crm latest
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UNDERSTANDING SUCCESS AND
FAILURE IN CUSTOMERRELATIONSHIP MANAGEMENT
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CRM : Customer Relationship
Management
Approach based on maintaining positive
relationships with customers, increasing customer
loyalty, and expanding customer lifetime value.
Understanding the needs of customers and offering
value-added services are recognized as factors
that determine the success or failure of companies.
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CRM : Customer Relationship
Management
Approach based on maintaining positive
relationships with customers, increasing customer
loyalty, and expanding customer lifetime value.
Understanding the needs of customers and offering
value-added services are recognized as factors
that determine the success or failure of companies.
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Chaffeys 3-stage model of CRM
First acquire customers via clear communication of a
powerful value proposition.
Second retained via good service.
Third, the relationship extended via the delivery of
tailored products/services to clearly defined
customer segments.
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Top Ten ERP CSFs by Somers & Nelson 2001
ERP CSF Mean Score (out of 5)
Top Management Support 4.29
Project Team Competence 4.20
Interdepartmental Cooperation 4.19
Clear Goals & Objectives 4.15
Project Management 4.13
Interdepartmental Communication 4.09
Management of Expectations 4.06
Project Champion 4.03Vendor Support 4.03
Careful Package Selection 3.89
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Top Ten CRM CSFs by Sauers Model
CRM CSF
Top Management Support
Communication of CRM Strategy
Knowledge Management Capabilities
Willingness to Share Data
Willingness to Change Processes
Technological Readiness
Culture Change/Customer Orientation
Process Change CapabilitySystems Integration Capability
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A conceptual model of CRM innovation
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CRM Benefits
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Conceptual Model: Simulation
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3 Major Dynamic Processes
The CRM project is being undertaken by the project team and userrepresentatives.
As the CRM modules, such as marketing campaign management,
sales force automation and helpdesk support, gradually go livethey begin to be used by the users (the roll out) this can beviewed from the standpoint of diffusion or technology transfer of theCRM innovation across the organization.
Both processes are, to an extent, controlled by the supporterswho
monitor progress and adjust their support according to their ownagendas, previous histories and perceptions of the benefits (ordrawbacks) flowing from the new systems and business processes.
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Model Limitations
Project costs are simply a function of the number of
staff employed on the project, and take no account
of software license fees, hardware or training costs
for example.
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Approaches to CRM
There are several different approaches to CRM,
with different software packages focusing on
different aspects:
Operational CRM
Analytical CRM
Collaborative CRM
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Operational CRM
Gives support to Front Office business process
(e.g. sales, marketing etc).
Any interaction with customers is stored in customers
contact histories, which the staff can retrieve as
necessary.
Gives staff access to important information about
the customer, eliminating need for individuallyobtaining it from the customer.
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Analytical CRM
Analytical CRM analyzes customer data for a variety ofpurposes:
Designing and executing targeted marketing campaigns.
Analysing customer behavior in order to make decisionsrelating to products and services (e.g. pricing, productdevelopment).
Management information system (e.g. financial forecastingand customer profitability analysis).
Analytical CRM generally makes heavy use of data mining.
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Collaborative CRM
Helps unify information that is collected through
various departments interaction with customers.
Goal is to use information collected by all
departments to reduce costs and improve the
quality of services provided by the company.
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Stages In CRM
Stage 1 - Collecting information
Stage 2 - Storing information
Stage 3 - Accessing information Stage 4 - Analyzing customer behavior
Stage 5 - Marketing more effectively
Stage 6 - Enhancing the customer experience
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Tata Motors and CRM
Tata Motors was looking for real-time availability of customer and product datafrom its entire dealer network, faster response to customer requests, increasedproductivity and revenue generation, and a system that would give it a 360-degreeview of customers across all possible touch points.
The solution jointly deployed by Oracle, SAP and IBM had been implemented inphases since 2003.
The on-line CRM initiative now supports over 15,000 users, within the company andamong its channel partners in India and abroad, to conduct all customer-facingtransactions.
Besides achieving the above objectives, the CRM package also helped inleveraging data to improve customer interactions and streamline productdevelopment and planning, which has helped Tata motors provide additional value-added services to customers.