MGT 300 - CHAPTER 11

Building a Customer-centric organization – Customer    Relationship     Management

Ø  CRM enables an organization to :

*Provide a better customer service
*Make call centers more efficient\
*Cross sell products more effectively
*Help sales staff close deals faster
*Simplify marketing and sales processes
*Discover new customers
*Increase customers revenues

Ø  Organization can find their most valuable customer through “RFM” – Recency, Frequency and Monetary value

*How recently a customer purchased items (recency)
*How frequently a customer purchased items (frequency)
*How much a customer spends on each purchase (monetary value)

Ø  The evolution of CRM

*CRM reporting technology – help organizations identify their customers across other applications
*CRM analysis technologies – help organization segment their customer into categories such as best and worst categories
*CRM predicting technologies – help organization make prediction regarding customers behaviour such as which customer are at risk of leaving
















 Ø  Using analytical CRM to enhance decision

*Operation CRM – supports traditional transaction processing for day-to-day front-office operations or systems that deals directly with customers
*Analytical CRM – supports back-office operations and strategic analysis and includes all systems that do not deal directly with customers




Ø  Customer relationship management success factors

1.Clearly communicate the CRM strategy
   *all department and employees understand exactly what CRM means and how it will add value to the organization – critical to the success of the implementation.

2. Defines information needs and flows
*organization understand all of the different ways that information flows into and out of the organization to implement a successful CRM system. If the organization misses one of the information flow such as customer service website, then none of that information from that website will be integrated into the CRM system and the company will not have a complete view of its customers

3. Build an integrated view of customer
*the CRM system must support the organization’s strategies and goals

4. Scalability for organizational growth
*ensure the system can support the organization’s future growth


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