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CRM and Relationship Marketing

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Integrating customer information from all functions and departments across the ... Sears, Roebuck & Co's most profitable credit card customers get to choose a ... – PowerPoint PPT presentation

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Title: CRM and Relationship Marketing


1
CRM and Relationship Marketing
  • MKT 490.2
  • Feb 27, 2002

2
What is CRM?
  • Customer Relationship Management means different
    things to different people. There meanings and
    continually evolving.
  • For the purpose of E-business, essentially CRM is
    a comprehensive approach for

3
CRM- customer information
  • Integrating customer information from all
    functions and departments across the enterprise
  • Continental Airlines has introduced a Customer
    Information System where every one of
    Continentals 43,000 gate, reservation and
    service employees will have access to the history
    and value of each customer.
  • The system suggests specific service recovery
    remedies and perks such as coupons for delays and
    automatic upgrades.
  • The system is provides more consistent staff
    behavior and service delivery.

4
CRM- personalized approach
  • Providing customers with easy access to
    personalized product and service information,
    order status, account history, and special offers
  • Sears, Roebuck Cos most profitable credit card
    customers get to choose a preferred two-hour time
    window for repair appointments.
  • Regular customers are given a four-hour time
    window

5
CRM- shared information
  • Leveraging intranets and extranets to bring
    people together within and outside the
    organization
  • Dealer Extranets

6
CRM- new channels and segments
  • Creating new sales channels and reaching new
    market segments over the internet

7
Amazon.com
  • Recommendations, notifications on topics of
    specific interest, purchase circles, saved
    information (included addresses of other people I
    send books to), 1-click ordering, excellent
    fulfillment, customer service
  • Percentage of returning customers is about 15 to
    35 compared to the 3-5 average for e-tailers

8
How CRM?
  • CRM achieves these objectives by optimizing and
    coordinating people, processes and technology
  • A CRM system may include
  • Data warehouses
  • Data marts
  • Call and contact centers
  • Customer and product-support operations
  • Sales force automation tools

9
Players
  • Oracle (eBusiness Suite)
  • PeopleSoft (Vantive)
  • Pivotal (eRelationship)
  • Quintus (eContact)
  • Remedy
  • Sales Logix (Interact and Act)
  • SAP
  • Saratoga System
  • Siebel
  • Trilogy (Multichannel Commerce)

10
What is relationship marketing?
  • Relationship Marketing is about establishing,
    maintaining, enhancing, and commercializing
    customer relationships through promise
    fulfillment
  • RM involves
  • two way communication with stakeholders
  • 1-1 marketing
  • CRM- customer relationship management

11
Bottom Line Goal of RM
  • Create a positive experience for each customer,
    every time they interact with your company,
    product or service

12
RM- Buzz Words
  • best-customer targeting
  • market of one
  • individualized consumerism
  • one-to-one marketing
  • mass customization
  • loyalty marketing
  • account-specific, co-marketing programs

13
3 Components to Success
  • Good Data
  • Right Technology
  • Commitment to Customer Service

14
Continuum from Mass to Relationship Marketing
15
3 Levels or RM
16
Online RM
  • The Internet provides a new medium for this
    concept
  • highly interactive
  • intranet
  • email direct

17
Goals of a RM program
  • Retain and grow key customers and channels
  • create individual relationships
  • reduce customer turnover
  • build sales through improved brand loyalty
  • grow profits with strategies that push beyond
    price

18
Why Focus on Retention?
19
Why you Need a Customer Database
  • Deliver custom-tailored products
  • Personalized service
  • Acknowledgement of their importance
  • The old neighborhood store feeling

20
Benefits
  • Higher level of repeat business
  • Lower promotional and sales costs
  • lower market research costs
  • Access to just-in-time information

21
Word of Mouth via Email
  • Free Giveaways
  • stock
  • 200 Gap cloths

22
Don Peppers and Martha Rogers
  • Probably the two consultants (among many) most
    associated with CRM their website is
    www.1to1.com
  • http//www.1to1.com/Building/CustomerRelationships
    /content/videoList.jsp?BV_SessionID_at__at__at__at_1150699629
    .0989110831_at__at__at__at_BV_EngineIDhalklchflgfbfdlchlcfin
    cnl.0CMD_MOVEPAGE_SETPAGE1SET_NUM0
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