Customer
Relationship
Management
INSC 60040: Managing Information
Technology Research Project
Presented by:
Austin Denny
Carson Linstead
Darren Martin
Jennifer McDonald
CRM by Definition
1) A management philosophy according to which a company’s
goals can be best achieved through identification and
satisfaction of the customers’ stated and unstated wants and
needs.
2) A computerized system for identifying, targeting, acquiring,
and retaining the best mix of customers.
CRM Fundamentals
Most normal CRM systems are divided into 3 main modules:
•Marketing
•Allows marketing team to plan long and short term marketing activities
•Sales
•Structure the sales team processes from pre-sales through quotations and deal
closures
•Customer Service
•Software that allows you to effectively manage your company’s customer support
capability
CRM Benefits
• Tailored messaging to the best audience at the best time
• Identifies consumer need before individual consumers
• Simplifies communication with clients in B2B setting
• Efficient ad spending by narrowing targets and increasing likelihood of purchase
• Boosts new business through lower customer acquisition costs
• Improves user experience in both digital and analog environments
• Promotes internal collaboration by centralizing data
CRM Issues
Crafting a cohesive CRM strategy
• Inadequate deployment methods
• Unclear business objectives
Integration with current IT framework
• Rebuilding customer-facing processes (POS, website, etc.)
• Creating database accessibility within existing company-side software
Management + Training
• Creating an environment that promotes adoption
• Obtaining and organizing good data
• Do not allow customers to feel that their privacy has been violated
Overcoming Problems/Limitations with CRM
• Assemble a cross-functional team to determine specific,
measurable goals for the initiative
• Encourage user adoption
• Don’t overwhelm your employees
• Train team leaders
• Offer incentives
• Hire IT consultants with experience in integrating CRM
software
• Develop subtle marketing strategies that do not allow the
customer to feel overtly targeted
Future Uses of CRM
• Heavy use of third-party data to improve insights
• Outside consulting on segmentation strategy
• Predictive analytics reaching small businesses
• Blending of consumer purchase behavior with cross-device
online behavior data
• Social CRM and real-time brand monitoring through event
listening
Importance of CRM to Modern Organizations
• Maintaining relationships in B2B and B2C environments
• Communicating intelligently with consumers in any business
that requires repeat patronage
• Closing the product and service planning loops using market
data
• Tracking of all customer interactions
• Reveals strategic opportunities
Summary
• Use CRM to find your best customers and how to get more of them!
• Find ways to get greater income from existing customers
• CRM enables more streamlined interactions with customers and
prudent spending of a company’s resources
•Discuss applications and cost savings with your leader today!
• CRM software is worth the investment if clean data is available
•Effort must be invested on the front end to ensure that information of
interest is captured and is consistent
Bibliography
• http://www.businessdictionary.com/definition/customer-relationshipmanagement-CRM.html
• http://smallbusiness.chron.com/should-value-crm-organization-5046.html
• http://www.targetmarketingmag.com/article/6-common-problems-with-crmdata/all/
•http://www.businessballs.com/crmcustomerrelationshipmanagement.htm
•http://www.preact.co.uk/why-crm/how-businesses-benefit-from-crm
•http://gospelsoundtracks.com/christian-accompaniment-tracks-gospelsoundtracks/wp-content/uploads/2013/04/dynamic-microphone-sm58.jpg