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Business Plug-in B9

Business Plug-in B9. CUSTOMER RELATIONSHIP MANAGEMENT. BUSINESS BENEFITS OF CRM. CRM enables an organization to: Provide better customer service Make _____ centers more efficient Cross sell products more effectively Help sales staff close deals faster Simplify marketing and sales processes

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Business Plug-in B9

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  1. Business Plug-in B9 CUSTOMER RELATIONSHIP MANAGEMENT

  2. BUSINESS BENEFITS OF CRM • CRM enables an organization to: • Provide better customer service • Make _____ centers more efficient • Cross sell products more effectively • Help sales staff close deals faster • Simplify marketing and sales processes • Discover new __________ • Increase customer revenues

  3. CRM BASICS • Organizations can find their most valuable customers through “RFM”: • How recently a customer purchased items (Recency) • How frequently a customer purchased items (___________) • How much a customer spends on each purchase (Monetary Value)

  4. The Evolution of CRM • CRM reporting technology – help organizations identify their customers across other applications • CRM __________ 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

  5. The Evolution of CRM • Three phases in the evolution of CRM include reporting, analyzing, and predicting

  6. The Evolution of CRM

  7. Operational and Analytical CRM • Operational CRM – supports traditional transactional processing for day-to-day ______-office operations or systems that deal directly with the customers • Analytical CRM – supports ______-office operations and strategic analysis and includes all systems that do not deal directly with the customers

  8. Operational and Analytical CRM

  9. Using IT to Drive Operational CRM

  10. Marketing and Operational CRM • Three marketing operational CRM technologies: • List generator – compiles customer information from a variety of sources and segment the information for different marketing campaigns • Campaign management system – guides users through marketing campaigns • Cross-selling and up-selling • Cross-selling – selling additional products or services • Up-selling – increasing the value of the sale

  11. Sales and Operational CRM • The sales department was the first to begin developing CRM systems with sales force ____________ – a system that automatically tracks all of the steps in the sales process

  12. Sales and Operational CRM • Sales and operational CRM technologies • Sales management CRM system – automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts • Contact management CRM system – maintains customer contact information and identifies __________ customers for future sales • Opportunity management CRM system – targets sales opportunities by finding _____ customers or companies for future sales

  13. Customer Service and Operational CRM • Three customer service operational CRM technologies: • Contact center (call center) • Web-based self-service system • Click-to-talk • Call scripting system • Access DB to automatically generate details for the CSR

  14. Customer Service and Operational CRM

  15. USING IT TO DRIVE ANALYTICAL CRM • Personalization – when a Web site knows enough about a persons likes and dislikes that it can fashion offers that are more likely to appeal to that person • Analytical CRM relies heavily on data ____________ technologies and business intelligence to glean insights into customer behavior • These systems quickly aggregate, analyze, and disseminate customer information throughout an organization

  16. CURRENT TRENDS: SRM, PRM, AND ERM • Supplier relationship management (SRM)– focuses on keeping suppliers satisfied by evaluating and __________ suppliers for different projects • Partner relationship management (PRM) – focuses on keeping _______ satisfied by managing alliance partner and reseller relationships • Employee relationship management (ERM) – provides employees (as customers) with a subset of CRM applications available through a ____________

  17. FUTURE CRM TRENDS • CRM applications will change from employee-only tools to tools used by suppliers, partners, and even ____________ • CRM will continue to be a major ________ focus for companies • CRM applications will continue to adapt ________ capabilities supporting mobile sales and mobile customers • CRM suites will incorporate PRM and SRM modules

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