Customer Relationship Management: Summary
Definition CRM
CRM is a core business strategy that integrates internal processes and functions, and external networks, to create and deliver value to targeted customers at a profit grounded on high-quality customer-related data and enabled by information technology (book)
Types of CRM
Strategic CRM: customer-centric business strategy
Dedicated to winning and keeping customers by creating and developing better value than competitors.Product oriented: customer choose products with best quality, performance, design etcProduction oriented: low price products
Sales oriented: customers are persuaded by advertisement and sales promotions
Customer – market oriented: uses customer and competitive information to develop better value propositions. – is a learning firm that constantly adapts to customer requirements and competitive conditions.
Operational CRM: automation of customer-facing processes
Automates and improves customer facing and customer supporting business processes.
Market automation: applies technology to marketing purposes.
Sales force automation: applies the technology to the management of a company´s selling activities (provides a standardized view of the sales cycle and a common language for discussion of sales issues).
Service automation: allows companies to manage their service operations: call centres, contact centre’s, web or face-to-face.
Enables efficiency of users
Reducing service costs
Partner relationship management: Allows partners to communicate with suppliers through a portal to: manage leads, sales orders, information, incentives
Analythical CRM: intelligent mining of customer-related data
Focuses on the intelligent mining of customer-related data for strategic or tactical purposes.Build on the foundation of customer related information
Essential part of CRM implementations
Helps makes decisions like:
Which customer to target
Focus of sales effort
Relative priority for customers and what level of service to offer.
CRM is a core business strategy that integrates internal processes and functions, and external networks, to create and deliver value to targeted customers at a profit grounded on high-quality customer-related data and enabled by information technology (book)
Types of CRM
Strategic CRM: customer-centric business strategy
Dedicated to winning and keeping customers by creating and developing better value than competitors.Product oriented: customer choose products with best quality, performance, design etcProduction oriented: low price products
Sales oriented: customers are persuaded by advertisement and sales promotions
Customer – market oriented: uses customer and competitive information to develop better value propositions. – is a learning firm that constantly adapts to customer requirements and competitive conditions.
Operational CRM: automation of customer-facing processes
Automates and improves customer facing and customer supporting business processes.
Market automation: applies technology to marketing purposes.
Sales force automation: applies the technology to the management of a company´s selling activities (provides a standardized view of the sales cycle and a common language for discussion of sales issues).
Service automation: allows companies to manage their service operations: call centres, contact centre’s, web or face-to-face.
Enables efficiency of users
Reducing service costs
Partner relationship management: Allows partners to communicate with suppliers through a portal to: manage leads, sales orders, information, incentives
Analythical CRM: intelligent mining of customer-related data
Focuses on the intelligent mining of customer-related data for strategic or tactical purposes.Build on the foundation of customer related information
Essential part of CRM implementations
Helps makes decisions like:
Which customer to target
Focus of sales effort
Relative priority for customers and what level of service to offer.