CUSTOMER RELATIONSHIP

MANAGEMENT

Presented by-: Bhaskar Pratap Singh

INTRODUCTION CUSTOMER RELATIONSHIP

MANAGEMENT

CRM is a powerful functional area of CRM is a powerful functional area of Marketing Management. It is therefore Marketing Management. It is therefore desirable that one should have a desirable that one should have a relook at the concept of marketing in relook at the concept of marketing in some of its evolutionary phases with some of its evolutionary phases with the change in focus from products to the change in focus from products to relationships during the past 50years. relationships during the past 50years. Marketing and the Marketing Marketing and the Marketing communication mix are changing. New communication mix are changing. New opportunities new threats, new tools opportunities new threats, new tools and innovations are emerging. The and innovations are emerging. The worlds more than 650crore consumers worlds more than 650crore consumers and probably 50crore industrial buyers and probably 50crore industrial buyers are becoming increasingly accessible. are becoming increasingly accessible. Marketing has moved from – Marketing has moved from –

Customers acquisition ( winning new Customers acquisition ( winning new customers ) to customers ) to

Customers retention ( keeping Customers retention ( keeping customers for life )customers for life )

Customer

There is only one boss. The customer! He can fire everybody in the There is only one boss. The customer! He can fire everybody in the company, from the chairman on down, simply by spending his money company, from the chairman on down, simply by spending his money somewhere else. somewhere else.

------------- Sam Walton, founder of Wal-Mart------------- Sam Walton, founder of Wal-Mart

Our greatest asset is customer! Treat each customer as if they are only Our greatest asset is customer! Treat each customer as if they are only one!one! --------- LAURICE LEITAO --------- LAURICE LEITAO

Customer is kingCustomer is king

Know your customer……to capture & retain them!Know your customer……to capture & retain them!

If, we don’t take of our customers someone else If, we don’t take of our customers someone else

will!will!

Phases & Determents of CRM

ACQUIREACQUIRE

ENHANCEENHANCE

RETAINRETAIN

TRUSTTRUST

VALUEVALUE

 Hospitality opts for CRM :-

 Education sector opts for CRM

o Student Relationship Student Relationship Management (SRM)Management (SRM)

Telecom sector opts for CRM

Customer service is Key to Customer service is Key to sales and loyaltysales and loyalty

Customer service become Customer service become the differentiatorthe differentiator

 Banking sector opts for CRM

Retail sector opts for CRMRetail sector is Indian’s largest Retail sector is Indian’s largest

industry; this sector is valued at $200 industry; this sector is valued at $200 billion account for over 10% of the billion account for over 10% of the country’s GDP and around 8% of the country’s GDP and around 8% of the country’s employment. Modern retail has country’s employment. Modern retail has entered India as seen in sprawling entered India as seen in sprawling shopping centers.shopping centers.

According to Pareto’s principle According to Pareto’s principle 80% of sales from 20% of the customers. 80% of sales from 20% of the customers. But this would happen if the retailer has But this would happen if the retailer has the 20% as its most profitable customer the 20% as its most profitable customer and not just normal customer.and not just normal customer.

The following are the some of the examples

where retail malls are following Pantaloon touch with its loyal customers through mailers, Pantaloon touch with its loyal customers through mailers, SMS, telephone informing them about their developments SMS, telephone informing them about their developments and promotions.and promotions.

Shoppers stop known as the ‘first citizen card’ where Shoppers stop known as the ‘first citizen card’ where customer can enjoy reward points for every purchase.customer can enjoy reward points for every purchase.

CONCLUSION

Thank YouThank You

For your For your valuablevaluable time time