Customer Relationship Management (CRM) is a comprehensive strategy and process to acquire, retain, and partner with selective customers. It focuses on putting customers at the core of a company's processes and practices through strategic planning, marketing techniques, and relationship building. CRM uses technology to achieve ongoing dialogue with customers across all contact points and provide personalized treatment to valuable customers to increase retention and marketing effectiveness. It involves targeting, understanding, attracting, qualifying, and developing loyal customers over their lifetime with a company.
Chapter 14: Impact of CRM on Marketing Channelsitsvineeth209
This document discusses the impact of customer relationship management (CRM) on marketing channels. It explores how traditional and emerging channels influence CRM strategies and opportunities and challenges around managing multi-channel customer relationships. Key topics covered include the role of channels in customer relationships, drivers of multi-channel buying behavior, and implications of new channel trends for CRM approaches.
The document discusses customer relationship management (CRM) and the role of salespeople in developing customer relationships. It provides definitions of CRM as a business strategy focused on maintaining long-term relationships with customers. The summary also describes the stages of CRM relationships, from initial contact to partnership, and functions of CRM like identifying customer needs and providing support. Finally, it outlines the salesperson's role in initiating, developing, and enhancing relationships through activities such as understanding customer needs and illustrating the value of the relationship.
This document discusses customer relationship management (CRM). It defines CRM as creating and enhancing individualized customer relationships to maximize lifetime customer value. CRM originated in the 1970s to deal with customer relationships beyond individual business transactions. The purpose of CRM is to create value for both customers and companies over the long term by providing good customer service and gaining a competitive advantage. CRM involves acquiring, retaining, understanding, and differentiating customers through interactions and delivering on their needs over the business cycle. The benefits of CRM include reduced costs, increased customer satisfaction and retention, and long term profitability.
This document provides an overview of customer relationship management (CRM) concepts and practices. It defines CRM, discusses the emergence of CRM with new technologies, and provides examples of successful CRM programs. It also outlines key aspects of developing a CRM strategy, including constructing a customer database, analyzing customer data, selecting target customers, developing relationship programs, and measuring CRM program impact. The document emphasizes the importance of customer retention over acquisition and discusses how CRM can be used to improve the customer experience.
Customer relationship management (CRM) refers to the process of creating and maintaining relationships with customers through an integrated approach. The goal of CRM is to improve customer retention and profitability by delivering enhanced customer value at each step through identifying, attracting, differentiating, and retaining customers. Key aspects of CRM include analytical CRM to gain insights from customer data, operational CRM to manage customer interactions, and collaborative CRM to facilitate information sharing. Common CRM activities involve sales force automation, customer service, marketing automation, and field service management.
Customer relationship management (CRM) involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. The key aspects of CRM include understanding customer needs, increasing customer satisfaction and loyalty, and reducing costs by resolving complaints efficiently. CRM systems aim to understand current and potential customers in order to maximize their lifetime value. Operational CRM provides support for front-office customer interactions while analytical CRM analyzes customer data to understand behavior. Collaborative CRM enhances collaboration with customers and partners. Measuring customer satisfaction is important for retaining customers and improving business performance.
This document provides an overview of marketing concepts including definitions of marketing, the modern concept of marketing, features of marketing, marketing management, differences between marketing and selling, marketing philosophies, functions of marketing, the role of marketing, elements of the marketing mix including product, price, place, and promotion. It also discusses products and their classification, branding, packaging, labelling, pricing factors, channels of distribution, and factors that determine the selection of distribution channels. The key topics covered include understanding what marketing is, its importance for businesses and the economy, and the various tools and strategies used in marketing management.
The document discusses the marketing mix, which comprises the 7Ps - product, price, promotion, place, people, process, and physical environment. It explains each element of the marketing mix and how businesses use different combinations of these elements to meet their marketing objectives depending on factors like their target market and competitors. Specifically, it covers how the marketing mix is applied in the travel and tourism industry, focusing on elements like developing products and services, setting prices, promoting to target audiences, and deciding on distribution channels and locations.
Customer Relationship Management (CRM) is a strategy for managing a company's interactions and relationships with customers using technology to organize customer data. CRM aims to acquire new customers, enhance existing customer relationships through personalized service, and retain customers. It involves identifying the best customers, generating sales leads, and implementing targeted marketing campaigns. CRM software and tools help companies learn customer needs, build relationships, and provide customer service. The goal is to increase efficiency, minimize costs, and attract and retain customers.
Role of customer relationship manger in the organization and explain the role with call center management.Expectation from customer relationship manager in organisation.
CRM is a competitive strategy and process of acquiring, reacting and partnering with selective customers to create superior value for the company and the customer.
This document discusses several marketing management philosophies, including the production concept, product concept, selling concept, marketing concept, societal marketing concept, and holistic marketing concept. The production concept focuses on high production and wide distribution. The product concept emphasizes product quality, performance, and features. The selling concept is based on aggressive selling methods. The marketing concept focuses on understanding customer needs and satisfying them better than competitors. The societal marketing concept balances business, customer, and societal interests. The holistic marketing concept integrates all marketing activities and recognizes their interdependencies.
This document provides an overview of customer relationship management (CRM). It discusses the history and evolution of the CRM market, including major vendors. CRM involves using technology to manage relationships with customers by understanding their needs and preferences on an individual level. The document defines CRM, discusses drivers for adopting CRM applications like increasing revenue and reducing costs, and examines the size and structure of the CRM industry. It also explores key technologies used for CRM tasks, considerations for ROI of CRM projects, principles and issues of CRM, and provides case studies of companies that have implemented CRM.
Customer Relationship Management unit 3 crm structuresGanesha Pandian
The document discusses Customer Relationship Management (CRM) and provides information on key aspects of implementing a successful CRM strategy. It defines CRM and outlines its goals of increasing profitability through customer satisfaction and loyalty. The document also discusses CRM essentials, the CRM implementation process, customer acquisition strategies, retention tactics, and developing a CRM roadmap.
The document discusses various strategies for improving customer retention rates. It outlines factors that influence customer retention such as service quality, satisfaction, and loyalty. It then describes several models for understanding the customer retention process and analyzing customer value and segmentation. Finally, it provides examples of tactics for enhancing retention rates such as customer relationship management, targeted programs, and measuring retention through metrics like lifetime value and RFM analysis.
The document provides an overview of customer relationship management (CRM). It discusses how CRM is a comprehensive strategy and process to acquire, retain and partner with selective customers to create value for both the company and customer. CRM leverages technology, strategic planning, marketing techniques and organizational development tools to build internal and external relationships that increase profits and productivity. It also examines the CRM lifecycle and different CRM programs focused on continuity marketing, one-to-one marketing, and partnering/co-marketing.
CRM involves developing and maintaining long-term, mutually beneficial relationships with strategically important customers. It is based on trust and value and aims to deliver superior customer value over time. Relationships develop through different stages from initial interactions to long-term partnerships. Salespeople play a key role in building and promoting relationships by understanding customer needs and adding value at each stage of development. The goal of CRM is turning prospects into loyal, profitable customers through effective relationship management.
What is Data Mining?
The process of determining useful patterns and relationships in big data through algorithms, to extract knowledge from data warehouses.
Role of Data Mining in CRM:
1. Get a holistic view of customer life-cycle
2. More data will result in accurate models
3. Leverage forecasting and descriptive modeling techniques
4. Have a proactive approach with predictive analytics
How will Data Mining Benefit my Business?
1. Conduct Basket Analysis for better stocking, store layout, and promotion strategies
2. Sales Forecasting to optimize your sales, supply chain and financial management
3. Predictive Lifecycle Management for each customer to segment them accordingly
4. Optimal Allocation of company’s resources for enhanced productivity and better ROI
5. Product Customization by predicting features that meet the customer’s demands
6. Database Marketing for a defined target market, personalized campaigns, and promotional offers
7. Predict Warranty Claims by the customers and their average cost to have efficient management of funds
8. Fraud detection by analyzing past fraudulent transactions and taking corrective measures
Techniques of Data Mining in CRM
1. Clustering – Identify similar data sets and understand both similarities and differences in data to increase conversion rates
2. Classification – Gather all information about a data set and classify it into proper categories.
3. Anomaly Detection – Information that does not match the expected behavior or projected pattern, providing actionable information
4. Association Rule Learning – Uncover hidden patterns from the data to better understand your customer’s habits and predict their decisions
5. Regression – Find dependency between different data items and map out the effect of variables on each other. It helps in determining customer satisfaction levels and its impact on customer loyalty
Read our entire blog here: https://www.rolustech.com/blog/data-mining-crm
The document discusses developing a customer relationship management (CRM) strategy. It explains that a CRM strategy states how an organization intends to acquire, develop and retain a valuable customer base. Only 10-15% of companies truly understand the value of their customers. The document provides examples of CRM strategies that segment customers by value and profitability to target retention and acquisition programs. It also stresses that the CRM strategy must be aligned with other business strategies and fit within the overall brand proposition.
How Marketing Automation is Transforming Financial Services Firmsedynamic
This document discusses marketing automation in the financial services industry. It finds that adoption of marketing automation is currently low in financial services at around 4-6% penetration. Some key challenges for financial services include complex sales channels, large buyer segments, and compliance requirements. The document then outlines steps for a successful marketing automation strategy, including understanding buyers, creating a content strategy, developing a lead management architecture, focusing on best of breed technology, reporting, and managing compliance.
The concepts of customer relationship management (CRM) and knowledge management (KM) both focus on allocating resources to supportive business activities in order to gain competitive advantages.
Definitions
Concepts and context of relationship management
Evolution
Transactional Vs relationship approach
CRM as a strategic marketing tool
CRM significance to the stakeholders
coMMERCE rELATED fILE mANAGEMENT sCIENCES.pptxSameer63064
Customer Relationship Management (CRM) involves understanding customers and managing relationships to maximize customer lifetime value. It has evolved from mass marketing in the 1960s to focus on customer retention and relationship building. CRM uses integrated software and databases to support customer-focused processes across acquiring, retaining, and understanding customers. The objectives of CRM are to create value for both customers and the company through competitive advantage, increased customer service, and lower marketing costs.
The document describes a promotional scheme run by an advertising agency for Cello thermoware in Mumbai, where teams of callers rang 33,000 random phone numbers in the city and those who answered with "Cello" instead of "Hello" were eligible to win a free product. The unconventional idea of calling people and having them say "Cello" proved very successful at achieving top-of-mind awareness of the brand, with over 3,800 winners receiving prizes over the week-long promotion period in Mumbai. The creative marketing scheme was praised for being an "accha idea" or good idea that generated significant awareness for Cello thermoware products.
This presentation provides a holistic view on all stages of the marketing process and how they converge with CRM enabling a 360 degree customer centric business approach.
Marketing consists of activities that direct the flow of goods and services from producers to consumers. It involves creating and delivering value for customers. Marketing is an organizational function for managing customer relationships to benefit the organization. Customer relationship management (CRM) aims to optimize customer satisfaction and profits through understanding customer segments and linking customer-facing processes. CRM systems track and store customer data to understand customers and increase relations. Customer loyalty programs are structured marketing strategies to encourage repeat business and discourage customers from switching to competitors.
This document discusses best practices for customer relationship management (CRM) implementation in the luxury retail sector. It provides an overview of current CRM challenges in luxury retail, including identifying customers across disparate channels and measuring salesperson effectiveness. It then summarizes findings from reports on CRM practices in retail, including the use of loyalty programs and real-time customer data. Finally, it proposes a conceptual framework for CRM in luxury retail based on providing personalized customer experiences and generating customer insights to refine business actions.
The document discusses customer relationship management (CRM) and its evolution since the 1960s. It defines CRM as an integrated system using software and databases to manage customer-focused business processes throughout a customer's relationship with a business. The objectives of CRM include creating customer value, gaining competitive advantage, and increasing customer service and efficiency. Traditional CRM focuses on automation, while strategic CRM aims to build high-value customer relationships. Information technology plays a key role in CRM through personalized communication. The implementation of a CRM system requires a strategic review and selection of appropriate technologies and partners.
13 Teams
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Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
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Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
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The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
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Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
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Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
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Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
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Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
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As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2..
This document discusses customer relationship management (CRM) strategies and tools. It provides a history of CRM from the late 1980s to the present day. It then discusses key CRM concepts like building customer-focused businesses, maintaining customer relationships over time from prospects to partners, and using CRM tools for sales, marketing and customer service functions. Specific company examples of CRM implementation are also summarized.
The document discusses strategic customer relationship management (CRM). It defines strategic CRM and its key components, including customer management orientation, integration and alignment of organizational processes, and information capture and alignment of technology. It also presents a case study of IBM's CRM implementation, which delivered $2 billion in cost reductions and other benefits through an integrated process enabled by CRM. The summary discusses the key aspects and lessons from IBM's large-scale CRM implementation.
CRM aims to maximize customer lifetime value through analyzing customer data and interactions. It is linked to database marketing which uses customer data to segment customers and develop tailored marketing campaigns. CRM applies this at the individual customer level. Rapid changes in customers, technology, and the marketplace have increased the need for customer-centric strategies and data-driven approaches like CRM to understand customers and improve relationships.
The document discusses Customer Relationship Management (CRM). It explains that CRM involves collecting customer data, analyzing it to identify target customers, developing CRM strategies, and implementing those strategies. CRM aims to improve customer satisfaction and enhance sales through better management of relationships with customers. It allows organizations to provide personalized customer service, increase customer retention, and gain insights into customer behavior. The key aspects of CRM include operational CRM, analytical CRM, collaborative CRM, and geographic CRM.
The document provides an overview of chapters 9.1 and 9.2 from the textbook "Business Driven Information Systems 2e".
Chapter 9.1 discusses customer relationship management (CRM), including operational CRM which supports front-office customer interactions, and analytical CRM which supports back-office analysis. It describes how different departments can use CRM technologies and metrics.
Chapter 9.2 discusses business intelligence (BI) which analyzes data to support decision making. It describes the challenges of managing large data volumes and how BI can provide reliable, consistent insights through operational, tactical and strategic analysis. Data mining tools are used to find patterns in large datasets.
CRM is a business strategy that aims to optimize profitability, revenue, and customer satisfaction by organizing processes around customer segments and fostering customer-focused behaviors. It should be an enterprise-wide initiative where a company defines how it will manage customer value and loyalty and implements the necessary capabilities. CRM technologies provide greater customer insights, access, interactions across channels, and integration between customer-facing and back-office functions.
1. The document discusses identifying and profiling high value business customers in order to develop targeted promotions to increase average revenue per user (ARPU) and profitability.
2. It examines how to assess customer relationship management (CRM) systems used to collect customer data and determine customer value through segmentation and clustering.
3. Examples are provided of tailored promotions that were developed for high value business customers based on their needs and behaviors.
THE GROWTH ANALYSIS OF UNIFIED PAYMENTS INTERFACE (UPI) IN INDIA.docxVARUN KESAVAN
Interoperability among “payment systems in India has facilitated unparalleled ease of transactions while robust customer protection measures have made India’s retail payment system one of the safest in the world.
Unified Payments Interface (UPI) is a mobile-based, 365x24x7 ‘fast payment’ system launched in August 2016 which allows users to send and receive money instantly using a Virtual Payment Address (VPA) set by the user itself. The unique feature of VPA-based transaction is that it obviates the need for sharing account or bank details to the remitter. It supports person-to-person (P2P) and person-to-merchant (P2M) payments which can be used over a smart phone (app-based) or a feature phone (USSD8-based), and at merchant location/website. It facilitates immediate money transfer through both ‘pull’ and ‘push’ payments.
Non-financial transactions, such as balance enquiry, can also be carried out using UPI. It powers multiple bank accounts into a single mobile application of any participating bank/non-bank Third Party Application Provider (TPAP). Funds can also be transferred through UPI using account number with and IFSC (Indian Financial System Code) of the bank branch. The UPI 2.0 was launched in August 2018, which enabled users to link their Overdraft accounts to UPI VPA. Users are also able to pre-authorise transactions by issuing a mandate for specific merchant for a one-time payment. There’s also an added feature of AutoPay facility for recurring payments.
The framework of UPI comprises NPCI as switching and settlement service provider and banks as Payment System Providers (PSPs) – as issuer banks and beneficiary banks. Additionally, it can also have Third Party Application Providers (TPAP) such as Google Pay. Transactions are carried out through mobile devices with two-factor authentication using device binding and UPI PIN as security. Currently, the per transaction limit is INR 0.2 million.
UPI has attracted participation from a number of FinTech players. As against banks, it is the non-bank players who have made good use of the openness of UPI architecture, which allows any entity’s mobile application to be used for doing UPI transactions. Since its humble beginning in 2016, UPI has become one of the most popular payment products in India. Convenience of remembering and sharing a simple UPI VPA may have added to its popularity”.
On the whole we can observe there is a significant increase in the number of UPI transactions both in terms of volume and in terms of value. Similarly, from 17.86 million transactions in financial year 2016 – 2017 to 22,330.65 million transactions in the year 2021 – 2022 with the CAGR of 228%. Similarly with reference to value of transactions there is a increase in the value of transactions from Rs. 69.47 billion transactions in the year 2016 – 2017 to Rs. 41,036.54 billion transactions in the year 2021 – 2022 with the CAGR of 190%. UPI is going to be a catalyst in the retail payments sector in India.
WILL ROBOTS REDUCE OR INCREASE HUMAN EMPLOYMENT OPPORTUNITIES?VARUN KESAVAN
According to Binus Square Student Committee, Technology is disrupting the economy at many levels, and many worry about losing their jobs to automation. The truth is that this isn’t anything new—we’ve been through this already with the Industrial Revolution.
Back then, employees also thought there would be no room for humans at work. Machines were taking over, and their jobs were less valuable every day. But humans are still part of the equation; machines didn’t replace us—we use them to make our jobs more productive.
Today, we can expect a significant change in the way we handle our work, and we’ll probably have to learn new skills to future-proof our lives. The only difference between the previous industrial revolutions and today’s robotics revolution is the speed at which it is taking place.
According to a recent Oxford study, there will be 14 million robots in China’s workforce within the next 11 years. Artificial Intelligence, machine learning and robotics are accelerating the pace of automation in the workspace. However, there will always be jobs for humans. Now, let’s explore whether robots will reduce human employment or not.
GLOBAL TOURISM SECTOR TO SUFFER $1.2 TRILLION DUE TO COVID-19 PANDEMICVARUN KESAVAN
Global tourism sector is set to lose at least $1.2 trillion due to the spread of coronavirus. Let's take a look at the impact.
The world's tourism sector could lose at least $1.2 trillion or 1.5 per cent of the global gross domestic product (GDP), having been on a standstill for nearly four months due to the coronavirus pandemic. The loss could rise to $2.2 trillion or 2.8 per cent of the world's GDP if the break in international tourism lasts for eight months, in line with the expected decline in tourism as projected by the UN World Tourism Organisation.
In the most pessimistic scenario, a 12-month break in international tourism would incur an estimated losses of $3.3 trillion or 4.2 per cent of global GDP. In absolute terms, the world's largest trading economies, USA and China would face the largest declines in GDP, in the moderate scenario.
Negative employment and wage effects would be highest in countries reliant on tourism. The steepest drops are estimated in Thailand (-12 per cent), Jamaica (-11 per cent), and Croatia (-9 per cent).
In the long run, the World Travel & Tourism Council anticipates that the international tourism sector will likely return to pre-pandemic levels within a 19-month period.
THE AFTERMATH EFFECTS OF CORONAVIRUS PANDEMIC ON THE INVESTMENTS IN REAL ESTA...VARUN KESAVAN
The COVID-19 pandemic has severely impacted real estate investments in India. Private equity investments in Indian real estate dropped by 93% in 2020 compared to the previous year. Residential real estate witnessed a 91% year-over-year decline in investments. Office investments also declined, dropping 81% in the first five months of 2020 versus the same period the previous year. The pandemic-induced lockdown slowed overall real estate investment activity and leasing in India.
THE JOURNEY BEHIND THE GLORY OF LARGEST ONLINE NEWS PLATFORM DAILYHUNTVARUN KESAVAN
We no longer have to wait for the newspaper to get the latest news, nor do we require to wait till we reach home and switch on the TV to know the breaking news. With mobile phones and fast and cheap internet services, news and information is now much easier to access. An entrepreneur, Virendra Gupta could foresee this situation even before it actually arrived, which led him to acquire Newshunt in 2012, which is currently known as Dailyhunt. Today Dailyhunt procures content from over 1000+ publishers and is getting much popularity as the content is available in 14 Indian regional languages. Lets have a look at the journey of this top Indian startup.
THE PATH BEHIND THE SHINING OF PAYMENTS APP MOBIKWIK VARUN KESAVAN
Using a Mobile Wallet has now turned out to be a habit of many. Easy hassle-free payment and no worries about hunting for change every time you purchase something probably is a major benefit of using a mobile wallet. While today many international players are providing mobile wallet services in India, MobiKwik is one of the pioneer Indian mobile wallet companies, that despite much competition has carved a niche for itself.
THE JOURNEY BEHIND THE GLORY OF ONLINE TRAVEL KING MAKEMY TRIP VARUN KESAVAN
India’s leading online travel company MakeMyTrip.com was founded in the year 2000 by Deep Kalra. Headquartered in Gurugram, Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets.
As of March 31, 2018, the company has 14 company-owned travel stores in 14 cities, including one in their office in Gurugram, over 30 franchisee-owned travel stores which primarily sell packages in approximately 28 cities, and counters in four major airports in India under their brand. They also have offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.
THE JOURNEY BEHIND THE SHINNING OF ONLINE INSURANCE AGGREGATOR POLICYBAZAARVARUN KESAVAN
PolicyBazaar is India’s leading aggregator and marketplace of insurance products. Established in 2008, PolicyBazaar initially just compared the prices of insurance policies and provided insurance related information. Now, PolicyBazaar not only assists customers in buying insurance policies, but also provides assistance for cancellation/renewal of policies and even claim settlement.
PoicyBazaar is the marketplace for all insurance needs. It provides every thing from, life insurance, health insurance, motor insurance and other insurance like travel insurance and group insurance etc. The company offers more than 250 insurance plans and around 50 insurance brands on its platform. T
he platform is designed in a way that the visitors can easily compare the insurance plans and buy plans as per personal insurance needs.
The company is constantly adding new features and technology to make customer experience smoother. PolicyBazaar introduced 'my account' feature some times back. Through PolicyBazaar's 'My Account' feature, customers can easily download a policy, raise a ticket, ask for clarification and upgrade policies. The company introduced self inspection video feature for revival of lapsed motor insurance.
PolicyBazaar also adopted Amazon Polly and developed in-house AI chatbot - PBee to improve customer satisfaction.
In 2015, PolicyBazaar app was launched. The app is available for android and iOS platform. A customer can not only search, compare and buy insurance through the PolicyBazaar app, but there are also interesting features like hospital locator, garage locator, insurance premium calculator, instant renewal of insurance policies, claim assistance and more.
THE ROAD BEHIND THE GLORY OF GROCERY GIANT GROFERSVARUN KESAVAN
Grofers is an Indian online grocery delivery startup founded in 2013 by two IIT graduates. It operates in 28 Indian cities. Initially, the founders facilitated grocery deliveries from local stores and supermarkets for customers. They aimed to provide one-stop delivery for local needs by partnering with shops. Grofers works on a marketplace model, partnering with local grocery shops to fulfill online orders placed through its app, charging the shops commissions ranging from 8-15%. While Grofers has seen success, it also faced initial challenges including delayed service, product quality issues, and shutting down operations in some cities.
THE RELIANCE JIO WHICH TRANSFORMED THE FACE OF INDIAN TELECOM INDUSTRYVARUN KESAVAN
When Anil Ambani and Mukesh Ambani had a split in the year 2005 it was one of the biggest de-merger in the industry. The dream project of Mukesh Ambani that was Reliance Infocom became a part of Anil Ambani Group. Further Mukesh Ambani went on to acquire the company Infotel Broadband Services Limited which was the only successful bidder across India for the 4G network.
That is when Mukesh Ambani’s Reliance Limited started working in establishing a base for high-speed optical fiber 4G network which is much more capable than 4G. The company was named Reliance Jio Infocom Ltd popularly known as Jio today. Jio was the first network to provide 4G LTE services and VoLTE services.
Jio launched this service on 5th September 2016 for all the users and also launched its smartphone series with the name LYF. Reliance Jio Infocom Ltd (RJIL) focused on high-speed data instead of voice and SMS. On its launch, the company announced data plans with 1GB 4G data per day in the market where mostly all popular telecom providers offered 1GB data per month.
This was a game-changer by RJIL in the price-sensitive market of India as the prices before that revolved around Rs.250-300 for 1 GB 4G data which went down to Rs. 5 per GB during the initial days. With such amusing plans gradually Jio also offered free voice calling and free 100 SMS per day for all its Prime members.
THE NOTABLE CONTRIBUTIONS MADE BY CORPORATE GIANTS DURING THE OUTBREAK OF THI...VARUN KESAVAN
Tata Trusts and Tata Sons have combined committed Rs 1,500 crore towards coronavirus relief work. Chairman of Tata Trusts, Ratan Tata committed Rs 500 crore towards manufacturing of personal protective equipment, respiratory systems, testing kits and setting up modular treatment facilities and training of health workers. Following which, Tata Sons announced an additional Rs 1,000 crore support towards coronavirus fund. This is by far the biggest contribution by a business group in India. Out of the total fund, Rs 500 crore has been contributed towards PM-CARES fund.
Philanthropist Azim Premji's companies Wipro Ltd, Wipro Enterprises Ltd and Azim Premji Foundation, have together committed Rs 1,125 crore. Of the Rs 1,125 crore, Wipro Ltd's commitment is Rs 100 crore, Wipro Enterprises Ltd's is Rs 25 crore, and that of the Azim Premji Foundation is Rs 1,000 crore. These sums are in addition to the annual CSR activities of Wipro, and the usual philanthropic spends of the Azim Premji Foundation.
Mukesh Ambani-led Reliance Industries (RIL) has donated Rs 510 crore to the coronavirus relief work. This includes contribution of Rs 500 crore to the PM-CARES Fund and Rs. 5 crore each to the Chief Minister's Relief Fund of Maharashtra and Gujarat. RIL has also setup a 100-bed centre for COVID-19 patients at a hospital in Mumbai.
THE ATTRIBUTES BEHIND THE GLORY OF DELIVERY KING SWIGGYVARUN KESAVAN
INTRODUCTION
Swiggy is a food delivery application. It allows the users to access their application from Android, IOS, and website, to order food from nearby restaurants, delivering at an estimated time of 30 minutes at the doorstep. They partner with restaurants, have delivery services, and provide ratings that help the customer in picking eateries accordingly. At the time delivery of an order, a customer is entitled to give feedback, rate the food and the delivery services, which help the application, give the customer the best experience by gathering all data.
The company recently started with the tagline, ‘No order too small’, that is no minimum order for delivery, and faster delivery became the USP of the company. The company’s target audience is people who use smartphones regularly, 18-35 demographic. The tagline of Swiggy is, ‘Swiggy karo, phir jo chahe karo!’ which appears in the advertisements of Swiggy.
THE INCEPTION OF SWIGGY
In the year 2013, Sriharsha and Nandan came together to build a product that would connect courier companies across the country, called Bundl. Bundl was not such a huge success and these two co-founders wanted to focus on the food industry. They met Rahul who helped build the software. Hence, Swiggy was born in August 2014.
When Swiggy came to the market, the food delivery sector already had applications like Foodpanda, Tinyowl, and Ola Café. Foodpanda and Tinyowl were later acquired by Ola Cabs and Zomato respectively and Ola café later got closed. While all these companies were struggling, Swiggy already had around 100 restaurants on board, with around 70,000 orders monthly. They also received a cheque of $2 million from Accel and SAIF Partners in the year 2015. This is how the company began with a kick start.
Swiggy started in the year 2014, as a food delivery app. Eventually, Swiggy expanded in size and is working in 100 cities in India at present. In 2019, Swiggy also started its business in delivering packages to businesses and clients, with the application called, Swiggy Go.
THE INITIAL HI-CUPS FACED BY SWIGGY
Swiggy has both technical and non-technical issues that arise regularly. It is a challenge for Swiggy to calculate an estimate for each order made and making sure it gets delivered at the said time. The app also has a feature of rating for both the delivery services and the food served by restaurants; they gather this data and ensure to give the best experience to the customers.
THE BUSINESS AND REVENUE MODEL OF SWIGGY
The application works on the business model of hyper-local on-demand food delivery. Swiggy gets restaurants as partners that supply food to the customers. It has several delivery partners who aim at delivering food in less than 30 minutes. The revenue collected by Swiggy at the year ending March 2019 was Rs. 1, 128 crore.
THE LIFE SPAN OF DEADLY CORONAVIRUS ON DIFFERENT SURFACESVARUN KESAVAN
Coronavirus which has affected more than 5 lakh people and killed more than 24 thousand across the world till March 27 is spreading fast. The novel virus can spread through infected surfaces and can live between 3 to 72 hours hours on different surfaces such as plastic, metals, cardboard and even air.
As per a study published in New England Journal of Medicine, coronavirus (SARS-CoV-2) can be detected in air upto three hours. A person is more likely to catch the infection from air through an infected person rather than the surfaces that have the virus.
On copper, coronavirus can survive for upto 4 hours. As per the study, no traces of the virus could be seen or measured post the four-hour time-frame. Disinfecting the copper surface from time to time is a precautionary measure that can be used.
Coronavirus can live for a day on cardboard surfaces. As per the study, the virus (SARS-CoV-2) can survive for upto 24 hours on surfaces that are made out of cardboard. However the study also said that replicate data were noticeably "noisier" for cardboard than for other surfaces.
On objects and surfaces made of stainless steel, coronavirus can survive for upto 48 hours. The estimated median half-life of the virus was approximately 5.6 hours on stainless steel. The study published in New England Journal of Medicine notes that no visible virus (SARS-Cov-2) was measured after the 48-hour time period.
Coronavirus can live for upto 3 days on plastic surfaces. The SARS-COV-2 virus was more stable on plastic as compared to other surfaces such as metals and cardboard. The estimated median half-life of the virus was approximately 6.8 hours on plastic surfaces.
THE REPERCUSSIONS OF CORONAVIRUS' ON INDIA'S IMPORTS FROM CHINAVARUN KESAVAN
China's share in India's imports stand at 14 per cent. Since the outbreak of coronavirus trading between the two countries has been affected. India has a high dependency on China for manufacturing inputs. The industries that are impacted the most are:
APIs stand for active pharmaceutical ingredients. Indian companies imported 68 per cent of active pharmaceutical ingredients (API) from China in FY19. Indian pharma companies have said they have stock for 2-3 months, but the situation could worsen post May 2020.
India's electrical machinery and equipment has 40 per cent dependence on imports from China. However this number has reduced from 59.5 per cent in FY18 to 40 per cent in FY19. Although India has increased production of low-end electronic components. Import dependency on China is its major limitation.
Solar cells and modules which absorb sunlight to generate electricity are imported from China. As per a report from HDFC Bank, India's solar industry has 80 per cent dependence on Chinese manufacturers for solar products. As a result projects could be delayed in the next 4-6 months.
Consumer durables are the products that have a long use life such as air conditioners, refrigerators, and other household appliances. Around 45 per cent of consumer durables are imported from China. Currently an inventory for 2-3 months is being maintained by companies but the impact of the virus outbreak could be felt from Mar-Apr 20. Prices of these goods could rise in near future, according to the report.
Automobile sector, which accounts for 7.5 per cent of India's GDP and a massive 49 per cent of the manufacturing GDP, is already facing slowdown. The coronavirus lockdown has made the situation worse for the auto sector as 10 to 30 per cent of automotive components are supplied from China. If factories do not resume activity in China, it could adversely affect the sector.
Tourism sector comprises a broad chain of services such as tickets and booking, transportation, hotels, food and beverages. Since 2011, tourists from China visiting India were growing at 11% annually. China accounted for 3% of total foreign tourist arrivals in 2019.
HOW CEMENT INDUSTRY CAN BE THE BOOSTER ENGINE FOR INDIA?VARUN KESAVAN
1) The Indian cement industry is the second largest in the world in terms of production, but per capita consumption is still low at under 200kg compared to the world average of 500kg.
2) There has been consolidation in the industry with big players acquiring smaller regional cement companies. Cement companies operate by focusing on either quality or price.
3) Cement advertising now focuses more on emotional connections with consumers rather than just functional benefits due to information overload.
4) Government infrastructure projects and the housing sector are expected to drive demand growth, increasing per capita cement consumption to 435kg by 2030 and enabling an 82% expansion in production capacity.
ROBOTS AND HUMANS: COMBINED CAPABILITY WILL ENABLE BUSINESSES DELIVER UNEXPEC...VARUN KESAVAN
The last few years have seen a significant infusion of robots in various industries. This trend is expected to continue in the next 3-5 years. Almost 1 million robots are expected to be sold for enterprise use in 2020. There are primarily 3 types of robots - industrial, professional services and software robots.
Professional service robots (e.g., those used in healthcare, retail industries) and software robots (e.g., those used in functions such as Finance, HR, Procurement) will comprise a significant portion of these new robot sales. The market for professional services and software robots is growing much faster than that for industrial robots.
As the use of robots, increase in non-manufacturing industries, the companies which are able to combine the uniquely native human capabilities (e.g., inspiration, aspiration, emotion, empathy, imagination) with powerful robot capabilities (e.g., accurate transaction processing) will be able to re-imagine their business processes and deliver better and newer business outcomes for their stakeholders.
THE WAYS IN WHICH GEO -ENGINEERING COULD TRANSFORM THE ENVIRONMENTVARUN KESAVAN
Varun Kesavan discusses how geoengineering could be used to address the climate emergency. Specifically, solar radiation management techniques like stratospheric aerosol injection aim to reflect sunlight back into space to cool the planet. While once dismissed, major universities are now researching geoengineering due to the urgent threat of climate change. However, the large-scale effects are still uncertain and it may discourage climate action or have unintended impacts if halted. Overall, geoengineering shows potential to significantly benefit society and the environment according to studies, despite some risks, and could provide time to further address the root causes of climate change.
THE WAYS IN WHICH AUTOMATION REVOLUSIONS THE MANAGEMENT STRATEGYVARUN KESAVAN
Business strategy is being revolutionised by advances in automation technologies and management must follow. Management beliefs and practices must evolve with the new ways of production, distribution and consumption. Businesses are beginning to accept the inevitability of tech-enabled processes and tech-determined choices.
Industry 4.0 is about autonomy of machines. Advances in sensors, communication, computation, robotics, GPS etc have created possibilities of infusing machines with intelligence to automate both work and management. Machines are already collecting and sorting information, and management mostly involves dealing with people and making decisions. As Industry 4.0 evolves, a lot of decision-making will also be transferred to machines. But, it is not clear yet how machines will share ethical and legal responsibility for their actions.
THE SMES IN 2020: B2B PAYMENTS, DATA PRIVACY AMONG MAJOR PROBLEMS TO STAY IN ...VARUN KESAVAN
Several B2B payments and lending companies, over the last one year, emerged with solutions around banking, expense management, accounting/book-keeping, and Accounts Payable/Accounts Receivable (AP/AR) automation.
Slowly, but steadily, businesses are adopting software-as-a-service (SaaS) tools to manage their businesses better and move towards real digitisation away from manual and clunky processes to more elegant and friction-free processes.
Investors have taken notice of this opportunity in the B2B space and have stepped up their investments. A recent report by Venture Intelligence said that B2B fintech has secured $657 million in India so far this year, compared to $617 million by B2C fintech. Keeping this business payments transformation in mind, here are the top five topics that will be in the limelight in 2020:
THE TOP INNOVATIVE ECONOMIES IN THE WORLDVARUN KESAVAN
The World Economic Forum's Global Competitiveness Report for 2019 ranks 141 economies on their innovation capability. The innovation ecosystem is measured with the help of five sub-pillars-commercialization, Interaction, and diversity, administrative requirements, research and development, and entrepreneurial culture. Other important factors like education and the intensity of competitive skills they possess also help determine the country's innovation capabilities.
Outsourcing digital marketing is collaborating with specialised companies to handle a variety of online marketing duties, including SEO, PPC, social media, content production, and email campaigns. Aspire globus provides access to professional knowledge, powerful tools, and cutting-edge trends without the requirement for in-house resources. Key techniques include identifying objectives, selecting the best partner, maintaining regular contact, successfully controlling costs, and making data-driven decisions. Businesses can improve their online presence, increase productivity, and achieve better marketing outcomes by implementing these methods while remaining focused on their core activity.
🚀 Excited to Share Our Comprehensive Analysis on Ather! 🚀
I am thrilled to share a presentation that our team recently completed on Ather, focusing on an in-depth brand and customer analysis. This was a group project that brought together diverse expertise and insights, resulting in a holistic examination of Ather's market positioning and customer engagement strategies.
📊 Project Contributors:
@Deepyanti Maskara - Social Media Marketing Expert
@Siddhesh Kondaskar
@Sudip Ghimire
@Leah CX
Key Highlights of Our Analysis:
🔍 Buyer Persona & Customer Journey
In my role, I concentrated on developing detailed buyer personas and mapping out the customer journey. Understanding our customers' motivations, challenges, and decision-making processes allowed us to create targeted strategies that resonate with Ather's audience.
💡 Brand Analysis
We delved into Ather's brand identity, evaluating its strengths, weaknesses, opportunities, and threats (SWOT analysis). This helped us identify areas where Ather can enhance its brand equity and customer loyalty.
🔄 Customer Engagement
Our analysis also included a thorough examination of Ather's customer engagement tactics across various platforms. We assessed how effectively Ather communicates with its audience and the impact of these interactions on customer satisfaction and retention.
Key Takeaways:
Customer-Centric Strategies: Emphasizing a customer-first approach in all touchpoints can significantly boost brand loyalty.
Data-Driven Insights: Leveraging data to understand customer behavior and preferences leads to more personalized and effective marketing strategies.
Innovative Engagement: Continuous innovation in engagement tactics keeps the brand relevant and top-of-mind for customers.
I am incredibly proud of the collaborative effort and the insights we uncovered. This project has been a valuable learning experience, and I am excited about the potential it holds for enhancing Ather's brand strategy.
Feel free to reach out if you'd like to discuss our findings in more detail or share your thoughts on Ather's customer engagement strategies!
#BrandAnalysis #CustomerJourney #BuyerPersona #MarketingStrategy #Ather #TeamWork #CustomerEngagement
Mailchimp- The Best Email Marketing Tool.pptxRakesh Jalan
Slide 1: Title Slide
Mailchimp: The Best Email Marketing Tool
Slide 2: Introduction
What is Email Marketing?
- A crucial digital marketing strategy that can boost sales significantly.
- Vital for targeting and nurturing prospects effectively.
Slide 3: Why Choose Mailchimp?
Mailchimp Overview:
- Leading Email Service Provider.
- Ideal for small businesses and startups.
- Provides comprehensive marketing solutions.
Slide 4: Audience Management
Key Features:
- Marketing CRM to build customer relationships.
- Create unlimited signup forms.
- Segment audiences for targeted campaigns.
- Use behavioral targeting and predicted demographics.
Slide 5: Creative Tools
Enhance Your Content:
- Content Studio for storing creatives and templates.
- AI-powered Creative Assistant for quick design creation.
- Dynamic Content for personalized email experiences.
- Subject Line Helper to boost open rates.
- Access to pre-designed campaign templates.
Slide 6: Marketing Automation
Automate Your Campaigns:
- Customer Journeys to create personalized workflows.
- Date-Based Automations for special events.
- Over 250+ integrations with other web apps.
Slide 7: Insights & Analysis
Optimize with Insights:
- Detailed reports for each campaign.
- Smart Recommendations for product promotion.
- A/B Testing to determine the best strategies.
- Surveys for valuable audience feedback.
- Content Optimizer to compare and improve content.
Slide 8: Benefits of Mailchimp
Pros:
- Free plan for up to 2000 contacts.
- Import custom email templates.
- Social Media Marketing and PPC Ads.
- Built-in photo editor and live preview.
- User-friendly interface.
Slide 9: Considerations
Cons:
- Becomes expensive as contact list grows.
- Free plan includes Mailchimp branding in email footers.
- Limited A/B Testing in the free plan.
- Phone support only available for premium plans.
- Not ideal for affiliate marketing.
Slide 10: Additional Features
Boost Online Presence:
- Website and online store builder.
- Appointment scheduling and domain services.
Slide 11: Pricing Overview
Mailchimp Pricing Plans:
- Free for up to 2000 contacts.
- Paid plans offer advanced features and customer support.
Slide 12: Conclusion
- Mailchimp is a powerful tool for starting and scaling email marketing campaigns.
- Offers a range of features from automation to insights and analysis.
Slide 13: Call to Action:
- Visit Digital Samaaj website for digital marketing courses in Hindi- https://digitalsamaaj.com
- Learn how to generate multiple income streams with low-risk investments.
In this humorous and data-heavy Master Class, join us in a joyous celebration of life honoring the long list of SEO tactics and concepts we lost this year. Remember fondly the beautiful time you shared with defunct ideas like link building, keyword cannibalization, search volume as a value indicator, and even our most cherished of friends: the funnel. Make peace with their loss as you embrace a new paradigm for organic content: Pillar-Based Marketing. Along the way, discover that the results that old SEO and all its trappings brought you weren’t really very good at all, actually.
In this respectful and life-affirming service—erm, session—join Ryan Brock (Chief Solution Officer at DemandJump and author of Pillar-Based Marketing: A Data-Driven Methodology for SEO and Content that Actually Works) and leave with:
• Clear and compelling evidence that most legacy SEO metrics and tactics have slim to no impact on SEO outcomes
• A major mindset shift that eliminates most of the metrics and tactics associated with SEO in favor of a single metric that defines and drives organic ranking success
• Practical, step-by-step methodology for choosing SEO pillar topics and publishing content quickly that ranks fast
Research to Results: A Behavioral Economist's Guide to CROVWO
Are your A/B tests yielding lackluster results, despite your best efforts? It’s time to rethink your approach.
Join Florent in this power-packed session as he connects the dots to the science behind successful Conversion Rate Optimization (CRO). Gain exclusive access to Florent’s groundbreaking insights into user behavior, distilled from years of research and practical application.
Discover how these insights translate into profound improvements in conversion rates, with strategies that consistently deliver double and triple-digit uplifts.
In an era of information overload, it takes a lot for a message to cut through the noise. More than ever before, brands are leveraging executive leaders as their messenger and most visible catalyst for brand storytelling. However, external presence alone is no longer enough; rather, one’s influence is the new imperative for communications and business success. This presentation will explore how executives are navigating the communications ecosystem, especially their attitudes, behaviors and priorities and what it takes to "Earn Influence."
Key Takeaways:
Attendees to this presentation can expect to walk away with a new understanding of what makes someone "influential," the business value of having a visible executive with a distinct voice and POV and an understanding of how to establish a persona that can help an executive show up for their audiences on all channels.
Ralph DiPiero's Tested Methods for Mastering Marketing ConsultingRalphDiPiero
With the help of this comprehensive guide, learn Ralph DiPiero's tried-and-true methods for succeeding in marketing consulting. DiPiero provides tried-and-true strategies for overcoming obstacles, enhancing client interactions, and producing significant outcomes. His experience provides priceless insights on how to succeed in marketing consulting by utilizing creativity, data-driven decision-making, and effective communication, regardless of your level of experience as a consultant or lack thereof.
Demapro: Your Partner in Strategic Market Insightsarun mishra
Demapro is a premier market research company dedicated to providing businesses with actionable insights and strategic intelligence. Our mission is to empower organizations with the data and analysis needed to make informed decisions, drive growth, and stay ahead of the competition.
This presentation is for you whether you are:
- Web Developers
- Computer Science Students and Graduates
- Digital Marketers
- SEO Specialists
- Switching to Tech or SEO Roles
- Or even for tech-savvy entrepreneurs and startup founders
This slide is for those who want to understand the intersection of web development & SEO and how it impacts SEO visibility.
- Learn how to build websites that rank well in search engines.
- Make yourself more marketable in a competitive tech market.
- Real case studies that reflect the impacts of SEO in the web ecosystem and it's visibility.
SMM OWL Presentation- Best SMM Panel ServicesSMM OWL
SMM Owl provides all social media services to get quick results. Our panel offers a one-stop solution for businesses looking to boost their online presence through effective social media management. We provide all social media services like YouTube, Facebook, Instagram & other platforms. They’ve been the go-to source and trusted provider of cheapest SMM Panel not just for YouTube, but for other media channels as well, so you may reap the benefits of a well-balanced and robust expansion of your online presence across all social platforms. They provide youtube subscribers, watchtime, likes & views at very affordable price.
Integrated Marketing: A Strategic Approach for Modern Marketersdmprachigupta
Integrated Marketing is a strategic approach that ensures all communication and messaging across various channels are cohesive and consistent, aiming to unify promotional efforts across traditional and digital platforms. This approach is pivotal in today's marketing landscape, fostering brand trust and loyalty through a seamless customer experience.
This discussion will dive into marketing analytics discussions and look at different parts of the analytics data offered and what you can do with the information in your content marketing strategy.
Key Takeaways:
What the most important data metrics are to overview
How to turn data analytics into actionable next steps in your content strategy
When to check in with your analytics to not overwhelm yourself
Learn how integrating organic and paid social media strategies can elevate your marketing efforts. We’ll explore how organic social media and paid campaigns can work together to boost engagement and improve ROI. Through real-world examples and practical tips, you'll discover best practices for using organic insights to inform paid strategies, ensuring consistent branding, and optimizing your campaigns. Whether you’re a seasoned marketer or new to the field, this session will equip you with the knowledge and tools to enhance your social media strategy and achieve superior results.
Better Together Driving Superior Results with Organic and Paid Social Media -...
UNIT - 3 CRM STRUCTURES
1. UNIT - III
CRM STRUCTURES
BY VARUN KESAVAN
E – MAIL ID – VARUNKESAVAN@YAHOO.COM
1
2. ELEMENTS OF CRM
CUSTOMER KNOWLEDGE
RELATIONSHIP STRATEGY
COMMUNICATION
INDIVIDUAL VALUE PROPOSITION
SALES FORCE AUTOMATION
CAMPAIGN MANAGEMENT
2
4. MODELS OF CRM
IDIC MODEL
IDENTIFY
DIFFERENTIATE
INTERACT
CUSTOMISE
4
5. QCI MODEL
IT DEPICTS A SERIES OF ACTIVITIES THAT COMPANIES NEED TO
PERFORM IN ORDER TO ACQUIRE AND RETAIN CUSTOMERS. THE
MODEL FEATURES PEOPLE PERFORMING PROCESSES AND USING
TECHNOLOGY TO ASSIST IN THOSE ACTIVITIES.
5
6. CRM VALUE CHAIN
PRIMARY STAGES
CUSTOMER PORTFOLIO ANALYSIS
CUSTOMER INTIMACY
NEW DEVELOPMENT SCOPE
VALUE PROPOSITION
MANAGE THE CUSTOMER LIFECYCLE
SUPPORTING CONDITIONS
LEADERSHIP AND CULTURE
DATA AND IT
PEOPLE
PROCESSES
6
8. CUSTOMER ACQUISITION
IT IS BROAD TERM USED TO IDENTIFY THE PROCESSES AND
PROCEDURES USED TO LOCATE, QUALIFY AND ULTIMATELY
SECURE BUSINESS OF NEW CUSTOMERS.
8
9. INPUT FOR ACQUISITION
SUSPECTS
ENQUIRIES
LAPSED AND FORMER CUSTOMER
COMPETITOR’S CUSTOMERS
REFERRAL
EXISTING BUYERS
9
10. PROCESS OF ACQUISITION
STEP – 1 GATHER CUSTOMER INTELLIGENCE
STEP – 2 ORGANISE INTERNAL ACQUISITION PLANNING MEETINGS
STEP – 3 BUILD STRATEGY AROUND THE IDEAL CUSTOMER
PROFILE
STEP – 4 MAKE THE MOST OF THE CRM
STEP – 5 SHARE THE KNOWLEDGE
10
11. STRATEGIES FOR CUSTOMER
ACQUISITION
TARGEET PROSPECTS
IMPROVE DIRECT MAILINGS
USING ANALYTIC TOOLS FOR CUSTOMER SEGMENTATION
FINDING FINANCIAL STATUSES OF CUSTOMERS
BALANCE WITH DIGITAL MARKETING
COUPONS OR DISCOUNT
RAISE BRNAD AWARENESS
11
12. CUSTOMER ACQUISITION
GUIDELINES
KNOW THE TARGET CUSTOMERS
SEEK REFERRALS
TESTIMONIALS
GET STRAIGHT TO THE POINT
STOP TALKING START LISTENING
USE PERSUASIVE POWER WORDS
REVIEW
12
15. STRATEGIES FOR CUSTOMER
RETENTION
REDUCING ATTRITION
SELL AND THEN SELL AGAIN
FREQUENT COMMUNICATIONS CALENDAR
EXTRAORDINARY CUSTOMER SERVICE
COURTESY SYSTEM
PRODUCT OR SERVICE INTEGRITY
COMPLAINT IS AGIFT
15
16. BENEFITS OF CUSTOMER
RETENTION
POSSIBILITY OF REPEAT BUSINESS
REDUCED COSTS FOR CUSTOMER ACQUISITION
FOSTERING GREATER INTERACTION BETWEEN BUSINESS AND
CUSTOMER
HAVING MORE DELIGHTED CUSTOMERS
16
17. CUSTOMER DEFECTION
ACCORDING TO REICHHELD “CUSSTOMER DEFECTION IS A UNIT
OF CONTAINING NEARLY ALL THE INFORMATION A FIRM NEEDS TO
COMPETE, PROFIT AND GROW.”
17
19. ANALYSING CUSTOMER
DEFECTIONS
STEP – 1 DEFINING DEFECTION
STEP – 2 IDENTIFYING THE CORE CUSTOMERS
STEP – 3 IDENTIFY THE ROOT CAUSE OF THE PROBLEM
STEP – 4 MAKE DEFECTION ANALYSIS PERMANENT
19
20. REDUCING DEFECTION
MEASURING RETENSION RATE
DISTINGUISHING CAUSES OF CUSTOMER ATTRITION
COMPARING THE LOST PROFIT
IMPLEMENT EFFECTIVE COMPLAINT HANDLING AND SERVICE
RECOVERY PROCEDURES
INCREASE SWITCHING COSTS
20
21. STRATEGIES FOR PREVENTION OF
DEFECTION
ADDRESSABLE DRIVERS
SPECIALISED CHURN MODELS
CHECKS AND BALANCES
SALES CHANNEL PERFORMANCE EVALUATION
CALL CENTRE OPERATIONAL EFFECIENCY
RE – DESIGNED OPERATIONAL EFFECIENCY
RE – DESIGNED PROCESS FLOWS
IMPLEMENTATION OF RIGID MARKETING CAMOPAIGN KEY
PERFORMANCE INDICATOR TRACKING
21
22. CRM ROADMAP FOR BUSINESS
APPLICATION
THE CORRECT CRM STRATEGY CAN CULTIVATE INTIMATE, LOYAL
RELATIONSHIPS WITH CUSTOMERS AND RENDER COMPETITIVE
ADVANTAGE IN THE MARKETPLACE
22
23. STEPS IN DEVELOPING CRM
ROADMAP
STEP- 1 GAIN SENIOR – LEVEL SPONSORSHIP
STEP – 2 GATHER INFORMATION
STEP – 3 ASSESS CURRENT STATE AND DEFINE FUTURE STATE
GAPS
STEP – 4 IDENTIFY VALUE OPPORTUNITIES
STEP – 5 LINK VALUE OPPORTUNITIES TO STRATEGIC CRM
CAPABILITIES
STEP – 6 DEFINE CRM PROJECTS AND REQUIREMENTS
STEP – 7 DEVELOP THE BUSINESS CASE
STEP – 8 DEVELOP A ROLL – OUT STRATEGY
23
24. CRM IMPLEMENTATION
STAGE – 1 SCENARIO ANALYSIS
STAGE – 2 PURPOSE AND OBJECTIVE
STAGE – 3 PLANNING
STAGE – 4 PROCESS DESIGN
TECHNOLOGY AND VENDOR SELECTION
SOLUTION DEVELOPMENT
IMPLEMENTATION
MEASUREMENT
24
25. CRITICAL SUCCESS FACTORS FOR
CRM ROADMAP
IT IS VITAL TO HAVE BUY IN FROM TOP MGMT
A STRONG SPONSOR IS REQUIRED
IT IS ESSENTIAL TO HAVE BUY – IN AND INVOLVEMENT FORM ALL
PROCESS OWNERS.
FEEDBACK FORM ALL AFFECTED INTERNAL AND EXTERNAL
PARTIES
25