CRM

Customer Relationship Manager (CRM): 

Customer Relationship Manager (CRM) Customer Relationship Management Submitted By:- Nashima Khatun-10048 Vishal Tripathi-10113 Bhaskar Chandra-10021 Swapnil - 10102

What is CRM?: 

What is CRM? Customer Relationship Management (CRM) is a strategy that focuses on building strong relationships with customers and potential customers for creating and maintaining a loyal customer base. CRM works across all departments to harmonize customer-centric thinking. It reduces costs, increases efficiency and improves customer satisfaction. “A holistic process of identifying, attracting, differentiating, and retaining customers” CRM is basically for developing long lasting relationship with a customer.

PowerPoint Presentation: 

It typically costs 5-10 times as much to acquire a new customer as it does to retain an existing one. It also consists of the processes a company uses to track and organize its contacts with its current and prospective customers.

CRM Objectives: 

CRM Objectives To simplify marketing and sales process Increasing sales effectiveness- Access to customer information- Reduce Customer Support Time Increase in Customer Service Increasing Efficiency Lowering Operating Costs

Types of CRM: 

Types of CRM Basically there are three types of CRM which are as follows:- Operational CRM: support to front office Analytical CRM: analyze customer data Collaborative CRM: inter staff coordination

PowerPoint Presentation: 

Operational CRM:- It means supporting the "front office" business processes, which include customer contact (sales, marketing and service). Tasks resulting from these processes are forwarded to employees responsible for them, as well as the information necessary for carrying out the tasks and interfaces to back-end applications are being provided and activities with customers are being documented for further reference. Analytical customer relationship management:- It is a key aspect of a CRM business model, which is an enterprise-wide approach used to optimize your customer's experience and improve marketing efficiency. Databases are used to gather quantifiable data, and the ability to analyze and use this data to improve customer relationships is a driving force behind CRM adoption.

PowerPoint Presentation: 

Collaborative CRM :-It is an approach to customer relationship management in which the various departments of a company, such as sales, technical support, and marketing, share any information they collect from interactions with customers. For example, customer feedback gathered from a technical support session could inform marketing staff about products and services that might be of interest to the customer. The purpose of collaboration is to improve the quality of customer service, and, as a result, increase customer satisfaction and loyalty.

Strategies of CRM: 

Strategies of CRM Customer retention Customer acquisition Customer loyalty Cost reduction Improve productivity Enhancing e-business strategies

PowerPoint Presentation: 

Stages in the Development of a Key-Account Relationship Degree of involvement High Low Nature of customer relationship Transactional Collaborative Pre-KAM Early-KAM Mid-KAM Partnership Synergistic KAM

Benefits of CRM: 

Benefits of CRM (a)Provide better customer service (b)Cross sell products more effectively (c)Help sales staff close deals faster (d)Simplify marketing and sales processes (e)Increase customer revenues (f)Reduced costs, because the right things are being done (g)Growth in numbers of customers (h)Maximisation of opportunities

Function Of CRM: 

Function Of CRM Direct functions (are the basic requirements of a company that are necessary to survive in the competitive marketplace) Profit Volume Safeguard Indirect functions (are the actions necessary to convince the customer to participate in various marketing activities). Innovation Market Scout Access.