The Myths of Hosted CRM

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Topic 5:

As with any disruptive innovation, separating the reality from the mythical can be a challenge for any prospective customer trying to accurately evaluate choices and make an informed decision.

If the internet is down then the operation is down

Hosted solutions are only for small or midsize companies

Hosted solutions have only basic functionality

Hosted solutions can’t be customized

Hosted solutions do not require management

Hosted solutions are only available for Front office or CRM application

OPERATIONAL CRM

ANALYTICAL CRM

COLLABORATIVE CRM

Operational customer relationship management facilitates and streamlines communication with customers, and connects to customer touch points.

Physic al

Phone

Media

Wiki

Blog

Custome r Touch

Points

Email

Snail Mail

Web

Personal

Fax

Source: Elijah Ezendu, CRM

Sales Force Automation

Customer Service and Support

Enterprise Marketing Automation

This involves the whole sales process which comprise lead generation, lead qualification, needs identification, specifications development, development of proposal, handling objections, and closing sale.

Sales Administration

Sales Forecasting

Lead Management

Account Management

Performance Management

Tracking Customer Preferences

Tracking Customer Demographics

Contact Management

Quote Management

This involves automation and coordination of all the service operations and customer support processes which include service requests, product returns, customer complaints, and enquiries. These services and support can be provided through contact center, call center, web portal, or face-toface interaction at a remote location in the field.

This involves application of technology to marketing processes for provision of information pertaining to industry trends, macro-environmental factors and competitors.

This facilitates appropriate engagement and control of campaign management, eventbased marketing, cluster customer segmentation, individual customer segmentation, thereby increasing marketing efficiency.

Analytical customer relationship management focus on blending the customer data collected in Operational CRM with data from external sources in order to ascertain key customer identities and directions required for boosting organisational and customer values.

Financial Forecasting

Programme Evaluation

Price Optimization

Customer Satisfaction Evaluation

Customer Satisfaction Growth

Product Development

Fraud Detection

Risk Management

Contact Optimization

Sales Coverage Optimization

Customer

Acquisition

•Cross-Selling

•Up-Selling

Customer

Retention

•Retain current customers

Customer

Information

•Offer key information to customers effectively

Customer Touch Points

Customer Data Back Office

Practice

Strategy

Process

Data

Operation al

CRM

New Strategy

Analytical

CRM

Source: Siddiqi, Akhgar & Wise, Framework for Implementation of CRM Strategy in Retail Sector

Collaborative customer relationship management focus on exploiting interaction with customers through customer touch points for enhancing customer self service.

Online services for enhancement of convenience and cost reduction

Effective communication through many channels including automated phone, email and internet.

profiling customer information during customer interaction

Example: Web Page Personalization

Collaborative customer relationship management uses the output of Analytical customer relationship management to enhance the participatory strength of customers.

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