CRM presentation
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CRM, or Customer Relationship Management, integrates sales, marketing, and service strategies to ensure consistent interactions with customers through three phases: acquiring new customers, enhancing relationships, and retaining existing ones. Key tactics include cross-selling and up-selling to boost revenue and customer retention, as well as implementing a well-planned CRM strategy aligned with organizational goals. Successful CRM can lead to increased profits, reduced customer attrition, and enhanced customer satisfaction.
CRM presentation
- 2. What is CRM? • Combination of integrated sales, marketing and service strategies • Involves a consistent, dependable and convenient interaction with customers on a regular basis. Sales Support Marketing CRM
- 3. Three Phases of CRM 1. Acquiring New Customers 2. Enhancing Existing Relationships 3. Retaining Customers Relationship
- 4. 1. Acquiring • Good planning is required to accomplish the strategies. • Promoting the product & service. • Innovation & convenience. • Immediate response to the customer
- 5. 2. Enhancing • Customer satisfaction by effective resolution of issues & concerns • Cross-selling & Up-selling • Giving importance to customer suggestions
- 6. 3. Retaining • Complete understanding of the needs of the customers • Most of the companies focus on maintaining their relation with their existing customers rather than acquiring new customers.
- 7. CRM Marketing Initiatives 1. Cross selling The act of selling a product or service to customer as a result of another product or service.
- 9. i) Offline Cross-Selling MC’ Donald's
- 10. ii) Online Cross-Selling Amazon ebay •
- 11. • Increases revenue • Help in enhancing the service • Retain customers • Attract new customers • Stay competitive in the market
- 12. 2. Up Selling Sales technique where a seller introduces the customer to purchase more expensive items, upgrades or other add ons in an attempt to make a profitable sale.
- 13. Examples : Delivery options Movie concessions
- 14. Hotel apartments Car wash
- 15. • Exposing customers to better options, Customer satisfaction • Marketing of profitable services and products • Increase in profits • Increase in sales
- 17. CRM 4 : FIELD SERVICESCRM3 :SALES CRM 2: MARKETING CRM 1: CALL CENTER
- 18. FIVE IMPORTANT STEPS 1.Designing a strategy before implementing your CRM software 2.A CRM-strategy has to be aligned to the mission and purpose of the organization . 3.CRM-strategies must acquire support by their senior executives to succeed.
- 19. 4.The key people from your organization, who will be using the CRM-system, should support fully understand how CRM works. 5.Choose your CRM-software wisely.
- 20. COST –justifying Three possible financial outcomes • Increased profits • Break even • Lost revenue
- 21. Quantifiable metrics CRM can result in revenue or cost savings via the following quantifiable metrics 1. More efficient customer –focused business processes. 2. Decreased customer attrition 3. Increased sales .
- 22. Company Case Mr.Maz sign up for Business Banking Online of Barclays bank He spent some 10 minutes completing the application form looking forward to getting his bank account set up there and then
- 23. The Reality ,Completely Different !!! Disappointment 1: In the world of Barclays “online sign up” actually means “offline sign up”! Disappointment 2: Why are Barclays wasting my time? Disappointment 3: Confirms that the bank is badly broken if viewed through the Customer Experience lens
- 24. Viral Marketing • If one individual is dissatisfied, odds are he’ll tell a collection of other individuals • The average unhappy customer tells eight other potential customers about his negative experience • What customers say is actually more important than what companies say about themselves
- 25. • In an age where every action a company takes can be instantly exposed across the Web, consumer trust is more important than ever. • Extreme trust proactively protects customers' interests. • For eg, if you order a book from Amazon, they'll remind you that you already bought it. ITunes does that as well.
- 26. What Exactly is CRM • The infrastructure that enables • Delineation of & increase in customer value • By correct means • To motivate valuable customers • To remain loyal-indeed ,to buy again
- 27. Goal of CRM To recognize and treat each customers as Individual Change a customer’s relationship with a company Increase revenues in bargain
- 28. Companies should ask, How can we use these CRM technologies to do a better job and provide a more appropriate or relevant product, and save our customers time and energy?