Management Information Systems

Assignment 2

Topic- Customer relationship Management ( CRM)

From,
Himanshu
Varun

Operations & system Management

Jain university
 3W’s of CRM ?
● WHAT is CRM ?

● WHOM is CRM for ?

● WHY is CRM Required?

What is CRM ?
● Customer relationship management (CRM) is a technology for managing all your company’s
relationships and interactions with customers and potential customers.

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

● When people talk about CRM, they are usually referring to a CRM system, a tool that helps with
contact management, sales management, productivity, and more.

● A CRM solution helps you focus on your organization’s relationships with individual people —
including customers, service users, colleagues, or suppliers — throughout your lifecycle with them,
including finding new customers, winning their business, and providing support and additional
services throughout the relationship.
 Whom, is CRM for?
● Any organisation from employee strength from 50 to 50000 can use CRM
● Human Resources:CRM technology has a natural crossover into HR, everything from new employee
recruitment to managing existing employee files
● Accounting:Several CRM platforms offer direct integration with your Accounting and billing process.
Rather than receptively entering account information and contact details your CRM and accounting
software will communicate with each other and do the data entry for you
● Marketing:Marketing departments rely heavily on various types of in-house CRM systems as well as
special 3rd party products for specific functions, like email marketing
● Sales:Naturally your sales team is going to be the biggest user of a CRM system. It is their responsibility to
convert leads into customers and customers into promoters of your brand
● There are two primary uses of CRM for sales
○ Customer contact — knowing details like name address and phone number are obvious, but your
CRM will have hundreds of data fields ready and waiting for your team to populate with additional
information about your customer.
○ Project management — Your sales team will use the CRM to make notes, send emails, create tasks,
and book meeting with your customers.
Why is CRM Required ?
● If your business is going to last, you know that you need a strategy for the future. You have targets for sales,
business objectives, and profitability. But getting up-to-date, reliable information on your progress can be
tricky

● A CRM system can give you a clear overview of your customers. You can see everything in one place — a
simple, customizable dashboard that can tell you a customer’s previous history with you, the status of their
orders, any outstanding customer service issues, and more.

● Marketers can use a CRM solution to better understand the pipeline of sales or prospects coming in, making
forecasting simpler and more accurate. You’ll have clear visibility of every opportunity or lead, showing you
a clear path from inquiries to sales

● 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.
Types of CRM
Three major types of customer relationship management systems are
being used in many organizations.
1. Operational CRM,
2. Analytical CRM
3. Collaborative CRM
 Operational CRM
● It provides support to front-office business processes that involve direct interaction with
customers through any communication channel, such as phone, fax, e-mail, etc.

● The details of every interaction with customers, including their requirements, preferences,
topics of discussion etc., are stored in the customers’ contact history and can be retrieved by
the organization’s staff whenever required.

● it presents a unified view of customers across the organization and across all
communication channels

EG;sales force automation (SFA), customer service and support (CSS), enterprise marketing
automation (EMA),etc.
Analytical CRM

● It enables to analyze customer data generated by operational CRM applications,

understand the customers’ behavior, and derive their true value to the organization.
● It helps to approach the customers with pertinent information and proposals that
satisfy their needs
● The analytical customer relationship management applications use analytical
marketing tools like data mining to extract meaningful information like the buying
patterns of the customers, target market, profitable and unprofitable customers, etc.,
that help to improve performance of the business.
Collaborative CRM

● It allows easier collaboration with customers, suppliers, and business partners and,
thus, enhances sales and customer services across all the marketing channels
● The major goal of collaborative customer relationship management applications is to
improve the quality of services provided to the customers, thereby increasing the
customers loyalty.
● Examples of collaborative CRM applications are partner relationship management
(PRM), customer self-service and feedback, etc.
Benefits of CRM

1. Business Management
2. Customer Tracking
3. Targeted Marketing
4. Integrations
5. Customer Feedback
6. Data Analysis
7. Sales Tracking
8. Mobility
9. Task Management
10. Document Management
 Business Management

Contact Management
● managing everything from email correspondence to sales
activity and consolidating it into one centralized hub
● Using CRM software, or CRM tools available through a
loyalty program or POS, saves countless man hours, not to
mention your sanity.
● CRM software at its best takes all the moving parts
involving customer contact and links them together to
create a system that’s seamless, intuitive, and easy to
navigate.

Inventory Management
CRM software is also capable of managing inventory and
tracking item quantity levels, the pace at which they sell, and
even which items aren’t selling.
 Customer Tracking

Identifying customer spending patterns

● In order to find out what customers are buying, how much

they’re buying, and how frequently, you’ll need a good
tracking system. This is one of the main benefits of CRM
software.
● This data can be used to customize experiences for each of
your customers, or used on a global scale to track how well
certain products are doing.

Correspondence Tracking
● For those who need instant access to client correspondence,
be it email, phone calls, or in person conversations, CRM
software is vital. Many CRM software systems offer
correspondence tracking from the first transaction to the
last.
● The CRM software solution does just that, storing call logs,
emails, documents and other forms of correspondence for
each customer.
 Targeted Marketing

mail marketing
● email marketing plays a big role in generating repeat
business and acquiring new business. Email marketing
keeps your business connected to your customers in a
non-intrusive way.

Alternate Media Marketing

● CRM providers offer mobile and social media campaign
tools. SMS text messaging campaigns, social media blasts,
and even mobile app notifications,

Campaign and Promotion Management

● Digital marketing tools can be used for more than long
term relationship building. Campaign and promotional
applications can be used to solve the short term needs of
your business.
 Integrations
Social Media Integrations
● CRM can bring all your social media applications together
and give your customers access to those platforms in one
location. They also offer the ability for customers to like
your social media pages and review your business

Additional Integrations
● CRM software plays an essential role in bringing different
programs together to seamlessly interact and provide you
with an intuitive, fluid system. In addition to numerous
data migration and export options, many providers are
able to integrate with Google applications (such as Gmail,
Contacts, Maps, Drive and others)
Customer Feedback

Reviews
● CRM offer great tools to make monitoring review
sites and your social media pages a lot easier. Some
programs monitor review sites like
● Yelp to give you up to date information on where
your business ranks and what people are saying

Chatter Feeds
● Chatter feeds, like the one offered by Salesforce
allow you to stay connected with employees with the
same speed as other social media outlets. Chatter
feeds are ideal for group collaboration
 Data Analysis

Trends and Insights

● Most loyalty programs, and some CRM programs, offer a
pretty useful level of data analysis to give you actionable
insights into your business.
● The more thorough your tracking tools, the more in-depth
the analysis can be. On a product level, data analysis can tell
you what products are selling and which aren’t, so you can
determine if you need to make adjustments on quantity
levels, or start a promotion.
● In a sales environment, analytics can tell you how well each
member of your sales team is doing, so you can make the best
choice when assigning tasks. The Base CRM offers in-depth
sales analytics to do just that.
 Sales Tracking

Sale Pipelines
● CRM software gives you the ability to track the stage each
sale is in across your team. You can prioritize sales by
opportunity and manage all aspects of your workflow as
well.

Employee Sales
● Coupled with sales tracking is employee tracking. Many
CRM companies offer tools that track what employees are
doing, their progress on assigned tasks, and the stages of
each of their sales.
Mobility
● Some CRM providers offer mobile apps and remote
access options so you can access the information you
need from wherever you are.

● Zoho CRM and Solve360 CRM both offer mobile apps

in addition to their main software. Pipedrive CRM
offers an iPhone mobile solution as well as a remote
access option for android and windows users.

Task Management

Use your CRM to manage everything from personal

tasks to business deals, meetings, and more. Sync the
software with your calendar, create and assign new
tasks, and link projects and tasks with specific
contacts.
Document Management

Resource Libraries
● CRM software can be used to collect, manage, and
distribute documents, as well as track which
documents have been sent to which client, or
employee, or vendor.
● Zoho CRM, Clevertim CRM, and Contactually CRM
offer document libraries with varying levels of
tracking.
 Components of CRM

1. Marketing automation
2. Sales force automation
3. Contact center automation
4. Geolocation technology, or location-based services
5. Workflow automation
6. Lead management
7. Human resource management
8. Analytics
9. AI
 Types of CRM technology
● On-premises CRM:
○ This system puts the onus of administration, control, security and maintenance of the database and
information on the company using the CRM software.

○ With this approach, the company purchases licenses upfront instead of buying yearly subscriptions from a
cloud CRM provider.

○ The software resides on the company's own servers and the user assumes the cost of any upgrades.

● Cloud-based CRM:
○ With cloud-based CRM, also known as SaaS (software as a service) or on-demand CRM, data is stored on an
external, remote network that employees can access anytime, anywhere there is an internet connection,
sometimes with a third-party service provider overseeing installation and maintenance.

○ The cloud's quick, relatively easy deployment capabilities appeal to companies with limited technological
expertise or resources.

○ Data security is a primary concern for companies using cloud-based systems, as the company doesn't
physically control the storage and maintenance of its data.
 Decision Support Quality and
Efficiency

Advantages of
CRM
Increases Decrease in
Profitability Overall Cost

Customer
Attention

● Identifies best customer
● HOlds all customer information
● Increases Sales efficiency
● Ensures Customer satisfaction
● Abilty to please customer
● Increase sales base
● Improve Relationship
with customer
● Overload of information
● Does not arrive with information already entered
● Lack of cultural Preparation
● Loss of personal interaction
● Over Automation
● Poor integration with
back office system
 conclusion
● Quality CRM tools make managing the relationship
between you and your customers efficient, effective, and,
hopefully, a little easier.

● There are many great CRM software providers and

loyalty programs available that can fit the needs of your
business.
THANK YOU