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Customer Relationship Management

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Govinda Dhirde

on 12 November 2013

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Transcript of Customer Relationship Management

Customer Relationship Management
What is Customer Relationship Management?
How CRM helps?
CRM at Shoppers Stop
References
Learning Outcomes
Gain an understanding of Customer Relationship Management (CRM) and its types.
Understanding the importance of CRM in winning and retaining customers.
Gain an understanding of the practical issues, steps and challenges involved in building a long-term customer relations.
Highlights of CRM implementation at Shoppers Stop.
What customer wants?
What goes into CRM?
Customer Loyalty Ladder
Summary
The success of any organizations predominantly depends on finding out what our customers want in terms in the right product at the right price at the right place with the right message employing the right people to believe in the right service ensuring that the process by what we give to the customers is fast, convenient and easy to understand.
CRM Services allow customer data to be shared across the company in order to create a customer-centric organization.
Shoppers Stop is an example of CRM loyalty program implementation to increase sales from the loyal customers by providing redeem points on purchases.
Three types of CRM
Operational CRM
- refers to products and services that allow an organization to take care of their customers.
Collaborative CRM
- is communication with customers and covers direct interaction with customers including feedback and issue reporting.
Analytical CRM
- addresses the analysis of customer data for a host of different purposes.
Case Study 2 By Govinda Dhirde
How customer is acquired and retained?
CRM is involved at each step to facilitate smooth acquisition and retention of customer.
Customer relationship management (CRM) is a model for managing a company’s interactions with current and future customers. [4]
It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.
It helps building, developing and maintaining long term profitable relationships between the firm and its customers.[2]
Why is CRM necessary?
Gather and access information about customer's buying histories, preferences, complaints, and other data so they can better
anticipate
what customers
will
want.
The goal is to instill better customer loyalty. CRM helps businesses use technology and human resources to gain insight into the behavior of the customers and the
values
of those customers.
Identify the most
profitable
customers.(Pareto's Principle 80:20)
Why I selected CRM?
Shoppers' Stop is one of the leading retailers in India.
Shoppers Stop
First Citizen Club (FCC)
was the first
loyalty programme
in the retail category in India that was launched in the year 1994.
The Shoppers Stop First Citizen loyalty programme has emerged as the largest and most successful programme in the Retail sector with 2.5 million loyalty members’ base, and growing.
CRM system helped to store details related to FCC loyal customers and define strategies to increase sales using these customers. [7]


What is First Citizen Club?
A person can become a First Citizen Club member by registering at the store.
The club provides membership to the frequent customers in three stages - Classic moment, Silver Edge and Golden Glow.
FCC program uses structured marketing strategies that encourage loyal buying behavior of customers.
It drives the idea of "ultimate shopping experience"


Benefits with FCC
Customers gain reward points each time they shop at Shoppers Stop stores or shoppersstop.com
Exclusive benefits & privileges
Exclusive offers on purchase
Updates on various products at Shoppers Stop
Exclusive cash counters which help customers to spend more time shopping than waiting in a queue


How FCC helped Shoppers Stop?
4000 FCC members in 1994 to 2.5 million FCC members in 2013.
First Citizen Program contributes nearly over 50% of Shoppers Stop.
15% of walk-ins on any day are FCC members.
Shoppers Stop Ltd (SSL), reported a gross retail sales of Rs 515.9 crore for the quarter ended December 31, 2010. [7]


SAP 360 Customer
Shoppers’ Stop implemented
SAP 360 Customer CRM software
which helped them revolutionize the way they engaged with their customers.
SAP 360 Customer offers transaction, text and analytics processing on one platform.
It creates a 'fast data' CRM, through high-performance repository that can be exploited by sales, marketing, service, and e-commerce.
It paints a "360-degree view" of a customer through a combination of transactional data, social networks and other sources. [4]

Database Management -
Firms can maintain thousands of customer contacts in the CRM database. This is one stop repository for all the customer data. Users can create and update contacts regularly.
Key Account Management (KAM)
- KAM is a radically different organizational process used by business-to-business suppliers to manage their relationships with strategically-important customers, and it produces measurable business benefits.
Loyalty Schemes
- CRM can identify loyal customers using loyalty schemes to enhance more better relationship.
Internal Marketing
- Internal marketing is a process that takes place within the company, making the employees feel as if they're the customer, so that they learn to more easily promote the company's products and goals.
Continuous Costumer Research
- CRM helps identify leads to new customers and helps knowing and understanding existing customers. [1]
Advantages through SAP 360 Customer
SAP 360 Customer loyalty program help you better understand
customer preference
and
spending habits
while
monitoring
,
reinforcing
and
rewarding
desired behaviors.
It combines
transactional
and
external data
for a complete, 360° view of your customers.
Accurately predict
future behavior.
Monitor and analyze
social media sentiment
– and proactively engage with your customer.
Personalize offers
based on customer profile, context, past interactions, and current location. [4]

CRM helps
deliver value
the way customer want it delivered.
It helps
identify target audience
and pay attention to most profitable customers without neglecting rest.
Respond to
customer feedback
and take action accordingly.
Use multiple touch points -

email, web sites and social media to
find target customers.
Maintain effective customer data
to help management, marketing and sales teams.


[1] Author - Kaushik Mukerjee (August, 2009) "CUSTOMER RELATIONSHIP MANAGEMENT: A STRATEGIC APPROACH TO MARKETING"
[2] Author - Alok Kumar Rai (2008) "Customer Relationship Management - Concepts and Cases"
[3] White paper - Syspro [March, 2005] - "How to embrace CRM and make it successful in your organization"
[4] Web source - "CRM" - http://en.wikipedia.org/wiki/Customer_relationship_management
References (cont.)
[5] Web source- "CRM Overview" - http://www.bitpipe.com/crm/crm_overview.jsp
[6] Web source - "SAP 360 Customer" - http://www.sap.com/solution/lob/sales/software/sap-360-customer/index.html
[7] Web source - "CRM Shoppers Stop" - http://www.studymode.com/essays/Crm-Shoppers-Stop-1493253.html

RM
Thank You!
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