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09-02-2010, 08:28 PM
Post: #1
customer relationship management system


.doc  Customer relationship management CRMS.doc (Size: 25 KB / Downloads: 289)

ABSTRACT

Customer relationship management (CRM) is a term applied to processes implemented by a company to handle its contact with its customers. CRM software is used to support these processes, storing information on current and prospective customers. Information in the system can be accessed and entered by employees in different departments, such as sales, marketing, customer service, training, professional development, performance management, human resource management and compensation. Details on any customer contacts can also be stored in the system. The rationale behind this approach is to improve services provided directly to customers and to use the information in the system for targeted marketing and sales purposes.
This project is for one of the major manufacturing company. They manufacture UPSs (Uninterrupted Power Supply Machines) and Inverters for both home and office use.
The company already has an automated system for Manufacturing, Costing, Production, and Sales. The complete details about their customers and details about the product sold to those customers are being maintained in the company's database.

Now the company requires an extension to their existing system, in order to automate their Customer Service part.
Customer Relationship Management is not just about how a company communicates with its customers through advertising, direct marketing and customer services. It is a much broader commitment to organize a company around its customers in order to anticipate individual needs whilst providing the organizational structure to deliver on the marketing promise.
04-10-2010, 12:20 PM
Post: #2
RE: customer relationship management system

.pptx  CRM Ppt.pptx (Size: 91.33 KB / Downloads: 182)

: CUSTOMER RELATIONSHIP MANAGEMENT(CRM)


Presented by: Sumit Kumar Singh
MCA 2nd Sem (2kl09mca24)



Definition: CRM
CRM is a comprehenssive set of processes and technologies for managing the relationships with potential and current customers across the business functions.
15-10-2010, 10:48 AM
Post: #3
RE: customer relationship management system

.pptx  CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING INDUSTRY.pptx (Size: 5.06 MB / Downloads: 184)
This article is presented by:
REECE D’SOUZA
SYLVESTER FERNANDES
LEON D’SILVA
KEVIN PIRES
LEON MENEZES
HENRICH KINNY
VALENTINA D’COSTA
EMMANUEL SAVIO
ANDREY THOMAS
CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING INDUSTRY



INTRODUCTION

The Banking Industry was once a simple and reliable business that took deposits from investors at a lower interest rate and loaned it out to borrowers at a higher rate.
The Banking Industry at its core provides access to credit. In the lenders case, this includes access to their own savings and investments, and interest payments on those amounts. In the case of borrowers, it includes access to loans for the creditworthy, at a competitive interest rate.
PRODUCTS AND SERVICES

DEPOSITS
LOANS
CARDS
INVESTMENTS
INSURANCE
NRI SERVICES
DIFFERENT CHANNELS FOR ACCESS SERVICES

BANK BRANCHES

ATM NETWORKS

PHONE BANKING

INTERNET BANKING
IMPORTANCE OF INTERNET BANKING

BILL PAYMENTS

MOBILE BANKING

INSTA BANKING

CALL CENTRE
CRM APPROACHES

GETTING PERSONALISED INFO ON CUSTOMERS.
WHAT IS THE VALUE OF THE RELATIONS.
CUSTOMISED OFFERINGS TO THE CUSTOMERS.
CONVERTING A PROSPECTIVE CUSTOMER INTO A TRUE CUSTOMER.
28-10-2010, 03:54 PM
Post: #4
RE: customer relationship management system
Customer Relationship Management

A BRIEF HISTORY

1990s: Relationship Marketing
– Major phenomenon: Loyalty programs.
– Major promise: Loyalty!
– Major result:
Companies such as airlines now have an
enormous incremental layer of expenses,
without much to show for it

Early 2000's: Customer Relationship Management

– Major phenomenon: Great promise
– Major reality: Promise unattained.


Attached File(s)
.ppt  CRM Intro.ppt (Size: 1.53 MB / Downloads: 203)
01-03-2011, 11:22 AM
Post: #5
RE: customer relationship management system

.docx  CUSTOMER RELATIONSHIP MANAGEMENT.docx (Size: 335.35 KB / Downloads: 164)
CUSTOMER RELATIONSHIP MANAGEMENT
INTRODUCTION

The biggest management challenge in the new millennium of liberalization and globalization for a business is to serve and maintain good relationship with the king – the customer. In the past producers took their customers for granted, because at that time the customers were not demanding nor had alternative source of supply or suppliers. But today there is a radical transformation. The changing business environment is characterized by economic liberalization, increasing competition, high consumer choice, demanding customer, more emphasis on quality and value of purchase etc.
All these changes have made today’s producer shift from traditional marketing to modern marketing. Modern marketing calls for more than developing a product, pricing it, promoting it and making it accessible to target customer. It demands building trust, a binding force and value added relationship with the customers.
The process of developing a cooperative and collaborative relationship between the buyer and seller is called customer relationship management shortly called CRM. According to Ashoka dutt head of Citi Bank “the idea of CRM is to know the individual customer intimately, so that the company has a customized product ready for him even before he asks for it.”
AIMS OF CRM
The CRM is a new technique in marketing where the marketer tries to develop long term relationship with the customers to develop them as life time customers. CRM aims to make the customer climb up the ladder of loyalty.
The company first tries to determine who are likely prospects i.e. the people who have a strong potential interest in the product and ability to pay for it The company hopes to convert many of its qualified prospect into first time customers and then to convert those first time customers into repeat customers. Then the company tries to convert these repeat customers into clients – they are those people who buy only from the company in the relevant product categories. The next challenge for the company is to convert these clients into advocates. Advocates are those clients who praise the company and encourage others to buy from it.
The ultimate challenge is to convert these advocates into partners where the customers and the clients work actively together to discover ways of getting mutual benefit.
Thus in CRM the key performance figure is not just current market share but share of life time value by converting customers into partners.
In CRM the company tries to identify that small percentage (20%) of key account holders who’s contribution to the company revenues is high (80%). So from this point of view, CRM is also known as KEY ACCOUNT MANAGEMENT.
WHY – CUSTOMER RELATIONSHIP MANAGEMENT
Ø A satisfied customer in 10 years will bring 100 more customers to the company.
Ø It costs 7 times more to attract a new customer than to serve an old one.
Ø 20% of the company’s loyal customer’s account for 80% of its revenues. (Pareto’s principle)
Ø The chances of selling to an existing customer are 1 in 2, the chances of selling to a new customer are 1 in 16
HOW TO INTRODUCE CRM IN THE COMPANY
There are four key steps for putting one to one marketing program to work –
Step 1: Identify your customers
To launch a one to one initiative the company must be able to locate and contact a fair number of customers or at least a substantial portion of its valuable customers. It is crucial to know the customer details as much as possible, not just their names or address, but their habits, preferences and so forth.
Step 2: Differentiating your customers
Customers are different in two principal ways, they represent different levels of value and have different needs. Once the company identifies its customers differentiating them will help the company to focus its efforts to gain the most advantage with the most valuable customers.
Step 3: Interacting with the customer
Interaction is also a crucial component of a successful CRM initiative. It is important to remember that interaction just not occur through marketing and sales channels, customer interact in many different ways with many different areas of the organization so to foster relationship all the areas of the organization must be accessible to the customer.
Step 4: Customize your enterprise’s behavior
Ultimately to lock a customer into a relationship a company must adapt some aspect of its behavior to meet customer’s individually expressed needs this might mean mass customizing a manufactured product or it might involve tailoring some aspect of the service surrounding the product.
03-03-2011, 09:43 AM
Post: #6
RE: customer relationship management system
PRESENTED BY:
Heena Barot
Pooja Jaiswal
Fauzia Shaikh


.ppt  CRM PROJECT.ppt (Size: 285.5 KB / Downloads: 112)
INTRODUCTION
Customer Relationship Management entails all aspects of interaction a company has with its customer, whether it is sales or service related; it starts with the foundation of relationship marketing. CRM is a systematic approach towards using information and on going dialogue to built long lasting mutually beneficial customer relationship.
Due to CRM companis are growing to a great extend
CRM Features & Function in Banking?
1. CRM AS A BANKING STRATEGY
2. PAST RECTIFIES PRESENT
3. THE D4 BANKING ANALYSIS
• Strategy
• People
• Technology
• Process
Is a design of CRM Strategy
Refer Figure
1. What is CRM and Customer focus?
WHAT IS CRM?

• A Strategy,
• A Process,
• A Software,
• A Philosophy,
• A Project,
• A Programmer,
• A Buzzword,
• A Call center Support
2. Procedure for implementation of Function?
The nine truth of Relationship in Banking and Marketing
1. Customer are no longer loyal.
2. Customers do not really want a relationship but companies do.
3. Customers want information.
4. Customers not only want to be thanked for their patronage, they expect it.
5. Customers controls their selling process.
6. The life time value of customer is not relevant.
7. Do not over complete the programme.
8. Keep reporting smile and focused on the customer.
9. What if? Ask it often. Experiment every chance you get and don’t call it testing.
Basic customer expectations”
Top 6 Reasons of CRM Failure

1. The CRM project is viewed as a technology project.
2. The CRM project is implemented without an overall strategy & roadmap.
3. The CRM project is implemented in one “big bang” approach.
4. The CRM projects failed to address the human factors of the customers and staff.
5. The CRM project failed to address the operational gaps between strategy and implementation.
6. Data Quality, Availability and integration Issues.
CONCLUSION
The wealthier the CRM or customer, the more demanding they are – and the clients expect more and more from their banks. Competition for the “Supremely Elite” is increasing.
31-03-2011, 09:40 AM
Post: #7
RE: customer relationship management system
SUBMITTED BY:
ITISHA KOTHIYAL


.docx  CRM (1).docx (Size: 17.44 KB / Downloads: 62)
Improving Customer Relations Management in Utilities Through the Use of the Internet
Abstract

The success of any business depends on customer satisfaction. This is particularly true in today’s competitive, deregulated electric utility environment. Since customers have many service choices, the electric utility that better serves its customers will be the electric utility that better retains its customers.
Customer service and customer satisfaction are no longer the sole responsibility of a single department. Managing customer relations is a function of every employee at a customer-centric utility. In order to successfully and consistently manage customer relations, accurate and timely information must be available to every employee in the enterprise. What better media for disseminating information enterprise-wide than the corporate intranet or the Internet.
This paper presents how Internet-based applications can be used to improve customer relations within the electric utility business. Emphasis will be placed on geospatially-enhanced customer relations management (CRM) systems.
Introduction to Customer Relations Management Systems
The electric utility business has always been a service-oriented industry, but in a deregulated market, maintaining customer loyalty and satisfaction has become critical. As the focus shifts to a more customer-centric environment, new technologies must be introduced to keep pace1. Communication technologies must deliver and distribute critical information in a timely fashion. The Internet has emerged as a viable business tool for internal and customer-facing communications.
A customer relations management system can be defined in a variety of ways, but typically it is a system that automates some portion of the front-office customer communication channel to the back-office operational applications. The best-of-breed CRM systems integrate the back- and front-office applications. The ultimate goal is a holistic integration of all corporate information technologies, including all systems that handle company’s interactions with customers (billing, customer service, field service, and marketing systems) as well operational support systems (outage management, work order management, customer information, spatial information, and network management information systems). The integration of front-office customer contact systems and back-office operational support systems has its own term: "Enterprise Relationship Management".
The key to understanding and managing customer relations is the proper integration of a wide variety of data sources. For an electric utility, a successful CRM integration strategy would include not only the traditional CRM systems, such as customer information, bill processing, call center technology, and marketing systems, but would also include facility management, work management, and outage management systems. The definition of a utility CRM system is based on a large continuum of requirements, such as2:
To be able to quickly access integrated customer, outage, facility, and service request/complaint data from numerous legacy systems.
To display a geospatial snapshot of customer service related data out, with quick identification of critical care and key commercial customers.
To Closely monitor outage data for day-to-day operations as well as emergency situations.
To track customer complaints and resolution status, including information on complaints that escalate to PUC status.
To track performance on meeting commitment dates for new service, meter-reading, service turn-ons/turn-offs, equipment testing, and other customer appointments.
To monitor "customer-call" metrics, including average number of seconds required to answer incoming calls, percentage of customers who get a busy signal, etc.
To report safety metrics, including the number of lost-time accidents and durations of the resulting lost time.
In summary, an electric utility’s CRM system needs to be able to provide industry-specific reporting capabilities that keep the organization informed, responsive, and customer-focused.
To accomplish this, an electric utility’s CRM system needs to integrate much critical information into one system. As described above, the key to a successful CRM system is integrating back-office operational support systems with customer-facing front-office applications. Clearly, at a minimum, the system must be able to link together standard customer information, such as account information and billing information, with other types of information. But for an electric utility, it is also desirable to link outage information and customer complaints/inquiries (both present and historical), and customer information to work orders and open jobs. Integrating this information and displaying it on the desktop in a geospatial format would be even more valuable to an electric utility.
The Thin Client Paradigm
As web-based technologies have matured and their usage has grown exponentially, an information technology paradigm shift has occurred. Web-enabled systems provide the potential for an increased number of users, which implies a more widespread use of information. These systems also promise reduced costs by decreasing the time to develop, deploy, and maintain web-based applications. Web-based systems, by their very nature, are client/server architectures, but unlike the traditional client/server system, they can support a large array of client platforms with minimum amount of software loaded on the client. This is the "thin client" concept.
The traditional client/server architecture (sometimes referred to as "fat client") is a distributed computing architecture. This type of application optimizes the distribution of computing resources by having the developer of the system determine how the computing resources are to be utilized. Client/server applications are designed to make optimal use of the computing power of the clients. The requirement of client-side software provides the client enhanced functionality, and user interfaces, as well as improved performance for operations that take place locally on the client.
A good example where traditional client/server applications have had a significant performance impact is with geographical information systems3. With a client/server AM/FM/GIS application, the server stores all graphical information and the client requests a particular set of vector graphic data, such as a facility map, from the server. Once the client side receives the set of vector graphics, all processing takes place via the client side software. Client side resources handle manipulations such as zooming and panning, reducing or removing the need to retransmit requests/data back and forth to the server.
The drawbacks of fat client architecture include increased costs since software requirements are needed on both the client and server machines. Fat client applications are also typically not client platform independent. To make the applications client platform independent requires either specific communication protocols between platform-to-platform or redeveloping the client software for hardware/operating system architectures or both; substantially increasing the costs to make them platform independent.
23-04-2011, 11:03 AM
Post: #8
RE: customer relationship management system

.ppt  CRMday8.ppt (Size: 592 KB / Downloads: 231)
Customer Relationship Management (CRM)
ProMISe FOLIO course
What is CRM?
CRM “is a business strategy that aims to understand, anticipate and manage the needs of an organisation’s current and potential customers” (1).
It is a “comprehensive approach which provides seamless integration of every area of business that touches the customer- namely marketing, sales, customer services and field support through the integration of people, process and technology” (1)
CRM is a shift from traditional marketing as it focuses on the retention of customers in addition to the acquisition of new customers (2)
“The expression Customer Relationship Management (CRM) is becoming standard terminology, replacing what is widely perceived to be a misleadingly narrow term, relationship marketing (RM)” (3).
Definition of CRM
“CRM is concerned with the creation, development and enhancement of individualised customer relationships with carefully targeted customers and customer groups resulting in maximizing their total customer life-time value” (2).
The purpose of CRM
“The focus [of CRM] is on creating value for the customer and the company over the longer term” (3).
When customers value the customer service that they receive from suppliers, they are less likely to look to alternative suppliers for their needs (3).
CRM enables organisations to gain ‘competitive advantage’ over competitors that supply similar products or services (1)
Why is CRM important?
“Today’s businesses compete with multi-product offerings created and delivered by networks, alliances and partnerships of many kinds. Both retaining customers and building relationships with other value-adding allies is critical to corporate performance” (3).
“The adoption of C.R.M. is being fuelled by a recognition that long-term relationships with customers are one of the most important assets of an organisation” (2)
Why did CRM develop?
CRM developed for a number of reasons:
The 1980’s onwards saw rapid shifts in business that changed customer power (4)
Supply exceeded demands for most products (4)
Sellers had little pricing power (4)
The only protection available to suppliers of goods and services was in their relationships with customers (4)
What does CRM involve?
CRM involves the following (4):
Organisations must become customer focused
Organisations must be prepared to adapt so that it take customer needs into account and delivers them
Market research must be undertaken to assess customer needs and satisfaction
“Strategically significant customers”
“Customer relationship management focuses on strategically significant markets. Not all customers are equally important” (3).
Therefore, relationships should be built with customers that are likely to provide value for services
Building relationships with customers that will provide little value could result in a loss of time, staff and financial resources
Markers of strategically significant customers
Strategically significant customers need to satisfy at least one of three conditions (3):
Customers with high life-time values (i.e. customers that will repeatedly use the service in the long-term e.g. Nurses in a hospital library)
Customers who serve as benchmarks for other customers e.g. In a hospital library consultants who teach on academic courses
Customers who inspire change in the supplier
Information Technology and CRM
Technology plays a pivotal role in CRM (2).
Technological approaches involving the use of databases, data mining and one-to-one marketing can assist organisations to increase customer value and their own profitability (2)
This type of technology can be used to keep a record of customers names and contact details in addition to their history of buying products or using services (2)
This information can be used to target customers in a personalised way and offer them services to meet their specific needs (2)
This personalised communication provides value for the customer and increases customers loyalty to the provider (2)
Information Technology and CRM: Examples
Here are examples of how technology can be used to create personalised services to increase loyalty in customers:
Phone calls, emails, mobile phone text messages, or WAP services (2):
Having access to customers contact details and their service or purchase preferences through databases etc can enable organisations to alert customers to new, similar or alternative services or products
- Illustration: When tickets are purchased online via Lastminute.com, the website retains the customers details and their purchase history. The website regularly send emails to previous customers to inform them of similar upcoming events or special discounts. This helps to ensure that customers will continue to purchase tickets from Lastminute.com in the future.
Information Technology and CRM: Examples
Cookies

“A “cookie” is a parcel of text sent by a server to a web browser and then sent back unchanged by the browser each time it accesses that server. HTTP cookies are used for authenticating, tracking, and maintaining specific information about users, such as site preferences and the contents of their electronic shopping carts” (5).
Illustration: The online store, Amazon, uses “cookies” to provide a personalised service for its customers. Amazon requires customers to register with the service when they purchase items. When registered customers log in to Amazon at a later time, they are ‘greeted’ with a welcome message which uses their name (for e.g. “Hello John”). In addition, their previous purchases are highlighted and a list of similar items that the customer may wish to purchase are also highlighted.
Information Technology and CRM: Examples
Loyalty cards

“the primary role of a retailer loyalty card is to gather data about customers. This in turn leads to customer comprehension and cost insights (e.g. customer retention rates at different spending levels, response rates to offers, new customer conversion rates, and where money is being wasted on circulars), followed by appropriate marketing action and follow-up analysis” (6)
- Illustration: The supermarket chain, Tescos, offers loyalty cards to its customers. When customers use the loyalty cards during pay transactions for goods, details of the purchases are stored in a database which enables Tescos to keep track of all the purchases that their customers make. At regular intervals, Tescos sends its customers money saving coupons by post for the products that the customers have bought in the past. The aim of this is to encourage customers to continually return to Tescos to do their shopping
CRM software- “Front office” solutions
- “Many call centres use CRM software to store all of their customer's details. When a customer calls, the system can be used to retrieve and store information relevant to the customer. By serving the customer quickly and efficiently, and also keeping all information on a customer in one place, a company aims to make cost savings, and also encourage new customers” (7)
Face-to-face CRM
CRM can also be carried out in face-to-face interactions without the use of technology
Staff members often remember the names and favourite services/products of regular customers and use this information to create a personalised service for them.
For example, in a hospital library you will know the name of nurses that come in often and probably remember the area that they work in.
However, face-to-face CRM could prove less useful when organisations have a large number of customers as it would be more difficult to remember details about each of them.
Benefits of CRM
Benefits of CRM include (8):
reduced costs, because the right things are being done (ie., effective and efficient operation)
increased customer satisfaction, because they are getting exactly what they want (ie. meeting and exceeding expectations)
ensuring that the focus of the organisation is external
growth in numbers of customers
maximisation of opportunities (eg. increased services, referrals, etc.)
increased access to a source of market and competitor information
highlighting poor operational processes
long term profitability and sustainability
Implementing CRM
When introducing or developing CRM, a strategic review of the organisation’s current position should be undertaken (2)
Organisations need to address four issues (2):
What is our core business and how will it evolve in the future?
What form of CRM is appropriate for our business now and in the future?
What IT infrastructure do we have and what do we need to support the future organisation needs?
What vendors and partners do we need to choose?
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