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MGT300 - Chapter 11: Building Customer-Centric Organization: Customer Relationship Management

1)CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

➨CRM enables an organization to :

a)Provide better customer service because focus more to customer.

b)Make call centers more efficient because did not have to pass phone to other.

c)Cross sell products more effectively because many products.

d)Help sales staff close deals faster so service will become more faster.

e)Discover new customers.

2)Recency,Frequency ,and Monetary Value (RFM)

➤How recently a customer purchased items (Recency) .To recognize latest customer.

➤How frequently a customer purchased items (Frequency).To know regular customer.

➤How much a customer spends on each purchase (Monetary Value).To know who customer spend a lot.

3)The Evolution of CRM





⟹CRM reporting technology -help organizations identify their customers across other applications.

⟹CRM analysis technologies -help organizations segment their customers into categories such as best and worst customers.

⟹CRM predicting technologies-help organizations predict customer behavior such as which customers are at risk of leaving.











4)The ugly side of CRM


➽Customer will viral to Internet if they did not satisfy with products or services it will affect your company image.


5)CRM's Explosive Growth






*CRM Business Drivers 





*Forecasts for CRM Spending (in billions)


6)Using Analytical CRM to enhance decisions





*Hard to integrates but they try to integrates


7)CRM success factors

⟹CRM success factors include :

a)Clearly communicate the CRM strategy because to communicate with the employees and corporate .

b)Define information needs and flows because organization have many department ,different flows and different systems.

c)Build an integrated view of the customer (operational and analytical integrated customers will be see in one view).

d)Implement in iterations because have divide with steps.

e)Scalability for organizational growth for future growth.

Comments

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  3. Unknown14 December 2018 at 22:03

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