3. CRM is a management approach a model that puts a customer at the core of a company processes and practices.
4.
5. CRM Components CRM’s can be broken down into three key components. Front Office Operations (sales, marketing, service etc) Interaction With Customers (email, letters, phone, meetings, fax etc) Enhance Company Relationship with Customer
17. loyaltyProcess Alignment Monitoring Process Communication Employee Motivation Partners -Criteria -Process Employee Training Evolution -Enhancement -Improvement
18. Service Quality Model Past Experience Word - of- Mouth Communications Personal Needs Expected Service Perceived Service Service Delivery Customer External Communications to Customers Service Provider Service quality specifications Management perceptions of Customer Expectations
19. Service Quality Gaps Gap 1 : Not knowing what customers expect Gap 2 : Not selecting the right service design standards Gap 3 : Not delivering to Service Standards Gap 4 : Not matching Performance to Promises Gap 5 : Perceived Service and Expected Service
20. Gap Analysis Grid SATISFACTION Low High IMPORTANCE Current company strength Unnecessary strengths - possible over skill Attributes that need attention - area where priorities should be focused Low Priority High Low
21. The Key Stages of CRM Culture State Stage Satisfaction Based Re-active Meet customer needs Respond to complaints Minimal evaluation of customer service levels Performance Based Pro-Active Evaluate customer perception Identify customer retention factors Very Pro-Active Commitment Based Evaluate multiple customer needs Continuous inbound/outbound flow and feedback Continuous improvement
36. Categorizing Customers *You have no choice but to handle them very carefully. Will consume energy. #Think of innovate ways of getting them on your side, but the cost of acquisition must be controlled *Cultivate relationship. Spend energy Go out of your way # Think of strategies to move them away from competition Will consume disproportionately high energy High * Focus on short term profitability Spend minimum energy to meet your objectives # Don’t pursue Use opportunity as it comes Short term acquisition should not affect Long term image Strategic Importance to your business Plan * Very cautious decision needed Re-examine business plan & strategy. Evaluate that your loss does not become nightmare for you # Needs in-depth strategic review as acquisition alone and dissatisfaction later could be more harmful Low Low High Profitability Potential * Existing Customer# Potential Customers
37. Economics Of Customer Retention “Winning back a lost customer can cost up to 50-100 times as much as keeping a current one satisfied.” Rob Yanker, Partner, McKinsey & Company Understanding your customer is key to retention…..
38. Determinants Of Customer Added Value Image Value Product Value Services Value Total customer value Customer delivered value Monetary Price Time cost Energy cost Psychic cost Total customer cost
![What is CRM? ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)