CRM – An Overview

CRM – An Overview

Section H1 – Group 2

ContentsWhat is CRM ?History of CRMHow it can be used ?Aspects of CRMVarious CRM SuitesExamples !Market ShareFuture CRM Trends

What is CRM• An integrated approach to identifying, acquiring and

maintaining customers – siebel.com. • Broadly recognized, widely-implemented strategy for

managing and nurturing a company’s interactions with customers, clients and sales prospects  - Wikipedia

• Term applied to processes implemented by a company to handle contact with its customers.

• It’s a software-based approach to handling customer relationships.

• Overall Goal – Find, attract and win new clients, retain and nurture existing ones and reduce the cost of marketing and client service.

BackOffice

Partner

Customer

Information

Analytics

Marketing

Web

Call Center

Field

Customers

Email

What is CRM?

History of CRM 1980s – Database Marketing Emerges 1980s – Database Marketing helped larger organizations

rather than smaller organizations. 1990s – CRM appears as a two way communication

device 2000s Internet age – CRM revolution – CRM expands

from stagnant storage to ready to use information storage 2000s Used most frequently in financial services, high

tech corporations and telecommunications industry.

How CRM can be used

The Four Aspects of CRM

1. Active CRM: A centralized database for storing data, which can be used to automate business processes and common tasks.

2. Operational CRM: The automation or support of customer processes involving sales or service representatives

3. Collaborative CRM: Direct communication with customers not involving sales or service representatives (‘self service’)

4. Analytical CRM: The analysis of customer data for a broad range of purposes

Source: Wikipedia

Five Views of CRM• Marketing Automation : Designed to get the right

mix of the company’s products and services in front of each customer at the right time.

• Sales Automation : Collaborative tools that enable all parties to the transaction to interact with one another.

• Service and Service Fulfillment : Serving existing customer base through problem resolution systems, workflow automation and field service dispatch systems

Five views of CRM

• Customer Self-Service : Capabilities that can be directly invoked by the customer on the internet via PC and wireless devices.

• E-Commerce : Capabilities such as shopping, marketplace, transaction and payment processing, and e-commerce security

Main Hindrance in CRM Implementation

• Cost factors: Complete third part CRM solutions (all modules) can be afforded only by very few companies.

• Technology (used by many of the companies implementing CRM) is heavily dependent upon the penetration of telecommunications which is very low in India.

• Lack of available databases of customers which form a crucial part of CRM Solutions.

http://www.som.iitb.ac.in:8080/bitsurvey/uploaded_documents/ICT_Pilot.pdf

Examples

The CRM enabled companies include :

• Major Telecom Companies • Banking and Insurance Services• TVS Electronics• Cannon India• HP India• Carrier Refrigeration • Planet M• Dell India

Market Share & Revenue

Vendor Revenue

SAP 2055

Oracle 1475

Salesforce.com 965

Microsoft 581

Amdocs 451

Others 3627

Totals 9147

Future CRM Trends• The market for customer relationship management

(CRM) in India is expected to grow at a compounded annual rate of 40 per cent each year.

• The CRM services market was expected to grow even faster at a rate of 53 per year.

• Aligning products, services and contractual agreements to enable customer business imperatives of higher client acquisition, retention and satisfaction.

• CRM projects are no longer viewed as stand-alone implementations but are now being increasingly pursued in context of larger business objectives and core strategic agendas.