- CRM enables an organization to:
* Provide better customer service
* 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.
Recency, Frequency and Monetary Value
- Organizations can find their most valuable customers through "RFM"-
* Frequency - How frequency a customer purchased items
* Monetary value - How much a customer spends on each purchase.
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.
- Three phases in the evolution of CRM include reporting, analyzing, and predicting.
The Ugly Side of CRM
Customer Relationship Management's Explosive Growth
- CRM Business Drivers
Using Analytical CRM to Enhance Decisions
> 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.
- The primary difference between the two is the direct interaction between the organization and its customer.
- Operational CRM and analytical CRM
Customer Relationship Management Success Factors
- CRM success factors include:
* Define information needs and flows
* Build an integrated view of the customer
* Implement in iterations
* Scalability for organizational growth.
0 comments:
Post a Comment