Module 1- CRM

8/4/2019 Module 1- CRM

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Customer RelationshipManagement


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Introduction to CRM

Customer relationship management (CRM) is a term applied toprocesses implemented by a company to handle their contactwith their customers.

CRM software is used to support these processes, storinginformation about customers and prospective customers.

Information in the system can be accessed and entered byemployees in different departments, such as sales, marketing,customer service, training, professional development,performance management, human resource development, andcompensation.


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Introduction to CRM

The rationale behind this approach is to improve services

provided directly to customers and to use the information in the

system for target marketing and sales purposes.

While the term is generally used to refer to a software-based

approach to handling customer relationships, most CRM

software vendors stress that a successful CRM strategy requires

a holistic approachIt is a personal and emotional bondbetween people .


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Define CRM

CRM is The development and maintenance of mutually

beneficial long-term relationships with strategically significantcustomers.

CRM is An IT enhanced value process, which identifies,

develops, integrates and focuses the various competencies of thefirm to the voice of the customer in order to deliver long-termsuperior customer value, at a profit to well identified existingand potential customers.

CRM is an information industry term for methodologies,software, and usually Internet capabilities that help an enterprisemanage customer relationships in an organized and efficientmanner.


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Functions of CRM

Direct functions are basic requirements of a company

that are necessary to survive in the competitive

marketplace such as Profit, Volume and Safeguard

Indirect functions are actions necessary to convince

the customer to participate in various marketing

activities such as Innovation, Market, Scout & Access.


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Features of CRM CRM is a new business philosophy based on trust and value

The core function of CRM is the value creation process

The role of global salespeople in the process is that of both

relationship builders and relationship promoters

The basic premise of CRM is to offer superior value to

customers in an effort to turn prospects into customers,

customers into loyal customers, and loyal customers into

customer advocates and customer advocates into partners.

CRM is an organisational process which includes people,

infrastructure, performance measure, organisational alignment to

the environment and the new strategic patterns.


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CRM is a business strategy that an organization performs

to identify, select, acquire, develop, retain, and better

serve customers

A CRM strategy attempts to optimize a firms profitability,revenue and customer satisfaction by focusing on a

customer centric process.

Customer Relationships develops over time


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CRM Success Factors

Strong internal partnerships around the CRMstrategy. Employees at all levels and all areas accurately

collect information for the CRM system. CRM tools must be Customer and Employee friendly

Result oriented Action Plans Report out only the data you use and use the data

you report. Realization of Customer needs and wants.

Satisfy existing and focus on new segments. To build customer focused operating environment

and culture Continuous Up gradation of competencies to

provide enhanced benefits and satisfaction to

customers .


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GOALS OF CRM

Provide better customer service

Ensure high levels of satisfaction

Cross sell & Up sell products more effectively

Helps sales staff Simplifies marketing and sales processes

Discover new customers and new customer needs

Increase customer revenue

Focuses on new markets and Client segments Action Plans to make Organization Customer -

centric


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The Value of CRM

Gain more control in interaction with customers

Manage expectations better Understand what customers really want

Provide products that better serve customers Look to serve new and present segments Increase trust and value of product Competitive advantage

Mutual Benefit is the best approach WOW!!!! The guest occasionally at least Benchmarking to achieve global excellence .


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Facets of CRM

Customer Needs

Customer Response and Influence

Customer Satisfaction Customer Loyalty

Reclaiming Lost Customer

Customer Complaint Customer Service


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A Working Definition

The Plan and Practice of managing the

lifetime relationship with your customer.

The Plan: Every successful endeavorrequires proper planning. Successful CRMrarely happens by chance. Many

organizations jump to implementation w/oproper planning.


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A Working Definition

The Plan and Practice of managing the

lifetime relationship with your customer.

The Practice: Systematic implementationof your plans. Should produce measurableresults. Should be evaluated and refinedover time.


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Managing Customer RelationshipsThe global salesperson must be involved in the following activities

in order to initiate, develop and enhance the process that is aimed atbuilding trust and commitment with the customer.

Initiating the relationship

Engage in strategic prospecting and qualifying;

Gather and study pre-call information;

Identify buying influences;

Plan the initial sales call;

Demonstrate an understanding of the customers needs;

Identify opportunities to build a relationship; and

Illustrate the value of a relationship with the customer


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The global salesperson must be involved in the following activities

in order to initiate, develop and enhance the process that is aimed at

building trust and commitment with the customer.

Developing the relationship

Select an appropriate offering;

Customise the relationship;

Link the solutions with the customers needs;

Discuss customer concerns;Summarize the solution to confirm benefits; and

Secure commitment.

Managing Customer Relationships


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Managing Customer Relationships The global salesperson must be involved in the following

activities in order to initiate, develop and enhance the processthat is aimed at building trust and commitment with thecustomer.

Enhancing the relationship

New ways of customer satisfaction

Offer new products and latest technologies

New systems to realize customer needs and wants

Enhance self competencies Record complaints and suggestions

Track customer and do the needed updates

Ethical Code of Conduct


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Role of Sales PeopleThe role of salespeople as relationship builders and promoters are as

follows: -

Identifying potential customers and their needs;Approaching key decision makers in the buying firm;

Negotiating and advancing dialogue and mutual trust;

Coordinating the cooperation between the customers and

their company;Encouraging the inter-organisational learning process;

Contributing to constructive resolution of existing conflicts;

Co-ordination with the customer relationship development

team

Also sales people are the individuals in any organisation who act

both as Relationship Builders and as Relationship Promoters.

Documents

Module 1- CRM