Professional Documents
Culture Documents
CRM Applications
CRM Applications
FMG-23A
FORE School Of Management
Introduction
Customer Relationship Management (CRM) is a system
Characteristics
CRM (Customer Relationship Management) typically include the
following characteristics:
Relationship Management Its a customer oriented feature
with responses based on customer input, direct online
communication with customer etc.
Sales Force Automation It implement sales promotion
spend on each phase. It not only track and record every stage in the
selling cycle, but also provide you with insights into business
opportunities, selling territories, revenue forecasts etc.
Benefits of CRM
Decrease cost of customer acquisition. It enables companies to
correctly identify their target audience and to focus all of the
marketing efforts on that particular group of people.
Increase sales. Analyzes current customer service practices and can
be used to pinpoint shortcomings and areas that need improvement.
Data security. Not only does a CRM manage data but it allows us to
control who has access to certain data and features.
Taking example of B2B market Due to customer relationship, a network can be established and extended. Extension
causes the network not to increase benefits linearly, but in an exponential way. Hence,
these networks can be used to increase the amount of available information for each
company. This may lead to more information about a customer which can be used to
make the way of handling the customer easier in the future. The history of previous sales
from this customer may be a great relief.
This encourages companies to join the B2B network by using CRM.
Salesforce- allows the company to automatically track all the web activity
generated from marketing.
BPMonline CRM- to improve campaign response, close deals, and satisfy
customers.
AmoCRM- AmoCRM's software assists the manager, sales team and sales
CRM market grew by 13.7 percent in 2013, three times the average of all enterprise
software categories.
CRM in IndiaCRM market in India is extremely nascent with a total market size of USD 1618 million.
The CRM enabled companies in India includes Tata Telecom, TVS
Electronics, HP India, Tata Infotech, Tata Teleservices and Planet M among
many others.
Other service sectors like Banking (ICICI Bank) and Insurance are also
deploying CRM solutions.
Though Tier-I cities has a significant share, Tier-II cities are now emerging as
the destinations for CRM providers to sell CRM solutions.
End Result1.)Customer centric approach of ICICI Bank helped it to gain number 2 position in
India for banking service.
2.)Implemented CRM not as a tool but strategy for competitive advantage.
Key Issue- CCE discovered its field sales representatives were spending too much
time on administrative tasks rather than spending time with the customers and
selling their products.
Action Taken-CCE implemented Salesforce across multiple geographies and
multiple business functions; from the call center agent to the service technician and
the sales representative.
Result-They reduced the time it takes to on-board a new customer by around 60%
and decreased the administration overhead for service technicians by almost 50%,
which means they can respond to more customer requests in the same timeframe.
Increasing Trend
CR philosophy and strategy has shifted to encompass
Some Examples
Public utility would know exactly about the energy need of
CRM Paradox
Favouritism and differential treatment of customers
pricing.
QnA
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