Customer Relationship Management
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Transcript of Customer Relationship Management
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Chapter 5:Quantifying the Impact
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How much difference does good CRM make?
It depends on
CRM Customers’ reaction toCRM initiatives
The effect of good CRM can be identified by research
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Good CRM
A positive outcome leads to an improved CRM
Well-handled customer complains may reinforce purchasing behavior
Satisfaction leads to recommendation to others
Satisfaction AFTER good problem-resolution may lead to stronger recommendations
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Competitive SuperiorityAlternative Sales ChannelsBarriers to Market EntryNew Products and ServicesQuantifying CRM
APPLICATIONOF CRM
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COSTOF SALES
REVENUE &CUSTOMER
SATISFACTION
Measure of your improved
CRM
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Some customers will resist being
managed over the phone, but some will welcome it
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Changes in CRM
Not necessarily revolutionary
Can be as simple as more training or shuffling of workstations and deliverables
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Chapter 6: Identifying Customers’ Relationship Needs
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RELATIONSHIP
PERFORMANCE
REQUIREMENTSCOMPETITIVENESS
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Researching Competitive Requirements
Distinguish between
What CRM competitors
are deliveringWhat customers
perceive them to be delivering
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General perceptions
Wants
Expectations
Define:
Relationship Performance Requirements
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CRM policies cannot be
completely tailored to the needs of individual customers
Making Sense of Customer Data
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It is HARDto meet all yourcustomers’ needsall the time
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COMPETITIVEADVANTAGE
COMPETITIVESURVIVAL
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Chapter 7:The Role of Market
Research
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“If you can’t measure it,you can’t manage it”
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Desk researchQualitative groupsQuantitative researchWeb and e-mail questionnairesTelephone questionnairesMystery shopping
RESEARCHTECHNIQUES
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Competitive researchInternal auditUser groupsCustomer feedbackStaff research
RESEARCHTECHNIQUES
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Chapter 8:Customer Retention and Loyalty
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Managing Loyalty
Not only managing behavior,
but also managing a state of mind
“I trust you more than I trust your competitors”
“I understand you better than
I understand your competitors”
“You understand me better than your
competitors”
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1. WELCOME CYCLE
2. UP-SELLING
3. CROSS-SELLING
4. RENEWAL
5. LAPSED CUSTOMERS
6. INACTIVE CUSTOMERS
Relationship Planning