Crm Lecture 1 1
- 1. Masters in FMS Co-Taught By : Ms.Dimple, Assistant Professor, FMS Department NIFT-Delhi
- 2. According to Merriam Webster, a Customer is: 1 : one that purchases a commodity or service 2 : an individual usually having some specified distinctive trait <a real tough customer> According to the Princeton WordNet Bank, a Customer is: someone who pays for goods or services
- 3. According to Princeton’s WordNet Bank: a relation between people; (`relationship' is often used where `relation' would serve, as in `the relationship between inflation and unemployment', but the preferred usage of `relationship' is for human relations or states of relatedness); a state of connectedness between people (especially an emotional connection); "he didn't want his wife to know of the relationship" a state involving mutual dealings between people or parties or countries kinship: (anthropology) relatedness or connection by blood or marriage or adoption According to Merriam Webster, a relationship is: 1 : the state of being related or interrelated <studied the relationship between the variables> 2 : the relation connecting or binding participants in a relationship: as a : kinship b : a specific instance or type of kinship 3 a : a state of affairs existing between those having relations or dealings <had a good relationship with his family> b : a romantic or passionate attachment
- 4. Ongoing process of managing customer relationships using a synergistic blend of the triad. Broad terminology used to cover concepts used to manage relationships Key factor involved in making a potential customer into a brand ambassador
- 5. They outweigh the failures by far Decrease the sales cycle while increasing sale performance Improve revenue rates/customer Reduced lead generation cost Increased productivity
- 6. 3 Key aspects that can be implemented in isolation Operational CRM Collaborative CRM Analytical CRM META Group developed concept in late-1990s dubbed “CRM Ecosystem”
- 7. The CRM System Management Customer Operational CRM Shared Data Base Analytical CRM Marketing Sales Service Data Warehouse Analytical CRM Operational CRM
- 8. Understand what motivates your customers Customise services and products Deliver good service Make it easy and useful Prioritise profitability
- 9. Develop better communication channels Collect vital data, like customer details and order histories Create detailed profiles such as customer preferences Deliver instant, company-wide access to customer histories Identify new selling opportunities
- 10. Developing the organizational performance includes: develop the performance program framework Identify dimensions and how these will measure the outcomes Create a list of performance measures and indicators that will determine if the dimension is meeting the performance driven CRM