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Types of CRM

This document discusses different types of CRM and their roles in organizations. It describes strategic CRM as focusing on developing a customer-centric culture, operational CRM as automating front office operations like marketing, sales, and service, analytical CRM as using data and analytics to increase customer value and retention, and collaborative CRM as different departments sharing customer information to provide consistent service across channels. Key stakeholders, steps in developing strategies, common applications, requirements, advantages and limitations are outlined for each type of CRM.

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Mathan Kumar
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83 views23 pages

Types of CRM

This document discusses different types of CRM and their roles in organizations. It describes strategic CRM as focusing on developing a customer-centric culture, operational CRM as automating front office operations like marketing, sales, and service, analytical CRM as using data and analytics to increase customer value and retention, and collaborative CRM as different departments sharing customer information to provide consistent service across channels. Key stakeholders, steps in developing strategies, common applications, requirements, advantages and limitations are outlined for each type of CRM.

Uploaded by

Mathan Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Types of CRM and their Role in the

Organization
Strategic CRM

● Strategic CRM is focused upon the development of a customer-centric business


culture. This culture is dedicated to winning and keeping customers by creating and
delivering value better than competitors.
● Philip Kotler identifies four other major business orientation
● Product-oriented
● Production-oriented
● Sales-oriented
● Customer or market-oriented
KEY STAKEHOLDERS OF STRATERGIC CRM
● Customers
● Partners
● Suppliers
● Management
● Employees
● Owners
Creating CRM Strategy for business

Creating CRM Strategy for business

1. Set Business Goals


2. Diagnosis
3. Dissect problems and opportunities
4. Map Directions
5. Set KPIs
6. Identify resources
7. Outline processes
8. Select CRM System
Steps in development of CRM Strategy
● Amplify Commitment
● Requirement Analysis
● Building valuable project team
Operational CRM- Supports
Front office Operations
● Automates and improves customer-facing and
customer supporting business processes
● CRM software applications enable the marketing, selling and
service functions to be automated and
integrated.

Marketing Automation

Sales Force Automation

Service Automation
Marketing Automation : Applying technology to Marketing process

Campaign management modules -use customer-related data in order


to develop, execute and evaluate targeted communications and offers.

[Technology aid is in need for Multi channel


environments(Challenging) for the purpose of integration and
coordination]

Event-based/trigger marketing used to describe messaging and offer


presentation to customers at particular points in time.

Event-based marketing also occurs in the business-to-business


context. The event may be a change of personnel on the
customer-side, the approaching expiry of a contract or a request for
information (RFI).
Sales force Automation: Adopted n B2B environments

● Seen as ‘ a competitive imperative ’ that offers ‘ Competitive Parity


Method of allocating a budget
competitive parity ’. for promotional activities that
depends on what competitors
are spending for similar
Opportunity management lets users identify and progress activities.

opportunities to sell from lead status through to closure and


beyond, into after-sales support.

Contact management lets users manage their communications


programme with customers.
Service Automation
It designates a process of significantly reducing or entirely
eliminating human labor when assisting clients.

Modern CRM and helpdesk software commonly feature customer


service automation tools such as intelligent routing, AI chat bots,
knowledge base, canned responses, customer self service portal,
workflow automation, IVR and others.

Two primary reasons why customer service is being increasingly


automated.

● To lower labor costs.


● To improve customer satisfaction and servicing speed.
Analytical CRM
(The fusion of Date and Intelligence)

● Analytical CRM is a subset of CRM in which


data is collected by a company about their
Customer interactions, with the goal of increasing
customer satisfaction and their customer retention
rate.
● It is concerned with capturing, storing, extracting, integrating, processing,
interpreting, distributing, using and reporting customer-related data to enhance both
customer and company value.
● And helps to take various product related decisions.
USAGE OF ANALYTICAL CRM. APPLICATIONS
● Optimize marketing effectiveness.
● Customer acquisition, cross-selling, up-selling, retention, etc.
● Analysis of customer behavior to aid product and service decision making (e.g.
pricing, new product development).
● Management decisions, e.g. financial forecasting and customer profitability analysis.
● Prediction of the probability of customer
defection.
REQUIREMENTS FOR ANALYTICAL CRM

❏ Notice
❏ Remember
❏ Learn
❏ Act Frequent buyer of books

Customer touch point

Transaction Processing System


Continue…….
Track Customer behavior over time

Visit 199

Visit 1 ……… Visit 199

DATA WAREHOUSE
SOME OF THE ASPECTS OF ANALYSIS
● Customer Analytics
● Marketing Analytics
● Sales Analytics
● Service Analytics
● Channel Analytics
Advantages of using Analytical CRM
● It provide solid consistent platform to predict scale the customer relationship.
● Helps to organization to make profitable customer trough with the sophisticated
analysis and make customers that are clone of the best.
● It also improves customer loyalty and satisfaction by addressing individual customer
needs and improve relationship with the existing customer.
STEPS IN ANALYTICAL CRM. PROCESS
● Problem formulation.
➔ Segmentation of clients
➔ Acquisition analysis (what is the quality of various lists or databases)
➔ Relation analysis (expected retention, opportunities for cross-selling, deep-selling, up-selling)
➔ Channel or approach analysis (which channel or approach gives the best results)

● Preparation.
➔ Random sample survey
➔ Relevant variables
➔ Cases
➔ Spread in scores
➔ Prepare definitive dataset
● Definitive analysis.
➔ statistical techniques
➔ Datamining
➔ Machine learning

● Visualizing.

STRENGTHS OF ANALYTICAL CRM. BENEFITS


● Can help to find and explore useful knowledge in large customer databases.
● Classify customers, predict customer behavior, select market approach or channel.

LIMITATIONS OF ANALYTICAL CRM. DISADVANTAGES


● Certain Analytical CRM techniques can be complex to understand.
● Still in early stage of usage.
COLLABORATIVE CRM

MEANING OF COLLABORATIVE CRM:

● Collaborative CRM is an approach to customer relationship management in which the various


departments of a company, such as sales, technical support, and marketing, share any information they
collect from interactions with customers.
● It deals with synchronization and integration of customer interaction and channels of communications
like phone, email, fax, web etc. with the intent of referencing the customers a consistent and systematic
way.

Collaborative CRM can be broadly identified by two aspects:

● Interaction Management
● Channel Management
OBJECTIVES OF COLLABORATIVE CRM
● Facilitating effective customer interaction

● Reducing customer service cost

● Gathering information relating to customers


COLLABORATIVE CRM

ADVANTAGES OF COLLABORATIVE CRM:

● Enables valued customer interaction across the channels.


● Entangles web or online collaboration to cut down service cost of customers.
● Integrates customer interaction with call centers to enable multi-channel interaction with customers and helps
them make understand the overall process vales.
● Describes a view of integrated customer’s details during interaction to server them in a better way.

SHORTCOMINGS:

● Requires coordination among different departments


● Time consuming process
Roles that make significant use of CRM
Roles that make significant use of CRM tools for enhancing efficiency:

● Sales representative,
● Account manager,
● Marketing manager,
● Market analyst,
● Campaign manager,
● Market manager,
● Customer relationship manager and
● Customer service agent.
THANK YOU

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