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CRM and Its Relationship with EC

CRM and Its Relationship with EC. Customer relationship management (CRM): A customer service approach that focuses on building long-term and sustainable customer relationships that add value both for the customer and the company. CRM and Its Relationship with EC (cont.).

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CRM and Its Relationship with EC

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  1. CRM and Its Relationship with EC • Customer relationship management (CRM):A customer service approach that focuses on building long-term and sustainable customer relationships that add value both for the customer and the company

  2. CRM and Its Relationship with EC (cont.) • Classification of CRM programs • Loyalty program • Prospecting • Save or win back • Cross-sell/up-sell • eCRM:Customer relationship management conducted electronically

  3. CRM and Its Relationship with EC (cont.) • Extent of service • Customer acquisition (prepurchase support) • Customer support during purchase • Customer fulfillment (purchase dispatch) • Customer continuance support (postpurchase)

  4. CRM and Its Relationship with EC (cont.) • Benefits of CRM • Provides: • choices of products and services • fast problem resolution and response • easy and quick access to information • Limitations of CRM • Requires integration with a company’s other information systems which is costly • Difficult to support mobile employees

  5. CRM and Its Relationship with EC (cont.) • CRM implementation issues • Steps in building EC strategy focused on customer: • focus on the end customer • systems and business processes that are designed for ease of use and from the end customer’s point of view • efforts to foster customer loyalty

  6. CRM and Its Relationship with EC (cont.) • Five factors required to implement a CRM program effectively: • Customer-centric strategy • Commitments from people • Improved or redesigned processes • Software technology • Infrastructure

  7. CRM and Its Relationship with EC (cont.) • Web-related metrics a company uses to determine the appropriate level of customer support: • Response time • Site availability • Download time • Timeliness • Security and privacy • On-time order fulfillment • Return policy • Navigability

  8. CRM Applications and Tools:Delivering Customer Service in Cyberspace • CRM applications improve upon traditional customer service by means of easier communications and speedier resolution of customer problems • Customer service adds value to products and services • It is an integral part of a successful business

  9. CRM Applications and Tools (cont.) • Classifications of CRM applications • Customer-facing applications • Customer-touching applications • Customer-centric intelligence applications • Online networking and other applications

  10. CRM Applications and Tools (cont.) • Customer-facing applications Customer interaction center (CIC):A comprehensive service entity in which EC vendors address customer service issues communicated through various contact channels • Intelligent agents in customer service and call centers

  11. CRM Applications and Tools (cont.)

  12. CRM Applications and Tools (cont.) • Autoresponders:Automated e-mail reply systems (text files returned via e-mail), which provide answers to commonly asked questions • Sales force automation (SFA):Software that automates the tasks performed by sales people in the field, such as data collection and its transmission

  13. CRM Applications and Tools (cont.) • Customer-touching applications • Personalized Web Pages • E-Commerce Applications • Campaign Management

  14. CRM Applications and Tools (cont.) • Web Self-Service Activities conducted by users on the Web to provide answers to their questions (e.g., tracking) or for product configuration • Self-tracking • Self-configuration and customization

  15. CRM Applications and Tools (cont.) • Customer-centric applications • Data reports • Data warehouse A single, server-based data repository that allows centralized analysis, security, and control over the data

  16. CRM Applications and Tools (cont.) • Data analysis and mining • Analytic applications automate the processing and analysis of CRM data can be used to analyze the performance, efficiency, and effectiveness of an operation’s CRM applications • Data mining involves sifting through an immense amount of data to discover previously unknown patterns

  17. CRM Applications and Tools (cont.) • Online networking and other applications • Forums • Chat rooms • Usenet groups • E-mail newsletters • Discussion lists

  18. CRM Applications and Tools (cont.) • Mobile CRM the delivery of CRM applications to any user, whenever and wherever needed • Voice communication people are more comfortable talking with a person, even a virtual one, than they are interacting with machines. The smile and the clear pronunciation of the agent’s voice increases shoppers’ confidence and trust

  19. CRM Applications and Tools (cont.)

  20. CRM Applications and Tools (cont.) • Role of knowledge management and intelligent agents in CRM • Automating inquiry routing and answering queries requires knowledge • Generated from historical data and from human expertise and stored in knowledge bases for use whenever needed • Intelligent agents support the mechanics of inquiry routing, autoresponders, and so on

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