BHAGWAN MAHAVIR COLLEGE

OF
COMMERCE AND MANAGEMENT
STUDIES

COURSE: SYBMS (SEM-IV)

SUBJECT: CUSTOMER RELATIONSHIP MANAGEMENT
UNIT– 2: CRM PROCESS
PREPARED BY: KHUSHBOO LALWANI
Contents
1.1 INTRODUCTION ..................................................................................................................... 4
1.2 OBJECTIVE ................................................................................................................................... 4
1.2.1 CRM objectives you can set for your business ...................................................................... 4
 Improve the buyer’s journey .............................................................................................. 4
 2. Improve operational efficiency ....................................................................................... 5
 3. Increase customer retention .......................................................................................... 5
 4. Lower your customer acquisition cost ............................................................................ 5
 5. Generate more sales ...................................................................................................... 6
1.3 INSIGHT OF CRM AND ECRTA/ECRM ............................................................................................ 6
1.4 CRM -CYCLE ................................................................................................................................. 7
 The Assessment phase ........................................................................................................... 7
 Planning Phase....................................................................................................................... 8
 The Execution Phase .............................................................................................................. 8
1.5 MODULES OF CRM ....................................................................................................................... 8
 CRM Module 1: Leads ............................................................................................................ 8
 CRM Module 2: Marketing ..................................................................................................... 8
 CRM Module 3: Workflows .................................................................................................... 9
 CRM Module 4: Apps Marketplace ......................................................................................... 9
 CRM Module 5: Reports ....................................................................................................... 10
 CRM Module 6: Content Repository ..................................................................................... 10
1.6 4C's (Elements) of CRM Process ................................................................................................. 10
 Customer Experience: .......................................................................................................... 10
 Conversation........................................................................................................................ 10
 Content................................................................................................................................ 10
 Collaboration ....................................................................................................................... 10
1.7 CRM Process for Marketing Organization ................................................................................... 11
1. Lead Generation .................................................................................................................. 11
2. Lead Qualification ................................................................................................................ 11
3. Lead Nurturing ..................................................................................................................... 11
4. Sales Engagement ................................................................................................................ 11
5. Opportunity Management ................................................................................................... 11
6. Customer Acquisition ........................................................................................................... 11
7. Customer Engagement......................................................................................................... 11
8. Customer Support ................................................................................................................ 11
 9. Upselling and Cross-Selling................................................................................................... 12
10. Customer Feedback and Analysis ..................................................................................... 12
11. Performance Tracking and Reporting ............................................................................... 12
1.8 CRM AFFILIATION IN RETAIL SECTOR .......................................................................................... 12
1. Customer Data Collection .................................................................................................... 12
2. Customer Segmentation ...................................................................................................... 12
3. Personalized Marketing Campaigns...................................................................................... 12
4. Loyalty Programs ................................................................................................................. 13
5. Customer Service and Support ............................................................................................. 13
6. Omni-channel Integration .................................................................................................... 13
7. Predictive Analytics .............................................................................................................. 13
8. Customer Feedback and Engagement .................................................................................. 13
9. Performance Tracking and Reporting ................................................................................... 13
1.1 INTRODUCTION

Customer relationship management (CRM) involves all processes to capture customers and
maintain a relationship with them. Other processes include the management of customer data,
information analysis, and generating reports to gain insights. CRM covers all aspects of the
business operation that involves customers, such as sales, business development, sales,
marketing, and customer service.
Therefore, CRM tools are integral in storing information and executing these processes. They
also help facilitate other procedures such as integration with different business workflows.
These solutions centralize many operations that allow you and your team to manage
marketing campaigns, create sales strategies, identify opportunities, minimize risks, and
more.

1.2 OBJECTIVE

Creating a CRM strategy ensures that you get the most out of your software. It clarifies why
you’re using the software and how its impact aligns with your overall business strategy and
goals. Plus, a defined strategy gets your entire organization on the same page and focused on
achieving the same goals.
CRM tools do a lot. They give companies a centralized platform for organizing data and
communicating with customers. And they allow you to manage relationships throughout the
entire customer lifecycle, spanning interactions across several multichannel touchpoints.
With this robust functionality, countless benefits are available to those who implement a
CRM. Creating a CRM strategy helps you find the gap in your current systems and processes
so that you use the software in the manner that will have the greatest impact on the overall
health of the business.

1.2.1 CRM objectives you can set for your business

 Improve the buyer’s journey

The fundamental purpose of a CRM system is to improve the customer experience. Executing
on this objective is the most sure-fire way to see positive results across your business. When
you make improved customer satisfaction the main goal for your CRM, all other objectives
work to support this goal.
One of the best ways to boost customer satisfaction is to offer a personalized experience. A
CRM gives you unified customer profiles to understand all of your customers’ needs. You
can use these insights to tailor every interaction and how you approach your products and
services.
With a CRM, all your customer data is easily accessible by the entire team so everyone can
pick up on customers’ histories and preferences faster. This helps you increase the speed at
which you respond to customer inquiries to provide a more positive experience.

 2. Improve operational efficiency

CRM software makes your sales process much more efficient as you can save a considerable
amount of time by automating repetitive administrative tasks. Audience segmentation, email
follow-ups, post-sale workflows, and invoicing are just some of the tasks and processes that a
CRM lets you automate.
Modern CRMs can further consolidate customer information gathered across the
organization, including sales, marketing, and customer service, into a single dashboard,
everyone in your business can enjoy streamlined communication and smoother collaboration.

 3. Increase customer retention

Your best customers are always your current customers. No matter your industry, it is always
easier to encourage repeat purchases and/or expand contracts than it is to win over new
prospects. By adopting a CRM, you can boost retention to maximize the average lifetime
value of your customers.
The software makes it easy to track each customer’s interests and every interaction to gain a
clear understanding of how to serve them best. As a result, campaigns can be aligned to each
customer to encourage further loyalty.
For example, you can cross-sell and offer discounts based on previous purchases. Or, you
could keep track of how long someone has been a customer and send them rewards when
they reach key milestones to improve stickiness.

 4. Lower your customer acquisition cost

Gaining new customers comes at a cost. With a CRM, you can get more return from every
dollar spent on marketing to new customers to lower your average customer acquisition cost
(CAC). There are several ways a CRM helps you achieve this.
To start, it can lower the cost needed to executive effective campaigns by automating
repetitive tasks to free up time for your sales and marketing teams. The centralization of data
afforded by a CRM also allows you to target potential customers with greater efficiency.
With a CRM, you will know exactly what stage of the purchasing process each prospect is in.
You can use this to send marketing messages targeting their specific needs at that moment
instead of sending generalized messages less likely to capture their attention.

 5. Generate more sales

At the end of the day, your business needs sales to survive. A great way to increase sales is to
ensure you direct your efforts toward selling to the right people. Not every lead will be a
good fit for your business, and some will have a higher value than others. With a CRM, your
sales team can ensure their pipeline is full of highly qualified leads and prospects.
The data in a CRM system can be used to learn what your best customers have in common so
that you can then prioritize the leads that share the same traits. This keeps the sales team
focused on the best leads for the largest contract sizes. By doing so, you can close more deals
with higher-value customers.

1.3 INSIGHT OF CRM AND ECRTA/ECRM

S.No. CRM E-CRM

CRM stands for Customer Relationship E-CRM stands for Electronic Customer
01. Management. Relationship Management.

CRM applies traditional tools and E-CRM applies electronic/digital tools and
02. standards to perform its operation. standards to perform its operation.

Along with telephone, in E-CRM customer

In CRM customer contact is initiated contact is initiated through the internet, email,
03. through retail store, telephone or fax. wireless, mobile and PDA technologies.

in CRM Customer service is time and Customer service can be provided at any time
04. space constraint. from any location.
 In Customer Relationship Management In Electronic Customer Relationship
05. wide area coverage is not possible. Management wide area coverage possible.

In CRM quick response is possible In E-CRM quick response may or may not
06. through telephonic call. happen poor response

In CRM system is designed around In E-CRM system is designed around customer

07. products and job function. needs.

Customer Relationship Management is In eCRM optional response limits its

08. more effective. effectiveness.

It may or may not provide so attractive It provides attractive options as it uses audio
09. options. visual features, animations etc.

In CRM web based applications needs In Electronic Customer Relationship

PC clients and also which needs to be Management no such requirement, internet is the
downloaded separately in various backbone and the browser is the customers portal
10. platforms. to e-CRM.

In CRM the nature of relationship is In eCRM the nature of relationship is complex

11. simple and static. and dynamic.

1.4 CRM -CYCLE

 The Assessment phase develops a model of the behaviour of target customers,

using a combination of in-house data and external demographic, psychographic, and
other data. Here, marketing will explore a number of questions, including:
Who are the customers?
What are their demographics and lifestyle?
Where do they live?
What are they worth?
What is their lifetime value potential?
What and how do they buy?
What are their purchasing patterns?
How can they be reached?
 Planning Phase includes marketing decides how best to approach the customers
defined in the assessment stage by designing marketing campaigns and strategies
 The Execution Phase of the cycle is where an organization puts all this knowledge to
work, using all of the customer touchpoints available.

1.5 MODULES OF CRM

 CRM Module 1: Leads

Customers are the most valuable assets for your business. Here, the lead module keeps data
of all the customers organized. Whenever you capture a lead from your marketing channels,
the software stores all their data in one place.
Furthermore, this CRM module offers smart views to evaluate the present status of the leads.
When all of this data is accumulated in one place, any sales manager can quickly
analyze sales operations currently going on and how it can be modified further.
Additionally, there are different options to manage leads, activities, task, and lists, that
empowers every salesperson to make the most out of their efforts.

 CRM Module 2: Marketing

Marketing module stages conclusive details of all your email marketing campaigns and more.
It displays the names of the marketing campaigns with the present status.
In addition to that, the marketing module also displays the results of your email
marketing campaigns with respective click-through rates and more. This helps you to get a
gist of how fruitful your email marketing campaigns have been. And how you can improve it
further.
Also, the marketing module allows you to create new email campaigns after analyzing the
response of the previous. Additionally, this CRM module showcases the details of landing
pages that you have created. It puts together all data regarding views, conversion rate, present
status, and more.
Last but not least, the Marketing Module of CRM creates and furnishes the details of all
website widgets, their types, and their status. Additionally, it also provides you a way to
check the conversion rate of these widgets by generating individual reports for every one of
them.

 CRM Module 3: Workflows

The workflow module helps you to automate your sales process. For example, when a new
lead flows into the system. You can set-up automation to assign it to a salesperson that can
cater to your lead’s interest.
Following that, you can create an if/else condition. Suppose, if the lead does not pick up your
follow up call, you can set a task to call after three days. Conversely, if they pick up and
show interest in your product, you can engage them with email, highlighting the details of the
product.
Here is a complete guide to workflow automation.
The workflow module of CRM helps you to gather all the workflows in one place and
analyze the number of triggers, etc.
Moving on, the CRM module also delivers a process designer. It allows you to create process
after identifying relevant triggers. For example, if a prospect is inclined to make a purchase,
the process designer will convert their lead stage into opportunity.

 CRM Module 4: Apps Marketplace

The Apps Marketplace module of CRM provides options of different apps with which the
CRM software can integrate through connectors. For example, Facebook Lead Ads
connector, marketplace (Justdial, Sulekha, etc.) connector and more.
This Module of CRM enables you to transfer data (leads from different applications) to
CRM, allowing you to collect all leads in one platform. It enables you to nurture and engage
them efficiently, based on the channel from where they came in.
  CRM Module 5: Reports

Reports module of the CRM software gathers reports of different categories and presents
them in one place. These reports include administrative reports, field sales reports, customer
analytics, and many more.
Based on your usage pattern, this CRM module collects frequently used reports in one
section. It enables you to access them effortlessly. Also, the module allows users to create
customized reports in no time.
Reports Module of CRM provides the ease of analyzing all data related to sales and
marketing. With this, it helps you to optimize your process to grow in your industry.

 CRM Module 6: Content Repository

The content repository module of the CRM software gathers all images and documents. It
makes them easily accessible whenever you need them.
Through content repository, all your creatives and images can be accessed by your team
members. When in need, it saves time by eliminating the confusion of searching for data
stored in different silos.

1.6 4C's (Elements) of CRM Process

 Customer Experience: people love to talk about your service and your products. It is
the key driver of consumer conversations.
 Conversation: the story of my previous book, The Conversation Manager. It is the
goal to converse and not communicate. Listen, ask questions, facilitate the
conversations and actively take part in them.
 Content: give people stuff to talk about, but do it in an authentic, positive and
relevant way.
 Collaboration: involve customers in everything your company does. Let them be part
of your boardroom and let them be involved in your decision making processes.
1.7 CRM Process for Marketing Organization

For a marketing organization, the CRM process revolves around effectively managing
interactions with prospects and customers to drive sales, enhance customer satisfaction, and
build long-term relationships. Here's a tailored CRM process specifically for a marketing
organization:
1. Lead Generation: The CRM process begins with lead generation, where marketing
teams use various channels such as digital marketing, social media, content
marketing, and events to attract potential customers and generate leads.
2. Lead Qualification: Once leads are generated, they need to be qualified to determine
their readiness to make a purchase. This involves assessing their interest level, budget,
authority to buy, and timeline (BANT criteria).
3. Lead Nurturing: Leads that are not yet ready to make a purchase are nurtured
through targeted marketing campaigns. This includes personalized email sequences,
content marketing, and automated workflows designed to educate and engage leads
until they are sales-ready.
4. Sales Engagement: Qualified leads are passed on to the sales team for further
engagement. Sales representatives use CRM tools to track interactions, schedule
meetings, and follow up with leads to move them through the sales pipeline.
5. Opportunity Management: As leads progress through the sales pipeline, they are
converted into opportunities. CRM systems allow sales teams to manage these
opportunities, track deal stages, forecast revenue, and prioritize activities to maximize
sales.
6. Customer Acquisition: Once a sale is closed, the CRM process facilitates the
seamless transition of new customers from the sales team to the customer success or
account management team. This involves setting up accounts, onboarding customers,
and ensuring a smooth handoff.
7. Customer Engagement: Post-sale, the CRM process focuses on ongoing engagement
with customers to build relationships and drive retention. This includes personalized
communication, targeted marketing campaigns, and customer feedback collection.
8. Customer Support: CRM systems also play a crucial role in managing customer
support interactions. Customer support teams use CRM tools to track inquiries,
resolve issues, and provide timely assistance to customers.
 9. Upselling and Cross-Selling: CRM processes include strategies for identifying upsell
and cross-sell opportunities with existing customers. This involves analyzing
customer data, understanding their needs, and offering relevant products or services to
increase revenue.
10. Customer Feedback and Analysis: Gathering feedback from customers is essential
for improving products, services, and customer experiences. CRM systems enable
organizations to collect, analyze, and act on customer feedback to drive continuous
improvement.
11. Performance Tracking and Reporting: Throughout the CRM process, organizations
track key performance metrics such as lead conversion rates, sales velocity, customer
satisfaction scores, and customer lifetime value. This data is used to measure the
effectiveness of CRM efforts and inform strategic decision-making.
By implementing a robust CRM process tailored to the needs of a marketing organization,
businesses can streamline sales and marketing activities, improve customer engagement, and
drive sustainable growth.

1.8 CRM AFFILIATION IN RETAIL SECTOR

In the retail sector, Customer Relationship Management (CRM) plays a vital role in fostering
customer loyalty, enhancing customer satisfaction, and driving repeat business. Here's how
CRM affiliation is implemented in the retailing sector:
1. Customer Data Collection: Retailers gather extensive customer data through various
touch points such as point-of-sale (POS) systems, online purchases, loyalty programs,
and customer feedback. This data includes demographics, purchase history,
preferences, and interaction history.
2. Customer Segmentation: Using CRM systems, retailers segment their customer base
based on various criteria such as demographics, purchasing behavior, frequency of
purchases, and customer preferences. This segmentation allows retailers to tailor
marketing efforts and offers to specific customer segments.
3. Personalized Marketing Campaigns: With CRM data, retailers can create
personalized marketing campaigns that resonate with individual customers. By
analyzing customer data, retailers can send targeted emails, personalized offers, and
promotions tailored to each customer's preferences and purchase history.
 4. Loyalty Programs: CRM systems enable retailers to manage and track loyalty
programs effectively. By offering rewards, discounts, and incentives based on
customer behavior, retailers can encourage repeat purchases and build long-term
relationships with their customers.
5. Customer Service and Support: CRM systems help retailers provide excellent
customer service by centralizing customer information and interactions. Customer
service representatives can access customer history, preferences, and previous
interactions to provide personalized assistance and resolve issues efficiently.
6. Omni-channel Integration: CRM systems facilitate omni-channel retailing by
centralizing customer data across multiple channels, including brick-and-mortar
stores, e-commerce websites, mobile apps, and social media platforms. This
integration allows retailers to provide a seamless shopping experience across all
channels and touchpoints.
7. Predictive Analytics: CRM systems leverage predictive analytics to forecast
customer behavior, identify trends, and anticipate future customer needs. By
analyzing historical data and patterns, retailers can make informed decisions about
inventory management, product assortment, and marketing strategies.
8. Customer Feedback and Engagement: CRM systems enable retailers to gather
customer feedback through surveys, reviews, and social media monitoring. By
listening to customer feedback and addressing their concerns, retailers can improve
products, services, and overall customer experiences.
9. Performance Tracking and Reporting: CRM systems provide retailers with
valuable insights into their sales performance, customer retention rates, and return on
investment (ROI) for marketing campaigns. By tracking key performance metrics,
retailers can measure the effectiveness of their CRM initiatives and make data-driven
decisions to optimize their strategies.
Overall, CRM affiliation in the retailing sector enables retailers to build strong relationships
with their customers, drive sales, and enhance overall business performance. By leveraging
customer data, personalizing marketing efforts, and providing excellent customer service,
retailers can differentiate themselves in a competitive market and create memorable shopping
experiences for their customers.
 QUESTION BANK
LONG QUESTIONS
1. What are the CRM practices that you can use for business.
2. Difference between CRM and ECRM
3. CRM process for Marketing Organization
4. CRM affiliation with retail sector
5. Explain in detail CRM

SHORT QUESTIONS
1. 4c’s Of Marketing
2. Objectives Of CRM
3. CRM Cycle
4. Only state the process of CRM
5. What is Workforce
6. What is Assessment Phase
7. What is Omni Culture Integration