marketing. For example, feedback received by customer support agents can provide other staff members with information on the services and features requested by customers.

Consumer Relationship CRM



Consumer Relationship System (CRS) covers aspects of a company's dealing with customers handled by the Consumer Affairs and Customer Relations contact centers within a company.

Simple CRM


Simple CRM systems breakdown the traditional CRM system to focus on the core values managing contacts and activities with customers and prospects.

Social CRM


Some of the first features added are social network monitoring feeds (i.e. Twitter timeline), typically built into the system dashboard. Other emerging capabilities include messaging, sentiment analysis, and other analytics. They must be monitored for real-time realmarketplace feedback and trends.

Strategy


Information gained through CRM initiatives can support the development of marketing strategy by developing the organization's knowledge in areas such as identifying customer segments, improving retention, customer retention, improving product offerings (by better understanding customer needs), and by identifying the organization's most profitable customers.

Implementation Issues


Many CRM project "failures" are also related to data quality and availability. availability. Data cleaning is a major issue. Data from other systems can be transferred to CRM systems using appropriate interfaces. An effective tool for identifying technical and human factors before beginning a CRM project is a pre-implementation prechecklist. A checklist can help ensure any potential problems are identified early in the process.

Privacy and data security system



One of the primary functions of CRM software is to collect information about customers. When gathering data as part of a CRM solution, a company must consider the desire for customer privacy and data security, security, as well as the legislative and cultural norms.

A 2007 Datamonitor report lists Oracle (including Siebel) and SAP as the top CRM vendors, with Chordiant, Infor, and SalesForce.com as significant, smaller vendors.

REFERENCES


http://en.wikipedia.org