Customer Relationship Management

June 2022 Examination

Q1. You work as a vice president of a telecom company. After number portability was
introduced a lot of your customers have left you and have taken the services of other
telecom firms. You are worried and so is your top management of the company. They have
given you a deadline, either to ‘reduce the customer churn’ or face consequences. This is a
major KPI (Key performance indicator) in your performance appraisal this year. How will
he proceed to build a loyalty program for his customers? (10 Marks)

Ans 1.

Introduction

Customer aid metrics and KPIs are beneficial because they screen how corporations have
interacted with their clients in the return of the scenes. You may also agree that the service being
furnished is high-satisfactory and high-quality. but, your clients also can additionally have a sole
opinion. "70% of clients say they select organizations that provide awesome customer support."

The general performance metrics provide you impartial numbers to degree the success of your
customer support. It's impossible to apprehend which succeeding and you want to enhance
without measuring. While introducing customer support metrics and key average performance
indicators (KPIs), have concrete records analytics to make higher choices and close gaps in the
three critical areas listed underneath. Customer service metrics and critical overall performance
signs (KPIs) determine how your group handles provider requests correctly.

Concept and analysis

As one of the crucial customer service metrics, purchaser satisfaction determines how happy
your clients are together and your carrier. The extra the delight rating, the extra the client lifetime
fee (CLTV).
Boost consumer retention

Measuring customer support gives facts on client delight tiers. Trying to align your services and
products with clients keeps them happy, and that they now do not best choice to live with the
corporation but also emerge as logo advocates.

Moreover, customers can abandon one's net web page in case their response time is not on time.
Clients are more likely to shop for even as producers reply to their questions beneath a minute, in
step with fifty-nine consistent with cent of them. Getting linked to an agent right away allows
beautifying the purchaser revel.

The usage of the method under Jeff Haden affords an excessive-satisfactory way to assess
consumer retention rate KPI:

Customer Retention Rate = ((CE – CN) / CS)) expanded through 100.

CE denotes the range of clients at the quit of the system, at the same time as CN denotes the
range of recent clients received at some point of the process.

Key performance indicators define the elements that need to be benchmarked and monitored via
the group. Assessment strategies provide a mechanism for measuring and comparing the
specified elements which will decide improvement or impact—KPIs outline what is measured. In
contrast, assessment strategies outline how and while it's far measured. A critical overall
performance indicator (KPI) is a metric used to define and determine a company's fulfillment. It
is commonly expressed in terms of development in the path of long-time period organizational
desires. KPI includes statistics at the sources, calculations, and definitions for every degree, in
addition to a timetable for month-to-month Records submission.

KPIs help a company outline and diploma of development inside the route of its goals and
objectives. After an organization has assessed its mission and described its goals, it ought to tune
its development inside the route of the one's targets.

KPIs help a company find out whether or now not or now no longer its miles are "at the tune" –
this is, whether or no longer or now no longer its miles are operating in the course of and
accomplishing advantageous very last effects or development. KPIs are frequently utilized in
tasks and to evaluate provider delivery.

There are as many KPIs as there are techniques to gather them. For instance, in a digital
document and statistics management (EDRM) challenge, KPIs are probably used for music
patron adoption because the machine is implemented. Some other instance will be to degree the
timeliness and slenderness of service shipping – in this example, KPIs might be used to ensure
that information offerings meet agreed-upon transport times for correspondence consistent with a
service degree agreement (SLA).

Before launching loyalty software, site visitors should decide your customers' modern degree of
delight through techniques and surveys, interviews, and consumer remark monitoring.

Then, find out employees who are well with customers and maybe to be had to take part
withinside this system. Users will want to intention customers who make everyday purchases
from themselves. But, they have the potential to be greater worthwhile, primarily based totally
on your analysis. This type of software usually is now not encouraged if the purchase cycle is
long (greater than three years).

Conclusion

Purchaser loyalty does now no longer come easily. Clients are inspired by their very own goals,
and they will be unswerving to the agency, which could assist them in accomplishing their only's
dreams. It makes no difference if they have an excellent report collectively together with your
logo; if a competitor makes a better offer, the purchaser will take delivery of it. The stairs
referred to below can help an enterprise stay ahead of the competition and build a dedicated
consumer base. The usage of more than one channel for customer service opens up the
opportunity of supplying an Omnichannel revel.

Q2. You have been called by your director at his office one evening for a cup of tea. Over
the discussion he mentions how difficult is it for him to:
• Manage the data of the past students and track them. He is losing track of them and this
is not good for the future of the college.

• Managing the admissions of the engineering and MBA College.

• The MBA School plans to expand in the distance education mode, for which a plan has to
be put in place, and it will be difficult for him to manage alone.

• He wants to automate some of the processes of fees payment, acknowledgement, and

attendance.

• Automate reporting to the top management.

The immediate thing that clicked on your mind is that if the college had CRM software it
would probably help. You need to explain him, how CRM projects work and what are the
considerations that he must keep in his mind. (10 Marks)

Ans 2.

Introduction
The enterprise panorama is turning into an increasing number of complicated, and client
behavior is converting at a fast pace. Clients want more custom-designed studies than ever
before, so tasks have become more multifaceted and related to a couple of groups. A stable CRM
method has in no manner been more critical. And the leading agile companies, the ones which
can innovate, consolidate, and adapt, will benefit from an advantage.

As businesses increase and the artwork surroundings of a present-day global enterprise evolve,
its miles essential that organizations put into impact solutions that consolidate company
techniques. Enhancing the customer's enjoyment is essential—all of our advantages from
tightening up and simplifying enterprise strategies. Clients' desires are met more tremendously
speedy, and corporations are more powerful and happier. Maintaining powerful project control
practices and preserving high-quality consumer relationships should go hand in hand.

Concept and analysis

Somewhat, the handiest 64% say all in their statistics is currently connected. A CRM task
manipulates a platform that combines associated areas and assists corporations in retaining
statistics of several types unified.

Some businesses separate their CRM and project management answers. They regularly rent a
whole lot of devices. 78% of growing SMBs use a couple of apps to run their operations. Having
stated that, combining CRM and project manipulation on a single platform could have many
benefits. The following are a number of the benefits of imposing a CRM assignment control
solution:

Consumer studies may be regular, and enriching

System consolidation

Publish-sale mission management is simplified.

Move-departmental coordination

Being consumer-centric is essential for business enterprise retention and increase. Focusing on
clients includes ensuring their satisfaction. While customers are happy, they become dependable.
Keeping a fulfilling customer dating starts off evolved with a complicated CRM platform.

Businesses are aware that 42 step with a cent of small and medium-sized groups rank patron
courting manipulate as pinnacle precedence. Peculiarly, managing consumer expectations and
responding rapidly to their troubles requires associated with the right people. And doing so
seamlessly necessitates the development of a task control answer on one CRM platform.

Method consolidation effects in a good deal less muddle and extended productiveness.
Employees waste a great deal less time switching programmers while they may carry out
multiple duties in a single region. Furthermore, having every CRM and assignment control on an
equal platform saves time and strength to acquire employees with more than one structure. Now
not to say the cash it takes to have a license for a couple of gadgets. Consolidation has the
potential to enhance productivity in addition to employee and purchaser satisfaction. After a sale
is finished, the customer does now not interact with the profits team; however, with unique
applicable corporations and departments inside the organization. A CRM and task control
solution that works in tandem smooth the transition from prospect to paying patron. The right
CRM is designed to control statistics effectively in a couple of consumer profiles at the same
time and present you with the self-notion to engage with each in an organized and professional
manner. When choosing a CRM (purchaser relationship management), preserve the notion that
it's miles the maximum critical tool within the profits team's arsenal, permitting them to assemble
and keep long-time period relationships with contacts and clients.

Patron control permits organizations to win more excellent offers, generate more fantastic leads,
and trendy boom income. When a commercial enterprise organization selects to spend money on
a CRM device, it has to make sure it is the right one for its goals. At the same time as selecting a
CRM, it's far best to do now not to forget whether or not it's miles an excellent wholesome for
each day enterprise operations.

The consumer's comfort is a given requirement with any product, and CRM systems aren't any
exception. Aside from being accessible throughout more than one structure, the suitable CRM
has to be cloud-friendly, allowing you to get admission everywhere and on every occasion you
need it, and characteristic low overhead expenses compared to on-premise solutions. Other than
the smartphone, desktop, and any clever tool, the leading famous CRM corporations allow access
to the cloud simultaneously as wanted.

Conclusion

A bendy CRM mission management answer is crucial. It may meet your several necessities. The
particular device is agile and sturdy. While looking for a fantastic CRM undertaking control
platform for your business company, search for adaptability. The project control device must be
smooth to use. not the most effective, but it must be adequately proper with any contemporary
techniques moreover have got in region. One must be able to maintain ease of use if you use an
answer that can be customized. A CRM assignment control solution isn't very beneficial if
corporations and personnel are not notified while an applicable mission calls for their interest.
Q3. Shoaib has started his business about a decade ago and has been doing extremely well.
Although he was one of the pioneers in the organised retail space, he is today facing a big
issue with ‘loyalty of customers. He is planning to go online.

a. How can he build traffic to his website? (5 Marks)

b. How can he meet the expectations of his online customers? (5 Marks)

Ans 3a.

Introduction
To create content material to trap the right site visitors to at least one internet site, one must first
understand the consumer character one's aiming for. Once one is aware of one goal market, you
will create content cloth to entice them to go to one net site.

Concept and analysis

Organic social media isn't always a brand new approach. But, it's miles one which marketers
have to take heeds of. In addition to posting on social media structures, clients can use Instagram
stories (hey, swipe up characteristic!), stay video, IGTV, or FB Messenger. Being an early
adopter of recent functions is critical in herbal social media.

For example, Facebook Messenger now has an automatic lead technology feature that lets
companies create an automatic chatbot experience inside Messenger that hyperlinks to the
content cloth provided on one net page. That is an excellent feature for visitors' usage to as a
minimum one internet web page. In phrases of natural social media, Henry Franco, a logo
marketing accomplice, shows matters." First and main, do not junk mail one target market — it
expenses a person no longer something to scroll beyond your post, and in case you do not
provide them with any value, it's miles precisely what they'll do. Apprehend a single target
market and create a content cloth that speaks right away to them, "according to Franco.

"2nd, live concerned in community control. humans respect it while manufacturers like and
reply to them — it humanizes an organization and keeps them coming lower back for extra
content fabric."
"First and primary, do no longer direct mail one target market — it charges someone no longer
whatever to scroll past your submit, and in case you do now not provide them with any price, it's
miles precisely what they'll do. Apprehend a single target goal marketplace and create a content
cloth that speaks without delay to them, "according to Franco.

"2d, stay concerned in network control. people admire it while manufacturers like and respond
to them — it humanizes an agency and keeps them coming lower back for extra content
material." the usage of contemporary readers and customers to force traffic on your internet site
is an excellent manner to start.

Conclusion

The extra one's emblem recognition, the more excellent visitors' website online site visitors will
pressure 1's internet web site. Visitors can begin imposing an engagement approach right now
using turning into a member of Facebook organization discussions in a single enterprise,
answering questions about public discussion board websites, and interacting with a person's
social media fans.

Ans 3b.

Introduction

Ultimately, the fulfillment is decided with the aid of how glad one's clients are with the goods
and services furnished. However, many businesses seem to trust that anything they offer will
meet the expectations of their purpose audiences. This is almost by no means the case.

Concept and analysis

The first step in meeting consumer expectations is, without a doubt figuring out who ones target
market is. And this necessitates going past fundamental demographic data consisting of age,
gender, and place. Of direction, statistics may be beneficial in developing advertising personas.
To apprehend your clients, however, clients must delve deeper and discover their needs and
pursuits, in addition to the elements that impact their shopping choices. And ones current client
base is one's notable supply for acquiring those records. Please inquire with your clients
approximately what drew them to one's product and why they selected it over distinctive options
in the market.

Once one's decided who a person's most precious target market is and what they're searching for,
one should aim to locate new methods to meet their wishes better continuously. in any case;
customers should in no way count on the target market to regulate their expectancies to house
one's product. As an alternative, clients ought to be inclined to regulate one's product to fulfill
their needs.

Persevering with the account software program example, anticipate we have decided that
enhancing performance and saving time are the top priorities for one mid-length industrial
organization client. While figuring out which new functions to feature in a single product,
maintain those objectives in mind — now, not what one's opposition is doing or what one's
organization thinks is probably thrilling to create.

One of the maximum essential factors within the assembly of patron expectations is whether or
not customers take some time to assist them in placing accurate expectations withinside the first
vicinity.

Some corporations make it their sole purpose to generate a sale at the start of every purchaser's
interaction with their logo. While the motive for this recognition is smooth, it is not an excellent
manner to prepare one's clients for success.

Conclusion

It isn't always generally smooth to fulfill the expectancies of clients. It's now not possible.
However, it's also now not possible. Get to apprehend the target market, verify that they may be
the right target market for your logo, and examine everything you can about their needs and
goals.