... While this usually means the good and the bad, but in the article, it meant different to me. The article scrutinized two vital sides or aspects of Customer Relationship Management - the customers and the company itself. First, the CUSTOMERS. Maximize the potential of your assets. Figuratively speaking, the most vital asset that lies at the center of every business is their customers. On a short-term basis, customers provide revenues to a company, supplying the blood that keeps it alive and breathing. But thinking on a long-term basis, the growth that a company needs to survive the competition also lies in the customers. Generating revenues is only half of the equation. Establishing customer loyalty and increasing customer base is the more challenging ones. But how does CRM enter the picture? By delving deeper into their customers’ data using techniques such as data mining, companies can identify trends and patterns that indicate key selling scenarios. This may be obtained from basic customer data such as age or gender to more complex ones such as buying behavior of customers, culture, relations or other criteria. From here, marketing will come into the picture. As the article goes, “strategic CRM looks at what client information means and how it can be useful for developing a better business”. By understanding your customers, companies will be able to figure out where they stand and from here, they can ascertain the steps they can do to solidify their position and even expand...
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...Customer Relations Management (CRM) Currently Riordan is working to consolidate customer information to provide better value to the customer. The records are currently kept on paper files, microfiche and different databases. Therefore, the firm is working on a more sophisticated CRM (customer relationship management) system. Riordan has a 2 year plan to reach the $50 million revenue mark. In order to reach this goal we have suggested a more organized CRM system. Customer relationship management is a company strategy that is designed to lower costs and increase profits by customer loyalty (CRM.com, Feb. 19, 2010). There are three major elements to a successful CRM initiative: people, process, and the technology (CRM.com, Feb. 19, 2010). Riordan has to select the right technology to work the improvement process, provide the data to employees, and should be easy to operate so the users do not get frustrated. As long as the company’s CRM is the “valve that pumps a company’s life blood” then the customer relationships are the “heart of the business” (CRM.com, Feb. 19, 2010). According to CRM.com: “There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends.” Riordan can use CRM to help their businesses use people, processes...
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...IMPLEMENTATION OF CUSTOMER RELATIONS MANAGEMENT AT ANZ BANK Table of Contents 1.0 Introduction 3 2.0 Company Background 3 3.0 SWOT Analysis 4 4.0 CRM Project Objectives 4 5.0 Selected CRM Suite and Analytical Capabilities 5 6.0 Infrastructure Requirements 10 7.0 Training 11 8.0 Timeline 12 9.0 Budget 14 10.0 Conclusion 14 References 15 Implementation of Customer Relations Management at ANZ Bank Introduction Customer Relations Management (CRM) is the integration of people, processes, and technology to maximise relationships with its customers (Goldenberg, 2003, p.7). It involves a comprehensive approach that provides seamless coordination between all customer-facing functions through technology, which is used to organize, automate, and synchronize sales, marketing, customer service and technical support. The main aim of the CRM initiative is to facilitate the use of technology and human resources to gain valuable insights into the behaviour and value of its customers (Onut et al., 2002, p.3). This is particularly very instrumental in the banking sector (Yao & Khong, 2012, p.151). CRM programs are associated with improved financial performance, customer loyalty and satisfaction. Company Background The Australian and New Zealand Banking Group (ANZ bank) is the third largest bank in Australia and the largest bank in New Zealand in terms of market capitalization. Australian operations...
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...demanding. Besides the emphasis on cost leadership and operational strategies, the requirements of managing customer relations addresses upon a new agenda of business strategy formation around this essential core element; customer value. With reference to successful “tried and tested” methods by major industry leaders in the globe today, the paper seeks to address the value of customer relations management as a major competitive strategy for low cost carriers such as Indigo Airlines within the southern regions of Asia. RESEARCH PROPOSAL Executive Summary The emergence of low cost carriers within the southern regions of Asia have brought about major success and reshaped the aviation industry within these regions. Though recent success have come about with the exploration of mass segments and low cost structures, this innovative business model is bound to mature with the external markets and consumers. With focus on India and Indigo Airlines, the issue of differentiation in a relatively highly matured market with relatively lower international barriers to entry have brought about the need to explore alternatives which create customer value. Customer relations management schemes and the emphasis on providing supplementary services is a method worth considering and the paper seeks to explore alternative customer management facilities that addresses the issue of deriving customer loyalty. Though the fast follower approach may have been criticised as of late, benchmarking several...
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...Relationship Marketing Index Using Holistic Approach A project report submitted in partial fulfilment of the requirements for B.Tech. Project B.Tech. By Katum Yomcha (2010IPG-50) Divyank Shekhar Singh (2010IPG-34) Pradeep Kr. Meena(2010IPG-109) ABV INDIAN INSTITUTE OF INFORMATION TECHNOLOGY AND MANAGEMENT GWALIOR-474 010 2013 CANDIDATE/S DECLARATION We hereby certify that the work which is being presented in the B. Tech. Project Report entitled “Relationship Marketing Index Using Holistic Approach”, in partial fulfillment of the requirement for the award of the Degree of Bachelor of Technology and submitted to the institution, is an authentic record of our own work carried out during the period from May/2013 to September/2013 under the supervision of Prof. Deepali Singh. I/we also cited the reference about the text(s)/figure(s)/table(s) from where they have been taken. The matter presented in this report has not been submitted by us for the award of any other degree elsewhere. Date: Signature of Candidates Katum Yomcha Divyank Shekhar Singh Pradeep Kr. Meena (2010 IPG 050) (2010 IPG 034) (2010 IPG 109) This is to certify that...
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...August 31, 2011 Club IT Part Two During the internship with Club IT, the owners have learned that they must improve on their informational technology capabilities. Ruben and Lisa need to upgrade and improve their information management within the Club. The Club has several ideas, analysis, and planning that the Club needs to improve upon before moving forward. Ruben Keys and Lisa Tejada Club IT is a successful nightclub, but lack the technological character of other clubs in the city. Club IT can grow into the best club with expanding the club’s clientele and reputation by upgrading a few ideas insides the club. This business will need to provide structure in certain areas to reach its full potential. Some of the systems needed are customer relationship management (CRM), supply chain management (SCM), and enterprise resource planning (ERP). Club IT has several issues that need to be addressed to make this an efficient business. One of the issues is that the business does not seek improvements in the hi-tech assets that can amplify transactions, clientele, and general income. The computer system that this business is using does not have an integrated system that combines customer relations, enterprise resources, and supply management. Many of the Club’s clientele use PDAs, Blackberries, camera phones, and other wireless devices to communicate. Electronics are the wave of the future for any business to stay ahead of the competition. The CRM helps Club IT assemble...
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...FACULTY OF MANAGEMENT STRATEGIC MANAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT (CRM) Abstract Majority of administrations have observed the customer relationship management (CRM) design as a hi-tech explanation for glitches in individual region, convoyed by a great deal of not coordinated enterprises. in any case, customer relationship management have to be conceptualized as a strategy, due to its technological, human, and processes implications, meanwhile an organization decides to carry it out. On this concept, the main aim declared in this research is to propose, vindicate, and legalize a model based on critical success influences that will constitute a lead for companies in the execution and diagnosis of a CRM strategy. The model is match by a set of 13 critical success factors with their 55 analogous metrics, which will perform as a lead for organizations desiring to apply this type of strategy. These rudiments cover the three key aspects of every customer relationship management strategy (processes, human factors and technology); giving a universal focuses and appease success in the performing of a CRM strategy. These critical success factors were measured by a group of internationally experts permitting deciding guidelines for a consumer relationship management employment as well as the plausible causes of the shortages in past projects. Introduction In the early of 1960s, Levitt recommended that the aim of...
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...CUSTOMER RELATIONSHIP MANAGEMENT (CRM) EVALUATION: DIFFUSING CRM BENEFITS INTO BUSINESS PROCESSES Sigala, Marianna, University of the Aegean, Michalon 8, 82100 Chios, Greece, m.sigala@aegean.gr Abstract Although CRM is one of the fastest growing management approaches being adopted across many organizations and particularly tourism and hospitality firms, the deployment of CRM applications has not always delivered the expected results while many CRM initiatives have failed. Consequently, the inability of CRM applications to deliver expected benefits has not only intensified the validity of previous findings and claims regarding the ICT productivity paradox, but it has also boosted current research. However, although the latter provides anecdotal evidence of the impact of ICT management practices on CRM effectiveness, there is a lack of empirical studies examining the relationship between CRM management and performance aspects. This study aims to fill in this gap by investigating the relation between firms’ CRM applications and exploitation with their ICT management practices and CRM benefits. The investigation and validation of the former are valuable, since it would enable managers to maximize CRM benefits by identifying and allocating the appropriate resources, time and efforts to CRM implementation. Relations are tested by gathering data from Greek tourism and hospitality companies. Findings provide useful practical suggestions for CRM evaluation and implementation strategies...
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...Also explain website features that make it effective. 1) Customer Relationship Management | | | | a)Information Drives Channel Revenue Management Success The EXOBIZ Hub Agency E-Business Suite family of channel revenue management applications enables information-driven channel revenue management by using consistent, accurate enterprise information and advanced tools for managing all aspects of both the direct and in direct channels namely; * From partner lifecycle management * discount and rebate program management * channel sales collaboration * claims settlement * marketing and measuring performance * Exobiz channel revenue management applications increase channel effectiveness by using consistent enterprise information in every phase of the process. | | b) Service Management | | | | Information Drives Customer Service Success Exobiz E-Business Suite family of Service Applications provides true information-driven customer service—service that enables your agents and technicians to meet and exceed customer expectations by empowering them with information that is consistent, accurate, and actionable. Through comprehensive integration of service delivery channels including web-self service, agent-assisted service via the contact center, and field service, Exobiz Service provides a single, robust platform for managing service-related information and processes. Exobiz hub's unique approach to customer service positions organizations to drive revenue through...
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...product towards customer orienta-tion, they still need practical holistic concepts enabling efficient sales management and customer approaches. According to PEPELS reporting systems are essential in today’s sales. This incorpo-rates appropriate goal setting and documentation of achievements to monitor progress and success. He further goes saying that reports need to be aligned with customer demands/needs so information gathered and retrieved is useful providing insight in customer satisfaction, reactions to offers, personal information, current status and overall buying habits. Over time this type of reporting and monitoring has become more and more computer-aided – including ERP-systems, CRM-systems,...
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...review Club IT’s mission and define a strategy for a competitive advantage using operational effectiveness and customer relations through information technology. The first step is to evaluate Club IT’s mission and clientele. Lisa and Ruben have a mission to provide a fun and high energy club with a wide variety of music as a place for the community to meet. The club shows some success but needs to create an operational strategy to better service its clientele and to increase profits. Club IT has Internet presents providing information about what the club has to offer. Lisa and Ruben agree that they need help with information systems to help the business operate smoother and could provide the customers with a more personalized experience. Club IT has intranet services for the employees and management. The website offers customer information about the venue, retail, and dining. By adding an IT department this will help the company better manage information processing and save time. The second step is to evaluate, which strategy will work best to create a competitive advantage for Club IT. A suggestion is to use an operational strategy to establish a plan for operations and communicating Club IT’s objectives, and goals. Information technology will play an important role in this strategy by organizing data, and information to help management set goals to achieve financial success, and to better...
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...for the patients. Patton-Fuller Hospital depends on its staff but also depends on the vendors who bring them supplies, and the technicians who install machinery and maintaining of the machinery. The communication between all that is involved needs to be efficient and reliable. The current business system is not able to accommodate this at the moment. Making a suggestion to change the challenges is to integrate the system. Patton-Fuller is not a company that is designed on profit but is designed to the care of patients. CRM (Customer Relations Management) software is a great way for Patton-Fuller to integrate the systems and give open communication. Customer Relations Management allows for fast, reliable, and accurate information to be shared. If Patton-Fuller would install a Customer Relations Management Software it can increase the employee’s productivity, faster responses from the employees, less complaints, cost avoidance, revenues go up, customer/vendor loyalties, and the...
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...Week 1: Event Analysis Guns in America Town Hall Public relations is the management of communication between an organization and its public through two-way communication and development of mutually beneficial relationships (PRSA, 2015). This includes consideration of internal and external publics and incoming and outgoing communication. Marketing is typically trying to sell something or developing a positive financial exchange. Public relations and marketing differ considering, public relations often focus on delayed impact and non-customer publics. Marketing does focus on both of these categories at times, however the area tends to focus on customer publics and more direct financial exchanges. The town hall event is public relations since the management of communication between the gun-control organizations and the public have a two-way beneficial communication relationship (Broom, 2012). According to the author, the nature of relationships between organizations and their stakeholders has been a subject of increasing study and discussion among public relations scholars. Developing and maintaining mutually beneficial...
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...finding effective solutions will help build confidence in the company growth. The following paper will present a 9-step model for problem solving on the main issues of Classic Airlines. Being able to state the problem, redefine the problem, and apply a robust problem-solving process that would present the best alternative solution will help Classic Airlines achieve their sale goals. Challenges for Classic Airlines: Case Scenario The notion that customer satisfaction brings awareness as business has decreased for Classic Airlines set the company at its highest deception for a strait forward marketing goal. Increasing customer relations is the far most challenge, amongst other challenges for the company without lowering cost. Providing a positive marketing strategy that targets the consumers needs strictly identifies the company’s issues. These issues identified have an effect on how Classic Airlines fluctuates within the market, whether technology is being enforced, if the operations of the company are efficient, and how customers perceive the companies business strategies. Classic Airlines has received a 10% decrease in share prices in the past year (University of Phoenix, 2010). This may very well be due to the loss of business caused by the decrease in flights since September 11, 2001. Not only does Classic Airlines face the decrease in revenues due to loss...
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...assignments in Process Management / Customer Relationship Management with an organisation of repute ------------------------------------------------- ------------------------------------------------- Career précis ------------------------------------------------- * ------------------------------------------------- A result-oriented professional with proven success of nearly 8 years in Process Management and Customer Relationship Management in the Banking & Financial Service sectors. * ------------------------------------------------- Previously was associated with Zee learn limited as Territory Franchise Manager. Acquired in-depth knowledge and expertise on Risk / Credit / Banking processes, compliance, client relationship management, process enhancements etc. through various assignments with ICICI PRUDENTIAL LIFE INSUARNCE, DHFL PRAMERICA LIFE INSURANCE, MAX LIFE INSUARNCE COMPANY LIMITED. * ------------------------------------------------- Proven skills in implementing policies & managing enterprise wide risks with effective mechanisms to mitigate them. * ------------------------------------------------- A thorough professional with a proactive attitude, capable of thinking in and out of the box, generating new design solutions and ideas. * ------------------------------------------------- Possess excellent interpersonal, communication and organisational skills with proven abilities in team management, customer relationship management and planning. -------------------------------------------------...
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