What is Customer Relationship Management - (CRM)

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Presentation transcript:

What is Customer Relationship Management - (CRM) Latest fad or new business model ? You will have heard the term at conferences, read about it in magazines and possibly read the latest books about it Your client may already have a CRM Strategy But do they have a clear picture in their mind about what it is?`

Customer Relationship Management Characterised as being: ‘Customer Relationship Management (CRM) describes a fundamental business strategy to deliver appropriate personalised products and services and create and maximise customer life-time value.’

CRM means... Effective marketing database Targeted sales and marketing activity Value creation Immediate impact on bottom line Superior growth & profits

Why now? Shift from transactional to relationship marketing Re-structuring of organisations on a strategic basis from function to process Benefits of using information proactively Technology availability Seeing customers as business assets Trade-off between delivering and extracting customer value

What can CRM be? It can be a replacement term for Retention campaigns It is often used with Loyalty programmes It is nearly always referred too in the same breath as Call Centres Some organisations talk about contact strategies But what is it really about?

The question is…….. Customer Relationship Management Which What How Customers What Relationships How Delivered

CRM Model CRM Strategy Vision Routes to Organisation Market The model helps us understand: CRM Vision Strategy Routes to Market Organisation What we wish to achieve What customers, what relationship How to deliver

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