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Building a customer - Centric organization - customer relationship…
Building a customer - Centric organization - customer relationship management
CRM enables an organization to:
Provide better customer services
make call centers more efficient
cross sell products more effectively
help sales staff close deals faster
simplify marketing and sales processes
discover new customers
increase customer revenues
RFM
How recently a customer purchased items (
R
ecency)
How frequently a customer purchased items (
F
requency)
How much customer spends on each purchase (
M
onetary valur)
Evolution of CRM
CRM reporting technology - identify their customers
CRM analysis technologies - segment their customers into categories
CRM predicting technologies - make prediction regarding customers behavior
Using analytical CRM to Enhance Decisions
Operational CRM - support
traditional transactional processing
for day-to-day front-office operations or systems that deal directly with the customers
Analytical CRM -
supports back-office
operations and strategic analysis and includes all system that do not deal directly with the customers
Customer relationship management succes factor
clear communicate the CRM strategy
Define information needs and flows
Build an integrated view of the customer
Impliment in interations
Scalability for organizational growth
