Business

Customer Relationship Management

Presented By:

Shan Gu

Cristobal Vaca

Amber Vargas

Jasmine Villasenor- Team Leader

Xiaoqi Zhou

1

IST 309

Professor He

Group 10

3/18/20

23-25 minute presentation

Overview

Introduction to Customer Relationship Management (CRM)

Objectives of CRM

Different forms of CRM

Examples of businesses that use CRM

The problem, context, & architecture of CRM

The state of art & current best practices of CRM

Advantages and Disadvantages of CRM

Recommendations

2

Introduction to CRM

Customer relationship management (CRM) is an approach to manage a company’s interaction with current and potential customers

It’s seen as both an organizational strategy & information technology

Takes form in various systems and applications

Builds sustainable long-term customer relationships that create value for both the company and it’s customers

Contributes to customer retention & expansion of their relationships with advantageous existing customers

Obtains new customers

3

It uses data analysis about customers’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.

CRM helps companies acquire new customers and retain and expand their relationships with profitable existing customers. Retaining customers is particularly important because repeat customers are the largest generator of revenue for an enterprise. Also, organizations have long understood that winning back a customer who has switched to a competitor is vastly more expensive than keeping that customer satisfied in the first place.

The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.

Objectives

Who is CRM for?

Large businesses

Small businesses

Customers of both types of businesses listed above

4

Key Features:

stay connected to customers

streamline processes

provide visibility & easy access to data

improve efficiency & profitability

How does CRM benefit businesses?

Provides a clear overview of your customers

Can be used as both a sales and marketing tool

Contributes information from HR → Customer service → Supply-chain management

A CRM system gives eve#ryone — from sales, customer service, business development, recruiting, marketing, or any other line of business — a better way to manage the external interactions and relationships that drive success. A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location — and make information about every customer interaction available to anyone at your company who might need it.

Some of the biggest gains in productivity can come from moving beyond CRM as a sales and marketing tool, and embedding it in your business – from HR to customer services and supply-chain management.

Examples of businesses using CRM

Various forms of business can utilize the many benefits CRM systems have to offer

Small business such as barbershops and salons use CRM applications such as Booksy

Booksy is a mobile/web application that offers:

Easy appointment scheduling

Comprehensive POS system

Valuable e-marketing tools

5

https://youtu.be/QYQouCKr_BU

https://youtu.be/zPKK_yKQLEE

Examples of businesses using CRM, continued…

Salesforce is a CRM platform that gives all your departments — including marketing, sales, commerce, and service — a single, shared view of every customer.

Over 150,000 companies, both small & large, are employing Salesforce to grow their business

“We listen to our customers … and Salesforce connects us to those customers faster than ever before.”- JOHN LEGERE, CEO of T-Mobile

“The Salesforce team has become part of the (RED) family.”- DEB DUGAN, CEO of (RED)

6

The Problem

Businesses using CRM can be mislead by the abundance of options there are available to them

Could potentially lead them to purchasing the wrong platform for their business

Which could result in a financial loss

Another problem that face CRM implementation is insufficient experts

Some companies are not properly educated in this particular business operating system

Some companies may assume that a CRM system is as simple as installing and letting it work on its own- without realizing that it may require system updates and maintenance

7

The Context

As a way to enhance and promote the relationships between the company and its clients

CRM has come in as a technology that improves the interrelationship between the trusted customers as well as the potential customers with the company

Some of the ways that CRM is used to improve company-customer relationship include promoting effective communication in the company, efficiency, & overall organization

CRM has created a lot of new jobs within the IT field

8

https://youtu.be/qBtYfsoh9U8

The Architecture

There are three fundamental components in CRM:

Operational – automation of basic business processes (marketing, sales, service)

Analytical – analysis of customer data and behavior using business intelligence

Collaborative – communicating with clients

9

State of Art

NetSuite CRM by Oracle is cloud-based and ideal for small and midsize organizations

It is used by a variety of different industries.

The iPhone app allows you to use the software functions on the go.

Offers all the key features that make CRM useful for a business. (E-commerce, data analytics, and marketing analytics.

10

Current Best Practice

The current state of CRM is much more efficient due to cloud based services.

Cloud based CRM has made the installation process hassle-free.

Cloud CRM makes it possible for information to be replaced if something were to occur

11

Advantages & Disadvantages

Advantages: Lowers overall cost without paperwork, increased productivity.

Businesses can target certain customers based off their purchasing behavior and increase sales.

Disadvantages: CRM eliminates the human element that many customers look for.

Having to train employees can be a challenge especially if there a different features in an application for staff and managers.

12

Recommendations

We would recommend CRM platforms to become more easily and readily available through mobile applications

Eg. IOS & Android softwares

We recommend that more CRM platforms offer trials terms of a minimum of 30 days

We recommend more CRM systems to advertise through social media platforms

Eg. Twitter, Instagram, Facebook, etc.

13

Conclusion

Overall we have discussed CRM and the benefits it can provide for a business.

It provides information for businesses to understand their customers.

CRM can be used in the form of call logs, emails, ss interaction, recording files, call popups, and fax sending.

These forms are able to create a database for companies to go off of which can create an analysis to better their company and create customer loyalty.

All these are able to improve business relationships with customer to focus on customer retention and ultimately driving sales growth.

14

CRM is a great technology tool for managing all of a company’s relationships and interactions with customers and potential customers.

References

“CRM 101: What Is CRM?” Salesforce.com,

www.salesforce.com/crm/what-is-crm/.

Rainer, R. Kelly, and Brad Prince. Introduction to

Information Systems: Supporting and Transforming Business. John Wiley & Sons, Inc., 2020.

15

Questions?

16

Order now and get 10% discount on all orders above $50 now!!The professional are ready and willing handle your assignment.

ORDER NOW »»