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Customer Relationship Management

CRM is

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Customer Relationship Management

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    1. Customer Relationship Management Sales and Distribution Management Marketing 3345

    2. CRM is… a comprehensive business model for increasing revenues and profits by focusing on customers. both an overarching business philosophy and a process tool to facilitate a truly customer-driven enterprise.

    3. “…a journey of strategic, process, organizational and technical change whereby a company seeks to better manage its enterprise around customer behaviors. This entails acquiring knowledge about customers and deploying this information at each touchpoint to attain increased revenue and operational efficiencies.” PriceWaterhouse Coopers CRM is…

    4. Customer-Centric Cultures Include… Adopting a partnership business model with mutually shared risks and rewards Defining selling as customer business consultation Formalizing customer analysis processes and agreements Being proactive in educating customers about value chain and cost reduction opportunities Focusing on continuous improvement principles stressing customer satisfaction

    5. Objectives of CRM Customer Retention - retain loyal and profitable customers and channels Customer Acquisition - acquire customer based on known characteristics which drive growth and increase margins Customer Profitability - increase individual customer margins by offering the right product at the right time

    6. Advantages of CRM Reduces advertising costs Increases awareness of customer needs Tracks the effectiveness of promotional campaigns Allows competition for customers based on service, not prices Prevents overspending on low-value clients and under spending on high-value ones Speeds the time it takes to develop and market a product Improves use of the customer channel

    7. The CRM Process Cycle

    8. 10 Critical Questions in CRM Customers Who are our customers? What do our customers want and expect? What is the value potential of our customers? The Relationship What kind of relationship do we want to build? How do we foster exchange? How do we work together and share control? Managerial Decision Making Who are we? How do we organize to move value closer to our customers? How do we measure and manage our performance? How do we increase our capacity for change?

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