•
CRM
enables an organization to:
– Provide better customer service
– Make call centers more efficient
– Cross sell products more effectively
– Help sales staff close deals faster
– Simplify marketing and sales processes
– Discover new customers
– Increase customer revenues
•
Organizations
can find their most valuable customers through “RFM” - Recency, Frequency,
and Monetary value
– How recently a customer purchased items
(Recency)
– How frequently a customer purchased items
(Frequency)
– How much a customer spends on each purchase
(Monetary Value)
EVOLUTION OF CRM
•
CRM reporting technology – help organizations identify their
customers across other applications
•
CRM analysis technologies – help organization segment their
customers into categories such as best and worst customers
•
CRM predicting technologies – help organizations make predictions
regarding customer behavior such as which customers are at risk of leaving
•
Operational CRM – supports traditional transactional
processing for day-to-day front-office operations or systems that deal directly
with the customers
•
Analytical CRM – supports back-office operations and
strategic analysis and includes all systems that do not deal directly with the
customers
CRM SUCCESS FACTORS
•
CRM
success factors include:
1. Clearly
communicate the CRM strategy
– ensuring that all
departments and employees understand
2.Define information
needs and flows
– the organization
must understand all of the different ways that information flows
3. Build an
integrated view of the customer
– the CRM system must
support the organization's strategies and goals
- Implement in iterations
- Scalability for organizational growth
3. Implement in iterations
– avoid the
big-bang approach and implement in small, manageable, pieces
4. Scalability for organizational growth
– ensure the
system can support the organization's future growth
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