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Group-II

FMG-23A
FORE School Of Management

Introduction
Customer Relationship Management (CRM) is a system

for managing a companys interaction with current and


future customers. It involves using technology to
organise, automate and synchronize Sales, Marketing,
Customer Service and Technical Support.

While the phrase customer relationship management is

most commonly used to describe a business-customer


relationship, CRM systems are also used to manage
business contacts, clients, contract wins etc.

Characteristics
CRM (Customer Relationship Management) typically include the
following characteristics:
Relationship Management Its a customer oriented feature
with responses based on customer input, direct online
communication with customer etc.
Sales Force Automation It implement sales promotion

analysis, automate tracking of a clients account for repeated


sales or future sales.
Opportunity Management It helps the company to manage
unpredictable growth and demand and implement a good
forecasting model to integrate sales history with sales
projections.

Core Areas Impacted By CRM


Marketing: It helps to identify and target potential customers with
offers from the organization.
Sales: It defines and streamlines all aspects of the selling cycle within
the organization, and minimizes the time that sales people need to

spend on each phase. It not only track and record every stage in the
selling cycle, but also provide you with insights into business
opportunities, selling territories, revenue forecasts etc.

Customer Service and Support: using the native tools embedded

within most CRM solutions, individuals within the organization can


create, assign, and manage customer requests. These are used to
identify, address, and quickly resolve any issues that customers might
be experiencing with your products and/or services.

Benefits of CRM
Decrease cost of customer acquisition. It enables companies to
correctly identify their target audience and to focus all of the
marketing efforts on that particular group of people.
Increase sales. Analyzes current customer service practices and can
be used to pinpoint shortcomings and areas that need improvement.

Increase efficiencies. Employees can access important information


quickly and process and can be automated.
Better and more accurate data. Analytics and reporting allows the
sales, marketing and customer service teams to work together and
introduce improvements.

Data security. Not only does a CRM manage data but it allows us to
control who has access to certain data and features.

How and Why Organizations are using CRM


The CRM Strategy
Customer relationship management is often thought of as a business strategy that enables
businesses to improve in a number of areas.
1. Understand the customer
2. Retain customers through better customer experience
3. Attract new customers
4. Win new clients and contracts
5. Increase profitably
6. Decrease customer management costs

Taking example of B2B market Due to customer relationship, a network can be established and extended. Extension
causes the network not to increase benefits linearly, but in an exponential way. Hence,
these networks can be used to increase the amount of available information for each
company. This may lead to more information about a customer which can be used to
make the way of handling the customer easier in the future. The history of previous sales
from this customer may be a great relief.
This encourages companies to join the B2B network by using CRM.

Based on requirements different CRM Softwares


are SaaS CRM software- Businesses using the software do not purchase the
software, and typically pay a subscription fee to the software vendor.
Workbooks CRM- specifically designed for small and mid-size
organizations and are delivered via Software-as-a-Service(no need of
installation & support).

Salesforce- allows the company to automatically track all the web activity
generated from marketing.
BPMonline CRM- to improve campaign response, close deals, and satisfy
customers.
AmoCRM- AmoCRM's software assists the manager, sales team and sales

management with sales pipeline reporting and analysis.


Firmao CRM- Firmao features include mobile applications and cloud data
storage space. Users can create own templates of documents such as invoice,
offer as well as custom data report.

List of top vendors in 20062008 and 2013 (figures in millions of


US dollars) published in Gartner studies

CRM market grew by 13.7 percent in 2013, three times the average of all enterprise
software categories.

CRM in IndiaCRM market in India is extremely nascent with a total market size of USD 1618 million.
The CRM enabled companies in India includes Tata Telecom, TVS
Electronics, HP India, Tata Infotech, Tata Teleservices and Planet M among
many others.
Other service sectors like Banking (ICICI Bank) and Insurance are also
deploying CRM solutions.
Though Tier-I cities has a significant share, Tier-II cities are now emerging as
the destinations for CRM providers to sell CRM solutions.

Application of CRM- Indian perspective


(ICICI BANK)
CRM Approach1.) Stores all personalized information of customers in centralized Database.
2.)Sales trends.
3.)Marketing trends.
4.)Implemented solution from Siebel for automation of customer handling.
5.)Track all customer requests and complaints.

End Result1.)Customer centric approach of ICICI Bank helped it to gain number 2 position in
India for banking service.
2.)Implemented CRM not as a tool but strategy for competitive advantage.

Application of CRM- An International perspective-

Key Issue- CCE discovered its field sales representatives were spending too much
time on administrative tasks rather than spending time with the customers and
selling their products.
Action Taken-CCE implemented Salesforce across multiple geographies and
multiple business functions; from the call center agent to the service technician and
the sales representative.
Result-They reduced the time it takes to on-board a new customer by around 60%
and decreased the administration overhead for service technicians by almost 50%,
which means they can respond to more customer requests in the same timeframe.

Importance of CRM to the B2B sector


Extension causes the network not to increase benefits

linearly, but in an exponential way.


systems integration, hosting, financial services such as

payment processing, receivables management, credit


analysis and logistics services.
As B2B customers are generally more rational

customers than B2Cs, a person or a team with special


knowledge to each customer or industry may enhance
the sales in this area.

Increasing Trend
CR philosophy and strategy has shifted to encompass

social networks and user communities.


Sales forces also play an important role in CRM.

Some Examples
Public utility would know exactly about the energy need of

their customers in advance for the next years and decades.


Mobile phone providers would know what services their
customers would want to buy, at what price.
A bus company would know exactly when the customer
would want to travel, where to, with how much luggage,
and how much money he is willing to spend.
A Supermarket would know which other products a
customer would need, how much he would want to pay

CRM Paradox
Favouritism and differential treatment of customers

may cause perceptions of unfairness.


This may cause dissatisfaction, issues of distrust and

unfair practices due to the perceived inequality.


A good example: Amazon.coms test use of dynamic

pricing.

QnA

Thanks !!