CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
Is enterprise - wide effort to acquire and retain customers.
-achieve customer intimacy, enabled by information technology
Diverse interactions organization have with customers.
Telephone contact, Direct mailing, Physical interaction
E-Mail, Websites, Communication via Smart Phones
OPERATIONAL CUSTOMER RELATIONSHIP MANAGEMENT
-Component of CRM the support front office business processes- Direct Interact with customers - Sales , Marketing, and Services
Two Components of OCRM:
Customer Facing Applications
Customer Touching Applications
CUSTOMER - FACING APPLICATIONS
When organizations employee interact directly with customer
CUSTOMER SERVICE- Systems that automate service requests.
SALES FORCE- automatically record all transaction process. ( contact management, sales lead tracking, system, sales forecasting systems)
MARKETING- enables marketer to identify and target best customers, manage marketing campaign. complete data mining for additional sales via CROSS SELLING, UP SELLING, AND BUNDLING.
CAMPAIGN MANAGEMENT - help organization to sent msg to right ppl through right channels
CUSTOMER- TOUCHING APPLICATIONS
Customer interact directly with technologies and applications. Also called E- CRM
Search and Comparison Capabilities
Technical and other info. and services
Customized Products and Services
E-mail and automated response/ Loyalty programs
Systems analyze customer behavior and perceptions to provide actionable business intelligence
ANALYTICAL CRM DATA USED FOR WHAT PURPOSE?
Designing and executing targeted marketing campaign
Increasing customer acquisition , cross selling/ up selling
Providing input into decisions relating to product/ service
Providing financial forecasting and customer profitability analysis
CRM System that is hosted by an external vendor in the vendor's data center.
-Spares the costs associated with purchasing the systems
-Vendor creates and maintains the system, employee only need to how to access and use it.
Vendor can be unreliable = no CRM
Hosted software difficult to modify, only vendor can upgrade it
Difficult to integrate vendor-hosted CRM software with company's current software
Giving strategic customer data to vedor carries risk.
System that enables an organization to conduct communication related to sales, marketing, and customer services.
Create a personalized customer relationship that may be accessed anywhere and at any time.
- CRM Software whose source code is available to developers and users
Favorable pricing, wide range of variety, very easy to customize
Quality control, company must have same into tech platform on which the open-source CRM was developed