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Building A Customer-Centric Organization – Customer Relationship…
Building A Customer-Centric Organization – Customer Relationship Management
CRM enables an organization to :question:
Simplify marketing and sales processes
Make call centers more efficient
Cross sell products more effectively
Provide better customer service
Discover new customers
Increase customer revenues
Help sales staff close deals faster
Organizations can find their most valuable customers through “RFM
Recency
How recently a customer purchased items
Frequency
How frequently a customer purchased items
Monetary value
How much a customer spends on each purchase
Three phases in the evolution of CRM
CRM reporting technology
help organizations identify their customers across other applications
CRM analysis technologies
help organization segment their customers into categories such as best and worst customers
CRM predicting technologies
help organizations make predictions regarding customer behavior such as which customers are at risk of leaving
Operational CRM
supports 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 systems that do not deal directly with the customers
CRM success factors
Define information needs and flows
Build an integrated view of the customer
Implement in iterations
Scalability for organizational growth
Clearly communicate the CRM strategy