Preview

Customer Relationship Management

Satisfactory Essays
Open Document
Open Document
2989 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Customer Relationship Management
CUSTOMER KNOWLEDGE
MANAGEMENT ( Hard Wiring)






WHAT IS LISTENING TO CUSTOMER?
STEPS TO HARD WIRING
COMMON MISTAKES IN HARD WIRING.
ACTION POINTS FOR HARD WIRING.
CUSTOMER INTERACTION MODEL

Achieving customer satisfaction would be impossible without a well defined process for focusing the entire organisation on the customer….
Robert Schrandt,
Toyota
2011

CUSTOMER RELATIONSHIP MANAGEMENT-MOHAN.B.RAO
For Restricted Circulation only

1

WHAT SOME DO?
• Handful of organisations:
– Understand the customer’s true value
– Apply this knowledege consistently to create competitive advantage..
– Hardwire the customer’s voice into the company.
– Hardwiring yields a durable, fail proof communication channel. – Data collection is coordinated.
– Data collected is used to improve or change something in the company.
– Data collected is ensured that it does not go into ―Black
Hole‖.
2011

CUSTOMER RELATIONSHIP MANAGEMENT-MOHAN.B.RAO
For Restricted Circulation only

2

WHAT IS LISTENING TO
CUSTOMER?
• Voice of the customer needs to be ―Hard Wired‖
• Who is the customer?>>>>lost customer or prospectpotential and competitor’s.
• Understand what customers value.
• Coordinated effort in information collection
• Commitment to listen to customers.
• Use the information collected to improve processes etc.
• Precisely Craft a durable customer- company connection.
• A systematic ability to solicit, hear and act on customer needs. • HOW….LET US SEE THE STEPS….
2011

CUSTOMER RELATIONSHIP MANAGEMENT-MOHAN.B.RAO
For Restricted Circulation only

3

STEP I:CREATE A LISTENING
STRATEGY
• You have to be ―intentional‖ about listening and why you want to listen.
– What products & services matter most to the customer?
– How well are we doing in delivering relative to expectations and competitors?
– What do we find to be missing?

• Tune into the data you already have!!!
• Be open to the ―incoming‖ and the ―informal‖

You May Also Find These Documents Helpful

  • Powerful Essays

    Hsa 505 Assignment 3

    • 2334 Words
    • 10 Pages

    In any kind of business, a customer is always considered as the greatest asset. No business can survive without customers. This is the reason why businesses, organisations and companies must ensure that they win the attention of their customer through the use of customer satisfaction strategies. There are many different ways in which customers can be attracted and retained. One of the most common ways is through offering goods and services which are of high quality to the customers. Customers are always on the lookout for business persons who can offer them value for their money.…

    • 2334 Words
    • 10 Pages
    Powerful Essays
  • Satisfactory Essays

    Customer relationship management or CRM is not just the application of technology, but is a strategy to learn more about customers' needs and behaviours in order to develop stronger relationships with them. It enables businesses to:…

    • 542 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Procter&Gamble acquired Old Spice in 1990. Since then, a brand once associated with a has-been, highly fragrant aftershave whose ivory bottle still gathers dust on medicine-cabinet shelves has transformed from a small stagnating brand into a men's personal-care powerhouse. The brand is undergoing a transformation and rapidly becoming a hip brand for men, thanks in no small part to P&G's 'Smell like a man, man' advertising campaign for Old Spice shower gel, starring the actor Isaiah Mustafa.…

    • 606 Words
    • 3 Pages
    Good Essays
  • Good Essays

    IFSM Outline

    • 1095 Words
    • 5 Pages

    CRM is a business with a set of strategies, programs and system that focuses on building good relations with the organization and customer.…

    • 1095 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    debt

    • 3411 Words
    • 14 Pages

    BACKGROUND JetBlue envision to create high quality airline at low-fares, to accomplish this JetBlue is developing high technology (Paperless) to meet efficiency but also focused on service improvisation. Profile • Founder • Focus Area : David Neeleman : New York, Florida & California • Operations : February 11, 2000 • First Flight : Between New York’s JFK &Fort Lauderdale • Initial Capital : $130 million Mission Core Values Safety…

    • 3411 Words
    • 14 Pages
    Satisfactory Essays
  • Satisfactory Essays

    *Definition of CRM (ch. 1) -- practice of analyzing and utilizing marketing databases and leveraging communication technologies to determine corporate practices and methods that will maximize the lifetime value of each individual customer to the firm…

    • 599 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Introduction The essence of the information technology revolution and, in particular, the World Wide Web is the opportunity to build better relationships with customers than has been previously possible in the offline world. By combining the abilities to respond directly to customer requests and to provide the customer with a highly interactive, customized experience, companies have a greater ability today to establish, nurture, and sustain long-term customer relationships than ever before. The ultimate goal is to transform these relationships into greater profitability by increasing repeat purchase rates and reducing customer acquisition costs. Indeed, this revolution in customer relationship management or CRM1 as it is called, has been referred to as the new “mantra” of marketing.2 Companies like Siebel, E.piphany, Oracle, Broadvision, Net Perceptions, Kana and others have filled this CRM space with products that do everything from track customer behavior on the Web to predicting their future moves to sending direct e-mail communications. This has created a worldwide market for CRM products and services of $34 billion in 1999 and which is forecasted by IDC to grow to $125 billion by 2004.3 The need to better understand customer behavior and focus on those customers who can deliver long-term profits has changed how marketers view the world. Traditionally, marketers have been trained to acquire customers, either new ones who have not bought the product category before or those who are currently competitors’ customers. This has required heavy doses of mass advertising and price-oriented promotions to customers and channel members. Today, the tone of the conversation has changed from customer acquisition to retention. This requires a different mindset and a…

    • 6858 Words
    • 28 Pages
    Powerful Essays
  • Satisfactory Essays

    Unit 1 – i Introduction to Marketing 1 About Me… b  Professor Mark Runge  markrunge.rmit@gmail.com k it@ il  Cell # by request  Office hours are by appointment 2 Class Structure  The course will be structured as follows –  I will lecture for the first part of class  I will then assign discussion questions for groups to answer. You will have 20min to formulate your answers. You will then share these answers with the class.…

    • 789 Words
    • 4 Pages
    Satisfactory Essays
  • Better Essays

    Research Assistant

    • 2671 Words
    • 11 Pages

    ABSTRACT: Integrated marketing communication is an essential concept used in clarifying and managing lucrative relations with the employees, consumers and shareholders and sending a uniform message to provide coherence and the maximum impact of communication as far as organization and its products in all the relation points. In order to provide the success of such an approach the person doing the marketing communication must be headed for observing the steps, as follows: recognizing the target audience, setting communication objectives, creating the message, structuring integrated efficient communication and promotion programs, by choosing both the personal and impersonal communication paths of the message, in order to emphasize the expected feedback from potential and present customers. Hence, the purpose of integrated marketing communication is the simplicity of the message and the use of various online and offline communication means by improving the potential of the company so as to send the right message to the right customers at the right time and place.…

    • 2671 Words
    • 11 Pages
    Better Essays
  • Powerful Essays

    Retailing is the largest private industry in the world. It is also India's largest industry…

    • 3563 Words
    • 15 Pages
    Powerful Essays
  • Powerful Essays

    Management

    • 2980 Words
    • 12 Pages

    Many organizations now use the principles of customer relationship management to establish and maintain high standards of customer service (Customer relationship management, 2010, p.523). They know how important customer relationship management is and try to improve and raise quality of customer service or customer care. These two factors should be considered as sources of competitive advantage, which describe the ability to do better than one’s competitor. “For without customer care and customer service, there is no customer to manage by Customer relationship management” (Brooks, I.2007). According to “DON’T LEAVE IT TO CHANCE”, Dr…

    • 2980 Words
    • 12 Pages
    Powerful Essays
  • Satisfactory Essays

    Crm in Marketing

    • 374 Words
    • 2 Pages

    |Justify the selection of your career as presented on the website with a score of |Product evaluation: PSSA Writing Rubric |…

    • 374 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Hong Kong is one of the largest outbound tourism markets in Asia and was ranked just after China (4th in Asia) and 15th in the World in 2010. The trends of departure population and international spending are both rising through years. According to UNWTO, Hong Kong generated US$17.5 billion on international tourism expenditure in 2010, up 12% over 2009. Compared to China at US $54.9 billion, Japan at US$27.9 billion and South Korea at US$17.7 billion in the same year with its much smaller population, Hong Kong is thus having a higher per capita expenditure on international tourism than the above top three Asian countries. The results reflect that Hong Kong people are frequent travelers and regard overseas holiday as part of their lifestyle. Apart from the international tourism spending from the Government statistics, there was also an increase in the number of departures by 3% more with 84.44 million in 2010, showing that more and more citizens departed to overseas from Hong Kong. The huge expenditure and departure figures show that Hong Kong has a huge market in its outbound tourism business. Due to the growing market, the number of Licensed Travel Agents in the last 9 years has been increasing.…

    • 565 Words
    • 3 Pages
    Good Essays
  • Good Essays

    There’s little point in dedicating massive resources to generating new customers when 25-60% of your dormant customers will be…

    • 3645 Words
    • 15 Pages
    Good Essays
  • Powerful Essays

    small business

    • 3377 Words
    • 14 Pages

    The cost of business is the all money we are pays it for running our business such as expenses and fixed assts.…

    • 3377 Words
    • 14 Pages
    Powerful Essays