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CRM by Mind Map: CRM
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CRM

Customer relationship management is a model for managing a company’s interactions with current and future customers. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.

calculated across buyers and non-buyers

Share-of-Wallet and Market Share

Defination

Popular Customer Based Value Metrics

Size of Wallet

Share of Category Requirement

Share of Wallet

Aggregate Share-of-Wallet (ASW)

Transition Matrix

What is CRM

acquire & retain profitable customers

long-term and sustainable customer relationships - Add value

interdisciplinary field

maximizing customer satisfaction

CRM Business Strategy

Customers is core business

Effectively managing CR means Success

select & manage customers for Long Term

effective sales, marketing &services processes supported by customer-centric business philosophy & culture

Simple idea - treat different customers differently

Classification of CRM Applications

facing

touching

centric intelligence

Online networking

Levels of e-CRM

Foundational service

Customer-centered services

Value-added services

Strategic Customer Based Value Metrics

Past Customer Value

Lifetime Value

Customer Equity

RFM

Types of e-CRM

Operational

Analytical

Collaborative

strategic

Examples of Customer Services

Search and comparison

Free Trial

Technical & information and Services

Customized products & services

Status Tracking

Tools for Customer Service

Personalized web pages

FAQs

Email & automated response

Chat rooms

Live chat

Call centers

Troubleshooting

Issues Related to CRM Failures

Difficulty in measuring

Failure to identify & focus on specific business problems

Lack of active senior & sponsorship

Poor user acceptance

poorly defined business process for automate

How to implement CRM to avoid its failure

Conduct a survey

Carefully consider Sales,Service, Marketing and channel/partner management

Quality but not quantity

how CRM match organization objectives

refining existing CRM processes or reengineering CRM

Evaluate the workdone

Prioritize the organziation's requirement

Select the appropriate CRM software

Customer Selection Strategies

New node

Logistic Regression

Business Value of CRM

Cost avoidance

Increased revenue

Margin increases

Reduced inventory costs

Increased customer satisfaction

Increase in staff productivity

Risks of e-CRM

Taking on more than can be delivered

Getting over budget & behind schedule

Poor user adoption

Expensive maintenance & support

Isolation

Garbage in-garbage out

Failure to measure success

marketing Metrics

Traditional

Primary Customer-based

Popular Customer-based

Strategic Customer-based

Traditional and Customer-Based Marketing Metrics

Traditional Marketing Metrics

Primary Customer Based metrics

Popular Customer Based metrics

Strategic Customer Based metrics