Building a
Customer-Centric Organization –
Customer Relationship Management
CRM enables an
organization to:
- Provide better customer service
- Make call centres more efficiently
- Cross sell products more effectively
- Help sales staff close deals faster
- Simplify marketing and sales processes
- Discover new customers
- Increase customer revenues
RFM Value (Recency, Frequency, Monetary)
Recency –
How recently a customer purchased items
Frequency –
How frequently a customer purchased items
Monetary –
How much a customer spends on each purchased
Evolution of CRM
CRM reporting
technology
Help company
identify their customer across other applications.
CRM analysis
technologies
Help company
segment customer into categories (best/worst).
CRM predicting
technologies
Help company
make prediction s regarding customer behaviour (customer-risk of leaving).
Using Analytical CRM to Echance Decisions
Operational CRM
– supports traditional transaction processing for day to day, front-office
operation or systems that directly with customer
Analytical CRM –
support back-office operations and strategic analysis and includes all systems
that do not deal directly with customer
Key Success Factor of CRM
- Clearly communicate the CRM strategic
- Define information needs and flows
- Build an integrated view of the customer (achieve goal, support customer)
- Implement in iterations
- Scalability for company growth
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