Saturday, 12 September 2015

Chapter 11: Building a Customer-centric Organization-Customer Relationship Management

Chapter 11: Building a Customer-centric Organization-Customer Relationship Management

  • CRM will allow an organization to:
  1. Provide better customer service
  2. Make call centers more efficient
  3. Cross-sell products more effectively
  4. Help sales staff close deals faster
  5. Simplify marketing and sales processes
  6. Discover new customers
  7. Increase customer revenues
Recency,Frequency,and Monetary Value
  • an organization can find its most valuable customers by using a formula that industry insiders call RFM- recency,frequency,and monetary value.
  1. How recently a customer purchased items(recency)
  2. How frequency a customer purchases items(frequency)
  3. How much a customer spends on each purchase(monetary value)
The Evolution of CRM
  • CRM reporting technologies help organizations identify their customers across other applications.
  • CRM analysis technologies help organizations 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
11.1:Evolution of CRM

The Ugly Side of CRM: Why CRM Matters More Now Ever Before

11.2: Reporting,Analyzing,Predicting Examples

11.3: The Power of You- Websites Demonstrating the Power of an Individual

Customer Relationship Management's Explosive Growth

11.4: CRM Business Drivers

Using Analytical CRM to Enhance Decisions
  • 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.
  • Personalization occurs when a website can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person.
11.5 : Operational CRM and  Analytical CRM

Customer Relationship Management Success Factors

11.6: CRM Implementation Strategies

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