SUBMITTED BY :ANANT JAIN (1033) BBA SEM-IV

DEFINATION
Customer Relationship Management can be simply defined as everything involved with managing the customer relationship. Customer Relationship Management is about making every customer as valuable as possible over the lifetime of the relationship Customer Relationship Management is a ongoing, dynamic learning process for an organization

CONTD
PROCESS OF CRM INCLUDES TARGETING ACQUISITION RETENSION EXPANSION

Why CRM?
It costs six times more to sell to new customer than to sell to an existing one. A typical dissatisfied customer will tell 810 people By increasing the customer retention rate by 5%, profits could increase by by 85% Odds of selling to new customers = 15%, as compared to those for existing customers (50%)

CONTD
70% of the complaining customers will remain loyal if problem is solved 90% of companies do not have the sales and service integration to support ecommerce

Evolution of Information Requirements

Materials Requirements Planning (MRP) Manufacturing Resource Planning (MRP II) Enterprise Resource Planning (ERP)

Supply Chain Management (SCM)

Customer Relationship Management (CRM)

Customer Value
Full Potential
Number of Relationships

Current
Current Customer Value

Current

Relationship Duration

Importance of CRM
Scope
Customer Management Process Threads
Marketing Selling Servicing

Depth
Are we making the right level and type of marketing, sales, and service investments in each of our customer segments?

Customer Relationship

Customer Interaction Channels

Broadcast

Strategies

Mail
Field Personnel Agents/Distributors Call Center Retail Internet Customer Relationship Customer Relationship

Structure

Are we taking a holistic approach to our customers across processes and channels?

Performance
Back Office Process/Systems

Have we implemented best practices and technology in process/channel?

BENIFITS
GAINS CUSTOMERS LOYALTY EASY TO SELL PRODUCTS LIKELYHOOD TO RECOMMEND BRANDING SUCESSFUL CRM CAN GENERATE POSITIVE SHAREHOLDER VALUE

The Five Key Drivers of the Lifetime Value of a Customer Cost of Targeting; Cost of Acquisition; Service and Usage Revenue; Cost of service; and Duration of relationship.

CRM PROCESS
Capture Capture Customer Customer Data Data and Measure and Measure Results Results

The Customer Data and Measure

Results

Capture Customer

The CRM Dynamic

Take Action to Capture Customer Enrich the Customer Data and Measure Relationship Results

Store Data, Mine Capture Customer and Make Data and Measure Information Results Accessible

Capture Manage Build and Customer Data and Measure Customer Value Results

RESEARCH ORIENTATION
TO FIND OUT THE METHOD USED FOR BETTER CUSTOMER SERVICE IMPLEMENTATION OF CRM TECHNOLOGIES USED IN THE CRM PROCESS CUSTOMER BEHAVIOUR INTRACTION WITH CUSTOMER CUSTOMER PROFILING

BIBLIOGRAPHY
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