CRM Customer Relationship Management

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "CRM Customer Relationship Management"

Transcription

1 CRM Customer Relationship Management Bianka Parragh, Phd Óbuda University Keleti Károly Faculty of Business and Management Institute of Enterprise Management Approaches of Customer Relationship Management The origins of CRM The rise of CRM The role of CRM Types of CRM 1

2 RE-INVENTING CRM In the late 1990s and early year of the 21th century, CRM was offered up as the next wave of marketing. The tools and techniques that would make traditional marketing obsolete. The automated approaches that would make customer relationships automatic and would enable the marketing organization to shell anything to anyone they chose. CRM was the single solution that would solve every marketing problem. Simply install the software, plug in the customer data and sit back and watch the profils roll in. But it wasn t that simple. It wasn t that easy. And, it simply didn t work that way. Millions of dollars anp pounds and yen and Euros were spent on CRM systems, software and structures but, not enough seemed to come back. The five important things are about the book s approach to CRM 1.Strategic, not more tactics. CRM is a business decision, made by business managers to achieve business goals. So, most of all, this approach to CRM is strategic. 2. Customers, not companies. Payne s approach puts the company and the customer in perspective. If there is no benefits to the customer, there can be no benefit to the company. CRM is reciprocal process. 3. Process, not software. The found is something the organization does, not something the IT group or the marketing department, does or the customer service group does. Process is the key to CRM. 4.Outcomes, not inputs. The focus in on outcomes. What is supposed to happen as a result of the implementation of a CRM approach. 5.Long-term, not short-term, views. Payne describes CRM through a long-term, brand-building and shareholder value view. It allows the organization to focus on customers, not just activities or immediate actions. 2

3 The Benefits of Customer Relationship Management (CRM) 1. Better customer service 2. Increased work capacity 3. More success for your company A strategic framework for CRM Customer Relationship Management, or CRM, is increasingly found at the top of corporate agendas. Companies large and small across variety of sectors are embracing CRM as a major element of corporate strategy. CRM, also more recently called customer management, is a business approach, that seeks to create, develop and enhance relationships with carefully targeted customers in order to improve customer value and corporate profitability and thereby maximize shareholder value. CRM unites the potential of new technologies and new marketing thinking to deliver profitable, long-term relationships. CRM represents a renewed perspective of managing customer relationships based on relationship marketing principles; the key differenc being that today these principles are applied in context of unprecedented technological innovation and market transformation. 3

4 The origins of CRM Transaction Marketing Relationship Marketing In the 1950s: Marketing mix 4P (product, price, promotion, place) Lead to increased demand for the company s offer. In the 1990s: The marketplaces was vastly different from that of the 1950s. (greater customer choice, convinience existed, globalization of markets, new sources of competition innovative business thinking and actions) Philip Kotler Northwestern University Integrated approach: managing the competing interest of customers, staff, shareholders and other stakeholders. The trasition to relationship marketing Emphasis on all market domains and customer relition Relationship marketing Emphasis on customer relation Transactional Marketing Functionally based marketing Cross-functionally based marketing 4

5 The key principles of relationship marketing The three distinguishing characteristics of relationship marketing: An emphasis on retention of profitable customers Maximizing the lifetime value of a customer is a fundamental goal of relationship marketing. Loyal customers represent the goodwill earned by the brand. Loyal customers referring new customers and redicing acquisition costs. An emphasis on multiple markets The model identifies six key groups, or market domains, that contribute to an organization s effectiveness in the marketplace. They are customer markets, influencer (including shareholder) markets, recruitment markets, referrak markets, internal markets, and supplier/alliance markets. An emphasis on a cross-functional approach to marketing To succeed in managing the multiple marketing stakeholders effectively, marketing must be cross-functional. The concept and the philosophy of marketing extend across the business enterprise. Everyone within the business must understand that they perform a role in serving custmers, be they internal or external customers. The rise of CRM The emergence of CRM as a management approach is a consequence of a number of important trends. These include: The shift in business focus from transactional marketing to relationship marketing. The realization that customers are a business asset and not simply a commercial audience. The transition in structuring organizations, on a strategic basis, from functions to processes. The recognition of the benefits of using information proactively rather than solely reactively. The greater utilization of technology in managing and maximizing the value of information. The acceptance of the need for trade-off between delivering and extracting customer value. The development of one-to-one marketing approaches. 5

6 Marketing on the basis of relationships Marketing on the basis of relationships concetrates attention on building customer value in order to retain customers. By building on existing investment, in terms of product development and customer acquisition costs, firms can generate potentially higher revenue and profit at lower cost. Marketing on the basis of transactions, by contrast, involves greater financial outlay and risk. The prominence given to customer service encourages customer contact and customer involvement. As a result, firms can learn more about customers needs and build this knowledge into future product and service delivery. Viewing customers as a business assets The relationships with customers can be selectively managed and further developed to improve customer retention and profitability. CRM stresses indentifying the most profitable customers and building relationships with them that increase the value of this business asset over time. 6

7 Organizing in terms of processes Processoriented firms firms retain their functional excellence in marketing, manufacturing and so on, but recognize that processes are what deliver value to the customer as well as to the supplier. A process is essentially any discret activity, or set of activities, that adds value to an input. In the modern marketplace, customers rarely seek an isolated product; they also want immediate delivery, guaranteed warranty and ongoing service support. The product or service offer is has therefore become multifaceted. Process integration and cross-functional collaboration are defining strengths of CRM. From reactive to proactive use of information Customer service operations and, in particular, call centres, often focus mainly on reactive relationship with customers. BUT Experience has shown, however, that carefully designed proactive customer care initiatives can be much more effective and rewarding. Proactive customer support operation do not wait for complaints to be registered but actively seek to uncover and remedy customer dissatisfaction. 7

8 Deploying IT to maximize the value of information Firm s ability to exploit the value of information relies heavily on the existence of the supportive IT environment. IT components of CRM systems: 1. Data repository (that enables the organization to collect the complete set of information on customers) 2. Applications (that enable value-adding interactions with customers, often across different channels in order to meet their needs. Balancing the value trade-off Creating an appropriate balance beetwen the value delivered to customers and the value received in return and recognizing how this may need to change for different customer segments, is an essential element of CRM. Optimizing the value trade-off means marrying the aforementioned principles of relationship marketing with current marketing trend. 8

9 Developing one-to-one marketing One-to-one marketing is a form of marketing in wich dialoge occurs directly between a company and individual customers or groups of customers with similar needs. Many B2B organizations with large customers customers practise one-to-one marketing through key account management strategies. Smaller customers may be dealt with in a more impersonal way through call centre or mail order strategies. The unique capabilities of the Internet allow marketers to capture the anonymous behaviour necessary to be able to answer the question: What does each customer want? The role of CRM and varying definitions of CRM Organizations often view CRM from a limited perspective or adopt CRM on a fragmented basis. The lack of clarity about CRM is evident in CRM terminology. CRM is an e-commerce application. Data-driven marketing. CRM is a business strategy combined with technology to effectively manage the complete customer life-cycle. A term for methodologies, technologies and e- commerce capabilities used by companies to manage customer relationships. It involves using existing customer information to improve company profitability and customer service. 9

10 What is Customer Relationship Management (CRM)? Customer relationship management (CRM) is a business strategy that uses technology to implement strategies aimed at helping companies acquire new customers, sell more to existing customers, analyze the the effectiveness of marketing activities, and provide better service to increase customer retention. CRM software provides greater access to customer information via a centralized database. CRM? The definition of CRM has a signifficant impact on how CRM is accepted and practised by the entire organization. CRM is not simply an IT solution to the problem of getting the right customer base and growing it. CRM is much more. It involves a profound synthesis of strategic visions, a corporate understanding of the nature of customer within multi-channel environment, the utilization of the appropriate information management and CRM applications and high quality operations, fulfilment and service. CRM emphasizes that managing customer relationships is a complex and ongoing process and a response to and reflection of a rapidly changing marketing environment. 10

11 Relationship marketing, CRM and customer managament a hierarchy Strategic management of relationships with all relevant stakeholders Strategic mamagement of relationships with customers; involving appropriate use of technology Implementation and tactical management of customer interactions RELATIONSHIP MARKETING CUSTOMER RELATIONSHIP MARKETING CUSTOMER MANAGEMENT Types of CRM I. Operational CRM - The automation of business processes with front-office customer contact points. These areas include sales automation, marketing automation and customer service automation. Operational CRM has been a major area of enterprise expenditure as companies develop call centres or adopt sales force automation systems. Analytical CRM This involves the capture, storage, organization, analysis, interpretation and use of data created from the operational side of the business. Collaborative CRM This involves the use of collaborative services and infrastructure to make interaction between a company and its multiple channels possible. This enables interaction between customers, the enterprise and its employees. 11

12 Types of CRM II. Together, the three components of CRM support and feed into each other. Succesful CRM, which results in a superior customer experience, requires integration of all three of these component parts. Collaborative CRM enables customers to contact the enterprise through a range of different channels. Operational CRM facilitates the customer contacts with the organization and subsequent processing and fulfilment of their requirements. Analytical CRM enables the right customers to be targeted with appropriateoffers and permits personalization and the one-to-one marketing to be undertaken throughsuperior customer knowledge. 12

Much case study material adds further weight to an experience-packed text, showing major benefits that can be gained by effective CRM.

Much case study material adds further weight to an experience-packed text, showing major benefits that can be gained by effective CRM. Handbook of CRM: Achieving Excellence in Customer Management Adrian Payne Elsevier 2006 ISBN: 0750664371, 438 pages Theme of the Book This highly usable book: gives the reader a strong understanding of

More information

A strategic framework for CRM

A strategic framework for CRM HCRM-Ch01.qxd 12/11/04 17:37 Page 4 Chapter 1 A strategic framework for CRM Customer Relationship Management, or CRM, is increasingly found at the top of corporate agendas. Companies large and small across

More information

Chapter. Enterprise Business Systems

Chapter. Enterprise Business Systems Chapter 4 Enterprise Business Systems Learning Objectives Identify and give examples to illustrate the following aspects of customer relationship. Business processes supported Customer and business value

More information

Management Update: The Eight Building Blocks of CRM

Management Update: The Eight Building Blocks of CRM IGG-06252003-01 S. Nelson Article 25 June 2003 Management Update: The Eight Building Blocks of CRM Customer relationship management (CRM) represents the key business strategy that will determine successful

More information

InfoTrak Information for Better Decisions

InfoTrak Information for Better Decisions InfoTrak Information for Better Decisions Profitable Customer Relationship Management Builds on Strategy and Technology On average, businesses lose 15 percent to 20 percent of their customer base each

More information

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology

Customer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology Customer relationship management MB-104 By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology University Syllabus UNIT-1 Customer Relationship Management- Introduction

More information

Customer Relationship Management: Perspectives from the Market Place Simon Knox, Stan Maklan, Adrian Payne, Joe Peppard, Lynette Ryals

Customer Relationship Management: Perspectives from the Market Place Simon Knox, Stan Maklan, Adrian Payne, Joe Peppard, Lynette Ryals Customer Relationship Management: Perspectives from the Market Place Simon Knox, Stan Maklan, Adrian Payne, Joe Peppard, Lynette Ryals Butterworth Heinemann 2003 ISBN:0750656778, 290 pages Theme of the

More information

A SAS White Paper: Implementing the Customer Relationship Management Foundation Analytical CRM

A SAS White Paper: Implementing the Customer Relationship Management Foundation Analytical CRM A SAS White Paper: Implementing the Customer Relationship Management Foundation Analytical CRM Table of Contents Introduction.......................................................................... 1

More information

Transforming customer service with business analytics

Transforming customer service with business analytics IBM Software Business Analytics Customer Service Transforming customer service with business analytics 2 Transforming customer service with business analytics Contents 2 Overview 2 Customer service is

More information

The Basics of Branding: How to Maximize Brand Efficiency and Boost Your Bottom Line

The Basics of Branding: How to Maximize Brand Efficiency and Boost Your Bottom Line The Basics of Branding: How to Maximize Brand Efficiency and Boost Your Bottom Line 1 The Basics of Branding: How to Maximize Brand Efficiency and Boost Your Bottom Line The Branding Evolution A brand

More information

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) 3.1 INTRODUCTION The most important purpose of any service orientated organisation is to retain customers. It is critical for any organization to keep

More information

Achieving customer loyalty with customer analytics

Achieving customer loyalty with customer analytics IBM Software Business Analytics Customer Analytics Achieving customer loyalty with customer analytics 2 Achieving customer loyalty with customer analytics Contents 2 Overview 3 Using satisfaction to drive

More information

Marketzone. campaigns that may or may not be working. Marketers today live in the world of the always-connected customer

Marketzone. campaigns that may or may not be working. Marketers today live in the world of the always-connected customer marketzone Marketers today live in the world of the always-connected customer... and cannot afford to waste dollars on campaigns that may or may not be working. Marketers today live in a fast-paced world

More information

CUSTOMER RELATIONSHIP MANAGEMENT AND DATA WAREHOUSING

CUSTOMER RELATIONSHIP MANAGEMENT AND DATA WAREHOUSING 03-03-10 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND TECHNOLOGIES CUSTOMER RELATIONSHIP MANAGEMENT AND DATA WAREHOUSING Duane E. Sharp INSIDE The CRM Solution; Customer Feedback; Defining the Customer;

More information

CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES

CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES Chapter 1: Introduction to CRM Selected definitions of CRM 1 CRM is an information industry term for methodologies, software, and usually Internet

More information

Hello, Goodbye. The New Spin on Customer Loyalty. From Customer Acquisition to Customer Loyalty. Definition of CRM.

Hello, Goodbye. The New Spin on Customer Loyalty. From Customer Acquisition to Customer Loyalty. Definition of CRM. Hello, Goodbye. The New Spin on Customer Loyalty The so-called typical customer no longer exists. Companies were focused on selling as many products as possible, without regard to who was buying them.

More information

SATISFYING YOUR CUSTOMERS. Part 1. Best Practices and Technology that Anchors Your Business On Customer Loyalty. www.axisgp.

SATISFYING YOUR CUSTOMERS. Part 1. Best Practices and Technology that Anchors Your Business On Customer Loyalty. www.axisgp. SATISFYING YOUR CUSTOMERS Best Practices and Technology that Anchors Your Business On Customer Loyalty Part 1 www.axisgp.com (305) 418 9440 INTRODUCTION Satisfied customers are the foundation of a healthy

More information

Customer Relationship Management

Customer Relationship Management Customer Relationship Management by Professor Adrian Payne Director Centre for Relationship Marketing, Cranfield University Introduction Customer Relationship Management (CRM) is developing into a major

More information

Taking A Proactive Approach To Loyalty & Retention

Taking A Proactive Approach To Loyalty & Retention THE STATE OF Customer Analytics Taking A Proactive Approach To Loyalty & Retention By Kerry Doyle An Exclusive Research Report UBM TechWeb research conducted an online study of 339 marketing professionals

More information

BOOTS delighting customers, building customer loyalty and profits

BOOTS delighting customers, building customer loyalty and profits [ BOOTS delighting customers, building customer loyalty and profits Marcus Ruebsam, Vice President Global Solutions, LoB Marketing Chris Edson, IT Programme Manager, Boots UK [ Learning Points Best practices

More information

Case Study & POC & Demos Information

Case Study & POC & Demos Information Case Study & POC & Demos Information Type: Case Study Name: Multichannel Campaign Management (MCCM) Description: The IBM Company seeks, as vendor, through the multichannel campaign management (MCCM) services,

More information

Chapter 11. CRM Technology

Chapter 11. CRM Technology Chapter 11 CRM Technology Customer relationship management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers. CRM software is

More information

Informatics For Business Administration

Informatics For Business Administration Informatics For Business Administration 3.1 Definition 3.2 Operational and Analytical CRM 3.3 Marketing the source of valuable customer data 3.4 The core processes CRM 3.5 CRM software 3.6 A CRM Implementation

More information

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material,

More information

Maximizing Customer Retention: A Blueprint for Successful Contact Centers

Maximizing Customer Retention: A Blueprint for Successful Contact Centers Maximizing Customer Retention: A Blueprint for Successful Contact Centers Sponsored by Table of Contents Executive Summary...1 Creating Loyal Customers: A Critical Company Goal...1 Causes of Customer Attrition...2

More information

Chapter 3: Strategic CRM

Chapter 3: Strategic CRM Chapter 3: Strategic CRM Overview Topics discussed: CRM perspectives The components of strategic CRM Steps in developing a CRM strategy Case Study: CRM implementation at International Business Machines,

More information

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Lynn Brunner Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions,

More information

What is missing in campaign management today? Shaun Doyle VP Intelligent Marketing Solutions, SAS

What is missing in campaign management today? Shaun Doyle VP Intelligent Marketing Solutions, SAS What is missing in campaign management today? Shaun Doyle VP Intelligent Marketing Solutions, SAS Content What is campaign management? How has the technology evolved? Where are we today? What is missing?

More information

Voice. listen, understand and respond. enherent. wish, choice, or opinion. openly or formally expressed. May 2010. - Merriam Webster. www.enherent.

Voice. listen, understand and respond. enherent. wish, choice, or opinion. openly or formally expressed. May 2010. - Merriam Webster. www.enherent. Voice wish, choice, or opinion openly or formally expressed - Merriam Webster listen, understand and respond May 2010 2010 Corp. All rights reserved. www..com Overwhelming Dialog Consumers are leading

More information

Digital Business Requires Application Performance Management

Digital Business Requires Application Performance Management A Custom Technology Adoption Profile Commissioned By BMC Software January 2015 Digital Business Requires Application Performance Management Introduction Digital is transforming the rules of business success.

More information

DELIVERING SERVICE DIFFERENTIATION THROUGH CUSTOMER EXPERIENCE. Delivering service differentiation through customer experience

DELIVERING SERVICE DIFFERENTIATION THROUGH CUSTOMER EXPERIENCE. Delivering service differentiation through customer experience Delivering service differentiation through customer experience CHASE RESPONSE MAY 2010 The marketplace Companies are facing an increasingly competitive landscape where the battle for market share and changing

More information

5 Steps to Creating a Successful Optimization Strategy

5 Steps to Creating a Successful Optimization Strategy 5 Steps to Creating a Successful Optimization Strategy Many companies are now recognizing that in a world of mobile devices and increasingly sophisticated online services, the creation of an excellent

More information

Management Update: The Importance of Developing a CRM Strategy

Management Update: The Importance of Developing a CRM Strategy IGG-10302002-03 J. Kirkby Article 30 October 2002 Management Update: The Importance of Developing a CRM A customer relationship management (CRM) strategy states how to turn a customer base into an intangible

More information

Title here. Successful Business Model Transformation. in the Financial Services Industry. KPMG s Evolving World of Risk Management SECTORS AND THEMES

Title here. Successful Business Model Transformation. in the Financial Services Industry. KPMG s Evolving World of Risk Management SECTORS AND THEMES SECTORS AND THEMES Successful Business Model Transformation Title here in the Financial Services Industry Additional information in Univers 45 Light 12pt on 16pt leading KPMG s Evolving World of Risk Management

More information

EXPLOITING CRM CONNECTING WITH CUSTOMERS

EXPLOITING CRM CONNECTING WITH CUSTOMERS EXPLOITING CRM CONNECTING WITH CUSTOMERS A Review RIZWANUL BARI SYNOPSIS: Increasingly demanding customers and intense competition require that strategies associated with customers become an integral and

More information

ANALYTICS. Acxiom Marketing Maturity Model CheckPoint. Are you where you want to be? Or do you need to advance your analytics capabilities?

ANALYTICS. Acxiom Marketing Maturity Model CheckPoint. Are you where you want to be? Or do you need to advance your analytics capabilities? ANALYTICS Analytics defined Analytics is the process of studying data to identify potential trends, evaluate decisions, or assess the performance of a tool, event, or scenario. The process should include

More information

CUSTOMER RELATIONSHIP MANAGEMENT

CUSTOMER RELATIONSHIP MANAGEMENT 3-02-70 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND TECHNOLOGIES CUSTOMER RELATIONSHIP MANAGEMENT Ken Liang and Houston H. Carr INSIDE Customer Relationship Management; Information Technology and CRM;

More information

The ROI of Data Governance: Seven Ways Your Data Governance Program Can Help You Save Money

The ROI of Data Governance: Seven Ways Your Data Governance Program Can Help You Save Money A DataFlux White Paper Prepared by: Gwen Thomas The ROI of Data Governance: Seven Ways Your Data Governance Program Can Help You Save Money Leader in Data Quality and Data Integration www.dataflux.com

More information

THE DIGITAL ADVANTAGE

THE DIGITAL ADVANTAGE We optimizing under-performing interactive and multimedia assets, with the intention to uncover hidden branding and profit opportunities. Our value is in our ability to strategically execute against our

More information

COMM 391. Introduction to Management Information Systems. Case 9.1 The Next Step in Customer Relationship Management

COMM 391. Introduction to Management Information Systems. Case 9.1 The Next Step in Customer Relationship Management COMM 391 Introduction to Management Information Systems Winter 2014 Term 1 IT S ROLE IN CUSTOMER RELATIONSHIP MANAGEMENT AND SUPPLY CHAIN MANAGEMENT Case 9.1 The Next Step in Customer Relationship Management

More information

GenOmega Achieving the Genesis and Omega

GenOmega Achieving the Genesis and Omega GenOmega Achieving the Genesis and Omega Collaborative s GenOmega Digital White Paper Prepared by Dave Guertin GenOmega Partners Date 30 March 2001 Table of Contents Executive Summary...3 What are Collaborative

More information

Gain a new perspective on your digital customer experience and get closer to what matters

Gain a new perspective on your digital customer experience and get closer to what matters Gain a new perspective on your digital customer experience and get closer to what matters Redesigning the way companies work and engage customers and employees in the digital world. What if you could actually

More information

Shell CRM 2020. October 2014

Shell CRM 2020. October 2014 Shell CRM 2020 October 2014 MOST CONFIDENTIAL 2 2 THE SITE OF THE FUTURE RETAIL VISION Experience Role in Retail Strategy BEST FUELS RETAILER IN THE WORLD Accelerate Future Heartlands Defend and Grow the

More information

Powering Performance with Customer Intelligence. Are you ready to make Customer Intelligence your performance advantage to outpace the competition?

Powering Performance with Customer Intelligence. Are you ready to make Customer Intelligence your performance advantage to outpace the competition? Powering Performance with Customer Intelligence Are you ready to make Customer Intelligence your performance advantage to outpace the competition? Frequently Asked Questions (FAQs) PNT Marketing Services

More information

Best Practices: Customer Relationship Management By Ian Gordon

Best Practices: Customer Relationship Management By Ian Gordon I M P R O V I N G T H E P R A C T I C E O F M A N A G E M E NT Best Practices: Customer Relationship Management By Ian Gordon Reprint # 9B02TF08 IVEY MANAGEMENT SERVICES NOVEMBER/DECEMBER 2002 COPYRIGHT

More information

Demand Generation vs. Marketing Automation David M. Raab Raab Associates Inc.

Demand Generation vs. Marketing Automation David M. Raab Raab Associates Inc. Demand Generation vs. Marketing Automation David M. Raab Raab Associates Inc. Demand generation systems help marketers to identify, monitor and nurture potential customers. But so do marketing automation

More information

The Definitive Guide to Social CRM

The Definitive Guide to Social CRM The Definitive Guide to Social CRM Maximizing Customer Relationships with Social Media to Gain Market Insights, Customers, and Profit Barton J. Goldenberg Chapter 1 Understanding the Intersection of CRM,

More information

GINeVRA. GINeVRA. Digital Research Hub. Research Report- CRM. 1 2014. All Rights Reserved.

GINeVRA. GINeVRA. Digital Research Hub. Research Report- CRM. 1 2014. All Rights Reserved. GINeVRA Digital Research Hub Research Report- CRM 1 2014. All Rights Reserved. It is estimated that nearly one and a half billion people visited a social media site in 2013. They all had something to say;

More information

Get Better Business Results

Get Better Business Results Get Better Business Results From the Four Stages of Your Customer Lifecycle Stage 1 Acquisition A white paper from Identify Unique Needs and Opportunities at Each Lifecycle Stage It s a given that having

More information

Optum TM Consumer Acquisition Platform. A Next-Generation Approach to Acquire, Retain and Engage Members.

Optum TM Consumer Acquisition Platform. A Next-Generation Approach to Acquire, Retain and Engage Members. Optum TM Consumer Acquisition Platform A Next-Generation Approach to Acquire, Retain and Engage Members. Challenge and opportunity have arrived at the same time for health plans. Millions of consumers

More information

e-crm: Latest Paradigm in the world of CRM

e-crm: Latest Paradigm in the world of CRM e-crm: Latest Paradigm in the world of CRM Leny Michael (Research Scholar, Bharathiyar University, Coimbatore) Assistnat Professor Caarmel Engineering College Koonamkara Post, Perunad ranni-689711 Mobile

More information

Learning Outcome 1 The learner will: Understand the contribution Customer Service makes to achieving organisational objectives.

Learning Outcome 1 The learner will: Understand the contribution Customer Service makes to achieving organisational objectives. Unit Title: Managing the Customer Relationship Unit Reference Number: R/601/3378 Guided Learning Hours: 160 Level: Level 5 Number of Credits: 18 Learning Outcome 1 The learner will: Understand the contribution

More information

Agenda Overview for Digital Commerce, 2015

Agenda Overview for Digital Commerce, 2015 G00270685 Agenda Overview for Digital Commerce, 2015 Published: 18 December 2014 Analyst(s): Jennifer Polk Marketing is making a greater impact on, and taking more responsibility for, digital commerce.

More information

CRM The Critical Cog in Today s Business Strategy

CRM The Critical Cog in Today s Business Strategy CRM The Critical Cog in Today s Business Strategy An Eagle Creek Software Services White Paper, 2012 While CRM has become a well known, overused acronym, it still remains a truly under leveraged concept.

More information

Optimize Sales Order Management with Enterprise Content Management

Optimize Sales Order Management with Enterprise Content Management OpenText Solution Brief OpenText ECM Suite for SAP ECM for Sales Order Management by OpenText Objectives Solution Benefits Quick Facts Optimize Sales Order Management with Enterprise Content Management

More information

THE PLANNING OF A CUSTOMER RELATIONSHIP MANAGEMENT PROJECT: REQUIREMENTS AND OPPORTUNITIES

THE PLANNING OF A CUSTOMER RELATIONSHIP MANAGEMENT PROJECT: REQUIREMENTS AND OPPORTUNITIES THE PLANNING OF A CUSTOMER RELATIONSHIP MANAGEMENT PROJECT: REQUIREMENTS AND OPPORTUNITIES Professor PhD Adriana OLARU Lecturer Alexandru CAPATINA Dunărea de Jos University of Galati, Romania Abstract:

More information

Chapter 4: Implementing the CRM Strategy

Chapter 4: Implementing the CRM Strategy Chapter 4: Implementing the CRM Strategy Overview Topics discussed: Elements of a CRM System Customer Interphase / Touch Points CRM Applications Return on Investment (ROI) of CRM CRM Costs Why is ROI of

More information

CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES

CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES I n t e r n a t i o n a l J o u r n a l o f M a n a g e m e n t F o c u s 1 CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES G. RAJU Asst. Professor of Business Administration, St. Thomas

More information

Elevate Customer Experience and Engagement in the New Digital World

Elevate Customer Experience and Engagement in the New Digital World Elevate Customer Experience and Engagement in the New Digital World John Chan CRM Solutions Lead, Microsoft Business Solutions Microsoft Asia Customer buying behavior has fundamentally changed therefore,

More information

Transforming the Way to Market, Sell and Service

Transforming the Way to Market, Sell and Service Customer Relationship Management (CRM) Transforming the Way to Market, Sell and Service Agenda I. CRM definition and overview II. Getting started with CRM Initiatives 2 1 What is CRM? Customer Relationship

More information

mysap ERP mysap ERP HUMAN CAPITAL MANAGEMENT

mysap ERP mysap ERP HUMAN CAPITAL MANAGEMENT mysap ERP mysap ERP HUMAN CAPITAL MANAGEMENT mysap ERP: YOUR INDUSTRY. YOUR BUSINESS. YOUR FUTURE. mysap ERP is the world s most complete solution to support the foundation of your business, enabling adaptive

More information

White Paper. CRM a successful business strategy. Succeed!

White Paper. CRM a successful business strategy. Succeed! WHITE PAPER CRM A SUCCESSFUL BUSINESS STRATEGY 1 White Paper CRM a successful business strategy IN THIS WHITE PAPER CRM a successful business strategy by Zync Customer Management AB This document is guide

More information

The Role of Customer Relationship Management (CRM) Solutions for Financial Services Wholesalers

The Role of Customer Relationship Management (CRM) Solutions for Financial Services Wholesalers Whitepaper The Role of Customer Relationship Management (CRM) Solutions for Financial Services Wholesalers Account Managers Product Managers Channel Managers Table of Contents The opportunity...3 CRM:

More information

Audi's Three Steps to a Winning CRM Strategy

Audi's Three Steps to a Winning CRM Strategy Case Studies, E. Thompson, A. Bona Research Note 14 January 2004 Audi's Three Steps to a Winning CRM Strategy This case study shows how Audi takes reactive, proactive and selective approaches to customer

More information

Customer Relationship Management Lecture 1: Introduction - CRM Jargons, Value Systems and Value Chains. Mehran Rezaei

Customer Relationship Management Lecture 1: Introduction - CRM Jargons, Value Systems and Value Chains. Mehran Rezaei Customer Relationship Management Lecture 1: Introduction - CRM Jargons, Value Systems and Value Chains Mehran Rezaei سرفصل مطالب این جلسه ebiz و ecommerce آنچه مد نظر ماست از نقطه نظر گرایش تجارت الکترونیکی

More information

Informatics For Business Administration

Informatics For Business Administration Informatics For Business Administration 3.1 Definition 3.2 Operational and Analytical CRM 3.3 Marketing the source of valuable customer data 3.4 The core processes CRM 3.5 CRM software 3.6 A CRM Implementation

More information

US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS

US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS Whitepaper Eagle Creek Software Services March 2015 Introduction CRM services are shifting from a focus on point solution

More information

How Organisations Are Using Data Mining Techniques To Gain a Competitive Advantage John Spooner SAS UK

How Organisations Are Using Data Mining Techniques To Gain a Competitive Advantage John Spooner SAS UK How Organisations Are Using Data Mining Techniques To Gain a Competitive Advantage John Spooner SAS UK Agenda Analytics why now? The process around data and text mining Case Studies The Value of Information

More information

RISK BASED INTERNAL AUDIT

RISK BASED INTERNAL AUDIT RISK BASED INTERNAL AUDIT COURSE OBJECTIVE The objective of this course is to clarify the principles of Internal Audit along with the Audit process and arm internal auditors with a good knowledge of risk

More information

ERP Response to E-Business Challenges. Peoplesoft Case

ERP Response to E-Business Challenges. Peoplesoft Case 50 ERP Response to E-Business Challenges. Peoplesoft Case Senior lect. Doina FOTACHE, PhD., Senior lect. Luminita FÎNARU, PhD. Department of Informatics, Al. I Cuza University, Iasi ERP is becoming the

More information

Agenda Overview for Data-Driven Marketing, 2015

Agenda Overview for Data-Driven Marketing, 2015 G00270683 Agenda Overview for Data-Driven Marketing, 2015 Published: 29 December 2014 Analyst(s): Martin Kihn Gartner's 2015 research will help you seize the growth opportunities that data-driven marketing

More information

Get Better Business Results

Get Better Business Results Get Better Business Results From the Four Stages of Your Customer Lifecycle Stage 2 Service A white paper from Identify Unique Needs and Opportunities at Each Lifecycle Stage Each stage in the customer

More information

White Paper. Data Mining for Business

White Paper. Data Mining for Business White Paper Data Mining for Business January 2010 Contents 1. INTRODUCTION... 3 2. WHY IS DATA MINING IMPORTANT?... 3 FUNDAMENTALS... 3 Example 1...3 Example 2...3 3. OPERATIONAL CONSIDERATIONS... 4 ORGANISATIONAL

More information

Chapter 6. CRM in e-business. Customer Relationship Management chapter-6 CRM in E-Business

Chapter 6. CRM in e-business. Customer Relationship Management chapter-6 CRM in E-Business Chapter 6 CRM in e-business Objectives What is ecrm Different levels of ecrm Concept of mobile CRM Evaluation of ecrm Different between CRM and ecrm Need to adopt ecrm What is ECRM? Electronic CRM concerns

More information

Customer Relationship Management in Indian Life Insurance Sector

Customer Relationship Management in Indian Life Insurance Sector Customer Relationship Management in Indian Life Insurance Sector Ashraf Imam Research Scholar, Department of Commerce- Aligarh Muslim University, Aligarh. Abstract Customer relationship management is an

More information

Banking on Business Intelligence (BI)

Banking on Business Intelligence (BI) Banking on Business Intelligence (BI) Building a business case for the Kenyan Banking Sector The new banking environment in Kenya is all about differentiating banking products, increased choices, security

More information

THE PROCESS OF PREPARATION AND IMPLEMENTATION OF CRM IN THE COMPANY

THE PROCESS OF PREPARATION AND IMPLEMENTATION OF CRM IN THE COMPANY Journal of Information, Control and Management Systems, Vol. 6, (2008), No.1 95 THE PROCESS OF PREPARATION AND IMPLEMENTATION OF CRM IN THE COMPANY Viliam LENDEL, Milan KUBINA University of Žilina, Faculty

More information

How to organise / structure an e-commerce team

How to organise / structure an e-commerce team How to organise / structure an e-commerce team This note has been written by Michael de Kare-Silver Michael has been involved in the digital technology, e-commerce and Mobile world for some 15 yrs. He

More information

Customer Segmentation and Profitability

Customer Segmentation and Profitability Customer Segmentation and Profitability Building Loyal, Profitable Customers S O L U T I O N P A P E R : FINANCIAL SERVICES SOLUTION PAPER: FINANCIAL SERVICES Customer Segmentation and Profitability Building

More information

Banking the way we see it. A Tale of Two Banks. Focused Customer Experience Management Provides Crucial Competitive Advantage

Banking the way we see it. A Tale of Two Banks. Focused Customer Experience Management Provides Crucial Competitive Advantage A Tale of Two Banks Focused Customer Experience Management Provides Crucial Competitive Advantage Table of Contents 1 Overview...1 2 Loss of Faith...2 3 Customer Retention...3 4 Efficiency Ratio...4 5

More information

CRM for Real Estate Part 2: Realizing the Vision

CRM for Real Estate Part 2: Realizing the Vision CRM for Real Estate Anne Taylor Contents Introduction... 1 Meet the Challenges... 2 Implementation Approach... 3 Demystifying CRM... 5 Conclusion... 7 Introduction Once the decision to implement a CRM

More information

Microsoft Business Analytics Accelerator for Telecommunications Release 1.0

Microsoft Business Analytics Accelerator for Telecommunications Release 1.0 Frameworx 10 Business Process Framework R8.0 Product Conformance Certification Report Microsoft Business Analytics Accelerator for Telecommunications Release 1.0 November 2011 TM Forum 2011 Table of Contents

More information

Agenda Overview for Multichannel Marketing, 2013

Agenda Overview for Multichannel Marketing, 2013 G00245870 Agenda Overview for Multichannel Marketing, 2013 Published: 3 January 2013 Analyst(s): Jennifer S. Beck, Adam Sarner Consumers are in the driver's seat, with high expectations for multichannel

More information

Deliver a Better Digital Customer Experience Through Sonata s Digital Engagement Solutions

Deliver a Better Digital Customer Experience Through Sonata s Digital Engagement Solutions Deliver a Better Digital Customer Experience Through Sonata s Digital Engagement Solutions The World is Going Digital The incredible growth of the internet, the proliferation of mobile devices and the

More information

CUSTOMER FLOW MANAGEMENT A QMATIC WHITEPAPER PART I: INTRODUCING CFM

CUSTOMER FLOW MANAGEMENT A QMATIC WHITEPAPER PART I: INTRODUCING CFM CUSTOMER FLOW MANAGEMENT PART I: INTRODUCING CFM A QMATIC WHITEPAPER This whitepaper is the first part of three in a series of whitepapers aimed at explaining customer flow management, how it fits into

More information

Design of a Customer-Centric Balanced Scorecard Support for a Research on CRM Strategies of Romanian Companies from FMCG Sector

Design of a Customer-Centric Balanced Scorecard Support for a Research on CRM Strategies of Romanian Companies from FMCG Sector Design of a Customer-Centric Balanced Scorecard Support for a Research on CRM Strategies of Romanian Companies from FMCG Sector MICU ADRIAN MICU ANGELA ELIZA CAPATINA ALEXANDRU NISTOR COSTEL Management-Marketing

More information

INTERNATIONAL JOURNAL OF MANAGEMENT RESEARCH AND REVIEW

INTERNATIONAL JOURNAL OF MANAGEMENT RESEARCH AND REVIEW ISSN-2249-7196 INTERNATIONAL JOURNAL OF MANAGEMENT RESEARCH AND REVIEW ABSTRACT Oct-2011/ Volume-1/Issue-3/Article No-14/121-128 CUSTOMER RELATIONSHIP MANAGEMENT Suresh Reddy Jakka* 1 1 Department of Business

More information

SAS CUSTOMER INTELLIGENCE. Solve more marketing challenges with a comprehensive enterprise solution

SAS CUSTOMER INTELLIGENCE. Solve more marketing challenges with a comprehensive enterprise solution SAS CUSTOMER INTELLIGENCE Solve more marketing challenges with a comprehensive enterprise solution Enable Smarter Decisions Throughout Your Marketing Process SAS analytics leads to deeper understanding

More information

Shaun Doyle Chairman

Shaun Doyle Chairman Delivering improved risk management, sales reporting, targeting and campaign management using SAS and Intrinsic software in Banking Shaun Doyle Chairman Content! Key business requirements that drove the

More information

Applied Business Intelligence. Iakovos Motakis, Ph.D. Director, DW & Decision Support Systems Intrasoft SA

Applied Business Intelligence. Iakovos Motakis, Ph.D. Director, DW & Decision Support Systems Intrasoft SA Applied Business Intelligence Iakovos Motakis, Ph.D. Director, DW & Decision Support Systems Intrasoft SA Agenda Business Drivers and Perspectives Technology & Analytical Applications Trends Challenges

More information

Measure the Value of Customer Experience Improvements

Measure the Value of Customer Experience Improvements WHITE PAPER Measure the Value of Customer Experience Improvements Customer Experience Value Analysis connects customer initiatives to tangible financial impact. A TeleTech Company Table of Contents Key

More information

DATA MINING TECHNIQUES FOR CRM

DATA MINING TECHNIQUES FOR CRM International Journal of Scientific & Engineering Research, Volume 4, Issue 4, April-2013 509 DATA MINING TECHNIQUES FOR CRM R.Senkamalavalli, Research Scholar, SCSVMV University, Enathur, Kanchipuram

More information

Relationship management is dead! Long live relationship management!

Relationship management is dead! Long live relationship management! XRM: From Fragmentation to Integration Executive Summary Relationship management is dead! Long live relationship management! But it s not just about customers anymore. The value chain has grown so long

More information

Motivating Employees to Embrace Integrated Marketing

Motivating Employees to Embrace Integrated Marketing Motivating Employees to Embrace Integrated Marketing A White Paper developed exclusively for based on results of the PMA/Northwestern University ROI of Integrated Marketing Research Project Research Results

More information

PLANNING FOR SUCCESS WITH CUSTOMER RELATIONSHIP MANAGEMENT SYSTEM (CRM) IMPLEMENTATIONS

PLANNING FOR SUCCESS WITH CUSTOMER RELATIONSHIP MANAGEMENT SYSTEM (CRM) IMPLEMENTATIONS PLANNING FOR SUCCESS WITH CUSTOMER RELATIONSHIP MAGEMENT SYSTEM (CRM) IMPLEMENTATIONS Mahesh S. Raisinghani, Associate Professor IS & Global, Texas Woman s University, School of Management, Denton, TX

More information

Interview Guide for Hiring Executive Directors. April 2008

Interview Guide for Hiring Executive Directors. April 2008 Interview Guide for Hiring Executive Directors April 2008 Introduction This interview guide has been developed to help the Board of Directors of Big Brothers Big Sisters agencies interview candidates for

More information

The authors provide the frameworks, analysis tools and route-maps to understand and action creating a marketdriven

The authors provide the frameworks, analysis tools and route-maps to understand and action creating a marketdriven : How to build and lead a market-driven organisation Malcolm McDonald, Martin Christopher, Simon Knox & Adrian Payne FT/Prentice Hall, 2001 ISBN: 0273642499, 206 pages Theme of the Book Marketing is too

More information

Customer Care for High Value Customers:

Customer Care for High Value Customers: Customer Care for High Value Customers: Key Strategies Srinivasan S.T. and Krishnan K.C. Abstract Communication Service Providers (CSPs) have started investing in emerging technologies as a result of commoditization

More information

Customer Relationship Management: Tool or Philosophy?

Customer Relationship Management: Tool or Philosophy? Customer Relationship Management: Tool or Philosophy? A system cannot understand itself. The transformation requires a view from outside. - W. Edward Deming CRM a general perspective: A successful CRM

More information

The Role of Customer Relationship Management System in Performance of New Enterprises (Case Study: Business Organizations)

The Role of Customer Relationship Management System in Performance of New Enterprises (Case Study: Business Organizations) J. Basic. Appl. Sci. Res., 2(1)386-391, 2012 2012, TextRoad Publication ISSN 2090-4304 Journal of Basic and Applied Scientific Research www.textroad.com The Role of Customer Relationship Management System

More information