Crm Wp

Only available on StudyMode
  • Download(s) : 43
  • Published : January 25, 2013
Open Document
Text Preview
AO 02006 BRO CRM

11-03-2002

12:54

Pagina 1

CUSTOMER
RELATIONSHIP
MANAGEMENT
WHITE PAPER

AO 02006 BRO CRM

11-03-2002

12:55

Pagina 2

Customer Relationship
Management
Executive summary
Customer Relationship Management (CRM) is
a business philosophy which provides a vision
for the way your company wants to deal with
your customers. To deliver that vision, you
need a CRM strategy which gives shape to
your sales, marketing, customer service and
data analysis activities. For most companies,
the aim of a CRM strategy is to maximise
profitable relationships with customers by
increasing the value of the relationship for
both the vendor and the customer.

Customer Relationship
Management (CRM) is
a business philosophy
which provides a vision
for the way your company wants to deal
with your customers

Software solutions and new technologies may
facilitate the new ways of working required by
a CRM strategy but simply implementing a
CRM product will not, in itself, deliver increased
customer satisfaction. Instead, companies
need to introduce new cross-departmental
processes which allow them to complete the
four steps in the CRM cycle: plan, interact,
process, leverage – and then plan anew.
Many CRM applications tackle only one or
two elements of the CRM cycle. As a result,
a high proportion of CRM projects - which
are based around implementing a particular
package or suite of applications - fail to
increase customer satisfaction, improve
customer loyalty or deliver a return on investment for the supplier in the form of increased revenues or profits.
Any CRM initiative should therefore start with
a vision and strategy which lays out the company’s aims and objectives. You must then adjust your processes and organisational
structures so that they will allow you to exe-

2

cute that strategy effectively. These processes
need to be underpinned by a CRM architecture
which connects interaction channels with CRM
applications and customer data repositories.
Furthermore, your investment in CRM must
encompass tools from all three solution
domains - collaborative, operational and
analytical CRM - if it is to support all four
stages of the CRM lifecycle.
Our experience over many projects has
allowed us to develop a CRM methodology
and skillset which is enabling our diverse
client base to succeed with CRM. We can
help you with short-term execution of specific
projects and provide longer-term support as
you devise and then roll out your complete
CRM programme. Above all, we can help
you really leverage your customer information
so that you can deliver increased value to
customers and continue to reap the benefits
of your CRM strategy over the long term.

What is Customer Relationship Management?
Customer Relationship Management (CRM) is
a business philosophy which provides a vision
for the way your company wants to deal with
your customers. To deliver that vision, you
need a CRM strategy which gives shape to
your sales, marketing, customer service and
data analysis activities. For most companies,
the aim of a CRM strategy is to maximise
profitable relationships with customers by
increasing the value of the relationship for
both the vendor and the customer.
From the vendor’s perspective, it is clear
that not all customers are created equal.

AO 02006 BRO CRM

11-03-2002

12:55

Pagina 3

Diagram: The value of customer value

Customers are looking
for suppliers who
understand their needs
and who can respond
to those needs with
relevant offers, using
the communication
channels the customer
prefers

An example for retail companies shows that
just 15 per cent of customers will account for
45 per cent of revenues and generate 70 per
cent of a company’s profits. A CRM-based
approach to business allows companies to
identify these high value customers and then
service them in a way which keeps them loyal.
From the...
tracking img