Customer Relationship

Management
• CRM aims at establishing, maintaining,
enhancing and retaining valued
customers by developing a long-term
relationship and providing a real-time
customer centric relationship and
customer service
 Perspective of CRM

• Objective of CRM is to improve customer

loyalty and company's profitability
• Application of CRM is to utilize
Information and Communication
Technologies (ICT) in both traditional
and electronic environments
 Sustaining Customer
Relationship
• Pursuing continuity and growth with
customer firms
• Building trust and commitment
• Long-term collaborative relationship
• Fulfilling mutually agreed upon
requirements
• Promote honest and open communication
CRM Applications

• Sales-force Automation and Sales

Management
• Customer Service and Support
• Marketing Function
 CRM Development
• First Stage:
– Improve sales management and customer
service
• Second Stage:
– Integrate marketing activities
– Increase customer retention
– Reduce cost
• Third Stage
– Integrate entire organization
– Improve profitability
CRM and CLV

• CLV is the summation of profit

contributions over time periods
– Discounted
– Adjusted for varying market costs
Benefits of CRM

• Unified Customer Database

• Retaining customers
• Acquiring customers
– Based on their value-add
requirements
Methods Used to Influence
Business Customers
• Sales Presentations
• Negotiations
– Distributive
– Integrative
Few CRM Applications

• Mysap CRM
• Onyx V 6.0
• PeopleSoft
• Pivotal
• Siebel
• TibcoProcess RM
Beyond CRM

• Dealing with Customer's Customer