This chapter provides the basics of Electronic Customer Relationship Management and gives a clear idea about the e-CRM. It also gives the knowledge of changing perspective of the e-CRM practices
2. If you make customer unhappy in the
physical world, they might each tell 6
friends.
If you make customer unhappy on the
internet they can each tell 6,000 friends.
- JEFF BEZOZ
3. Learning Objectives:
Learn the concept of e-CRM and its relevance to
service industry.
Know the various advantages of e-CRM
Understand the different e-CRM Technologies
Develop diverse e-CRM softwares
Learn formats of e-CRM applications
6. e-CRM: Definition
The eCRM or electronic customer relationship
management coined by Oscar Gomes
encompasses all standard CRM functions with the
use of the net environment i.e., intranet, extranet and
internet. Electronic CRM concerns all forms of
managing relationships with customers through the
use of information technology (IT).
eCRM processes include data collection, data
aggregation, and customer interaction. Compared to
traditional CRM, the integrated information for eCRM
intraorganizational collaboration can be more
efficient to communicate with customers.
7. FEATURES OF e-CRM
It is driven by a data warehouse which maintained by
the organizations during purchases.
It focuses on reaching out to the customers across
multiple channels.
It enables a company to accommodate new market
dynamics that place the customer in control.
It is structured to identify a customer’s profitability or
profit potential, and to determine effective investment
allocation decisions accordingly, so that the most
profitable customers could be identified and the
resources could be invested in relationships, which
are most profitable
8. Advantages of e-CRM
1. Lowers the cost
2. Adaptability to new
technology
3. Availability
4. Integration with the
system
5. Helps data
construction
6. Increased customer
interaction
7. Maneuverability
8. Managing data
reservoir
9. Lesser response time
10. Lower marginal cost
11. New customer service
opportunities
12. Reach and service
personalization
13. Automatic self
documentation
14. User control