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E CRM

The document discusses customer relationship management (CRM) and how it has evolved from a cost reduction strategy to include growth strategies and become more marketing led. It describes the need for electronic CRM (e-CRM) to integrate new electronic channels like web and wireless. The key applications and benefits of e-CRM are reducing costs, improving accuracy and satisfaction, and increasing conversion rates, retention, and profitability.

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33 views14 pages

E CRM

The document discusses customer relationship management (CRM) and how it has evolved from a cost reduction strategy to include growth strategies and become more marketing led. It describes the need for electronic CRM (e-CRM) to integrate new electronic channels like web and wireless. The key applications and benefits of e-CRM are reducing costs, improving accuracy and satisfaction, and increasing conversion rates, retention, and profitability.

Uploaded by

thakkurnikita51
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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E -C RM

Customer Relationship Management


(CRM)

CRM is a strategy by which companies optimise profitability


through enhanced customer satisfaction.

CRM is about automating and enhancing the customer-centric


business processes of Sales, Marketing, and Service.

CRM not only deals with automating these processes, but also
focuses on ensuring that the front-office applications improve
customer satisfaction, resulting in added customer loyalty
that directly affects the organization’s bottom line.
CRM Evolution
Cost Reduction Strategy Growth Strategy

BPR ERP SFA CRM eCRM

Business Led IT Led Marketing Led

1980s 1990s 2000s


Need for e-CRM or
the problems faced by Traditional CRM

Vendor offerings exist within the broad CRM categories of


sales strong, service and marketing. CRM evolved with
different vendors carving out their own niches in complete
isolation from the others.

Lack of a single customer-centric data warehouse has caused


any addition of more customer touch points only served to
worsen the problem caused
E-CRM
E-CRM (Electronic Customer Relationship Management)
expands the traditional CRM techniques by integrating new
electronic channels, such as Web, wireless, and voice
technologies and combines it with e-business applications
into the overall enterprise CRM strategy.

The goal is to drive consistency within all channels relative to


sales, customer service and marketing initiatives to achieve a
flawless customer experience and maximize customer
satisfaction, customer loyalty and revenue.

s Therefore ,it is just an expanded, integrated version of CRM .


Thus, Old CRM + Internet = e-CRM
The differences between CRM and
e-CRM
Key applications of e-CRM

Information integration application

 An incomplete view of customers reduces their loyalty and


trust
 Consolidating customer data and information from different
sources
 To keep up with every customer’s interaction

Customer analysis application

 Measures, predicts, and interprets customer behaviors


 Predictive models to identify the customers most likely to
perform a particular activity
 Online analytical processing, data mining and statistics
Continued….
Real-time decision application
 To coordinate and synchronize communications across
disparate customer
 An effective real-time decision application promotes
information exchange between the company and every
customer

Personalized messaging application


 Building customer profiles and enables customized
product and service offerings based on the information
integration application
Benefits :
Retaining existing customers.
Selling more to existing customers.
Finding and winning new customers.
Interactions lead to trusted relationships:

 Focus the business on improving customer relationships and


earning a greater share of each customer’s business.

Increasing efficiency.
Improving marketing and sales decision making.
Enabling process measurement – leading to process
improvement.
Continued….

Enables 24/7 customers interaction:


optimize interactive relationships between customers and
companies.

Personalization through technology:


enable a business to extend its personalized messaging
through the Web and email.
Goals of e-CRM
□ Reduce :
 Costs of
marketing
n Improve :
 Accuracy and relevancy of
recommendations
 Customer satisfaction
c Increase :
 Conversion rate, i.e., Turn browsers into
buyers
 Customer retention and frequency
 Order size
Continued….

 customer response
 competitiveness through
differentiation
 Profitability.

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