Customer Relationship Management System. o CRM introduction o Functioning targets and roles o Aspects of CRM o Architecture o Strategies o Pitfalls What.

Customer Relationship Management System

o CRM introductiono Functioning targets and roleso Aspects of CRMo Architectureo Strategieso Pitfalls

What I am going to discuss?

WHAT IS CRM?

The process of managing the detailed information about individual customers and carefully managing all the customers ‘touch point’ with the aim of maximizing customer loyalty.

People

Process

Technology

CRM

Customer acquisition

Value

Rela

tionsh

ip

Retention

Loyalt

y

Why CRM is required ?

Customer focus

Primary Concern of any businessRevenue generation

Satisfaction Delight Experience

Relationship building

High acquisition cost Low retention cost

Long term gains

Management

Product delivery Satisfaction

Measure and manage Customer profitability

Customer-centric

Other element-Communication component

Communication channel

Customer

Company

CUSTOMER INTERACTION

Mobile

Web

Call center

Fax

Email

Face to face

FUNCTIONING TARGETAND

ROLES

C R MFunctioning

targets

1. Relationship building2. Customer service and support3. Built loyalty in customers4. Personalization5. Management and quality related service.6. Customer-focused organization7. Identifying high value customers

Role of CRM system

Still, why to spend on Customer-retention rather than customer acquisition ???

Acquisition of Customer Retention of Customer

3% increase in profits 17% increase in profits

Cost is very high Cost is very low

Life cycle is short Life cycle is long

Short term profit Long term profit

Unpredictable value chain building

Value chain building

Acquisition or Retention

Any Questions?

Thank you