Chapter 11 : Building a customer centric organizational-Customer relationship management

CRM enables an organization to :

-        provide better customer service

-        make call centers more efficient

-        cross sell products more effectively

-        help sales staff close deal faster

-        discover new customer

-        increase customer revenues

The Evolution of CRM

 

Recency , Frequency and monetary value

Recency : how recently a customer purchased items

Frequency : how frequently a customer purchased items

Monetary value :how much a customer spends on each purchase

Using analytical CRM to enhance Decision

Operational CRM : supports traditional transaction processing for day-to-day front-office operations or systems that deal directly with the customer

Analytical CRM : support back office operations and strategic analysis and includes all system that do not deal directly with the customer.

CRM success factor

-        clearly communicate the CRM strategy

-        define information needs and flow

-        build an integrate view of the customer

-        implement in iterations

-        scalability for organizational growth