A presentation on customer relationship management , making it easy for you to understand what 'CRM' actually is! this presentation is a part of my course titled
'E-business management' . special thanks to my team mates ammara ahmad , tanvi chaturvedi,and lekshmi jagan for helping me out with this amazing presentation.
2. What is CRM?
• Combination of integrated
sales, marketing and service strategies
• Involves a consistent, dependable and
convenient interaction with customers on a
regular basis.
Sales Support
Marketing
CRM
3. Three Phases of CRM
1. Acquiring New Customers
2. Enhancing Existing Relationships
3. Retaining Customers Relationship
4. 1. Acquiring
• Good planning is required to accomplish
the strategies.
• Promoting the product & service.
• Innovation & convenience.
• Immediate response to the customer
5. 2. Enhancing
• Customer satisfaction by effective
resolution of issues & concerns
• Cross-selling & Up-selling
• Giving importance to customer
suggestions
6. 3. Retaining
• Complete understanding of the needs of the
customers
• Most of the companies focus on maintaining their
relation with their existing customers rather than
acquiring new customers.
7. CRM Marketing Initiatives
1. Cross selling
The act of selling a product or service to customer
as a result of another product or service.
11. • Increases revenue
• Help in enhancing the service
• Retain customers
• Attract new customers
• Stay competitive in the market
12. 2. Up Selling
Sales technique where a seller introduces the
customer to purchase more expensive
items, upgrades or other add ons in an attempt
to make a profitable sale.
15. • Exposing customers to better options, Customer
satisfaction
• Marketing of profitable services and products
• Increase in profits
• Increase in sales
18. FIVE IMPORTANT STEPS
1.Designing a strategy before
implementing your CRM software
2.A CRM-strategy has to be aligned to
the mission and purpose of the
organization .
3.CRM-strategies must acquire
support by their senior executives
to succeed.
19. 4.The key people from your
organization, who will be using the
CRM-system, should support fully
understand how CRM works.
5.Choose your CRM-software wisely.
21. Quantifiable metrics
CRM can result in revenue or cost
savings via the following
quantifiable metrics
1. More efficient customer –focused
business processes.
2. Decreased customer attrition
3. Increased sales .
22. Company Case
Mr.Maz sign up for Business Banking Online of
Barclays bank
He spent some 10 minutes completing the
application form looking forward to getting his bank
account set up there and then
23. The Reality ,Completely Different !!!
Disappointment 1:
In the world of Barclays “online sign up”
actually means “offline sign up”!
Disappointment 2:
Why are Barclays wasting my time?
Disappointment 3:
Confirms that the bank is badly broken if
viewed through the Customer Experience
lens
24. Viral Marketing
• If one individual is dissatisfied, odds are
he’ll tell a collection of other individuals
• The average unhappy customer tells eight
other potential customers about his
negative experience
• What customers say is actually more
important than what companies say about
themselves
25. • In an age where every action a company
takes can be instantly exposed across the
Web, consumer trust is more important
than ever.
• Extreme trust proactively protects
customers' interests.
• For eg, if you order a book from
Amazon, they'll remind you that you
already bought it. ITunes does that as well.
26. What Exactly is CRM
• The infrastructure that enables
• Delineation of & increase in customer value
• By correct means
• To motivate valuable customers
• To remain loyal-indeed ,to buy again
27. Goal of CRM
To recognize and treat each customers as
Individual
Change a customer’s relationship with a
company
Increase revenues in bargain
28. Companies should ask,
How can we use these CRM technologies to do a
better job and provide a more appropriate or
relevant product, and save our customers time and
energy?