CH 4 - Customer Relationship Management A Databased...

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Customer Relationship Management A Databased Approach V. Kumar Werner J. Reinartz Instructor’s Presentation Slides
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Customer Relationship Management A Databased Approach V. Kumar Werner J. Reinartz Instructor’s Presentation Slides
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Chapter Four Implementing the CRM Strategy
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Topics Discussed Elements of a CRM System CRM Applications CRM Costs Stages of ROI Estimation CRM Implementation Case Study: Capital One
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Elements of a CRM System Customer Interface/ Touch points Sales Person Contacts CRM Applications Sales Management Functions Marketing Functions Campaign Management Segmentation Personalization and Customization Customer Service Functions Helpdesk Customer Care Web based Contacts Email Websites Telesales Kiosks Direct mail Coupons
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Sales and Sales Management Function Contact and quote management, account management, pipeline analysis Interaction of sales force with prospect, turning prospect into customer, maintaining mutually profitable relationship Marketing function Multi-channel campaign management, opportunity management, web- based encyclopedia, market segmentation, and lead generations / enhancement / tracking Personalization CRM Applications
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CRM Applications (contd.) Customer service function : Incident assignment, escalation, field personnel tracking, reporting, problem management, resolution, order management, and warranty/contract management Key to a company’s ability to maintain proactive relations with customers and hence retain satisfied loyal customers CRM systems assist in managing help desk and providing customer care
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ROI (Return on Investment) of CRM Formula: Profits/Investment X 100% = ROI (%) Questions on what can be counted as investment in CRM? How much will consulting for the project cost ? To what degree is business process re-design necessary? What new software and hardware must be purchased to accommodate the new system? Does the system need to be customized or will it work “out of the box”? How much customization is required and at what cost?
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ROI of CRM (contd.) Questions on what can be counted as investment in CRM? (contd.) Can the system be easily configured and maintained by internal IT staff or is continuous external assistance required? What is the cost of training the company’s staff to use the CRM system?
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CH 4 - Customer Relationship Management A Databased...

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