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Achieving Customer Loyalty Through CRM Solutions

Learn how Customer Relationship Management (CRM) allows companies to gather customer data swiftly, identify valuable customers, increase loyalty with customized products and services, and reduce serving costs. Explore CRM activities such as one-to-one marketing, sales-force automation, and marketing encyclopedias. Discover examples of successful CRM projects at companies like Dell, BMG Music Service, and Holophane Corp.

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Achieving Customer Loyalty Through CRM Solutions

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  1. Customer Relationship Management IST 421 Fall 2004 Lecture 6

  2. Customer Relationship Management • CRM allows companies to: • gather customer data swiftly, • identify the most valuable customers over time, • and increase customer loyalty by providing customized products and services. • Reduces the costs of serving these customers • Makes it easier to acquire similar customers down the road.

  3. CRM as Corporate Strategy • Software used to identify customer needs - profile • Used to build long-term relationships • Build an integrated, company-wide profile of each customer • Present a single “face” to each customer • All customer contacts with the company are recorded in database

  4. CRM as Set of Activities • Some companies use sub-set of features for specific activities • Segmenting customers • Data Warehouse / Data Mining • Analyze and manipulate data • Looking for patterns in information • Looking for relationships unknown • Look at customers by volume, profitability, or other measures

  5. CRM as Set of Activities • One-to-One Marketing • Once a customer is categorized, products, promotions, and pricing are tailored • Cross-selling – related products • Upselling – higher-margin products in the same line

  6. CRM as Set of Activities • SFA (sales-force automation) • Customer contacts logged into database • Also called “lead management software” • Track transaction from initial lead to post-sale • Sales Campaign Management Software • Organize a marketing campaign • Compile results

  7. CRM as Set of Activities • Marketing Encyclopedias • Database of promotional literature about products • Routed to sales reps or customers as needed • Call Center Automation • Knowledge management database containing information about product • Customer service access to assist customers

  8. Customer Relationship Management • Most successful CRM projects begin with specific goals and objectives. • Cost reduction, • Revenue production • Sales efficiency

  9. Customer Relationship Management • Dell Computer Corp. • Customers enter orders for computers using web page. • Order goes to the shop floor, purchasing • Status of order is posted on web page for customer to see

  10. Customer Relationship Management • BMG Music Service • Web site contacts the data warehouse upon customer login • Customer’s web page is configured to offer music based on customer’s preferences

  11. Customer Relationship Management • Holophane Corp • Manufacture roadway lighting • Sales rep’s take orders, which are custom made • Implemented sales force automation software – order is uploaded to the home office • Customer queries can be answered by service representative using database

  12. Customer Relationship Management • What are examples we encounter everyday? • How do you feel about companies building these massive profiles of you?

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