Customer Relationship Management
Lecture notes
Customer Relationship Management
Lecture notesUnit VI
Electronic Customer Relationship Management (E-CRM)
Definition - What does Electronic Customer Relationship Management (E-CRM) mean?
Electronic customer relationship management (E-CRM) is the application of Internet-based technologies such as emails, websites, chat rooms, forums and other channels to achieve CRM objectives. It is a well-structured and coordinated process of CRM that automates the processes in marketing, sales and customer service.
An effective E-CRM increases the efficiency of the processes as well as improves the interactions with customers and enables businesses to customize products and services that meet the customers’ individual needs.
Techopedia explains Electronic Customer Relationship Management (E- CRM)
Electronic customer relationship management provides an avenue for interactions between a business, its customers and its employees through Web- based technologies. The process combines software, hardware, processes and management’s commitments geared toward supporting enterprise-wide CRM business strategies.
Electronic customer relationship management is motivated by easy Internet access through various platforms and devices such as laptops, mobile devices, desktop PCs and TV sets. It is not software, however, but rather the utilization of Web-based technologies to interact, understand and ensure customer satisfaction.
An effective E-CRM system tracks a customer’s history through multiple channels in real time, creates and maintains an analytical database, and optimizes a customer’s relation in the three aspects of attraction, expansion and maintenance.
A typical E-CRM strategy involves collecting customer information, transaction history and product information, click stream and contents information. It then analyzes the customer characteristics to give a transactional analysis consisting of the customer's profile and transactional history, and an activity analysis consisting of exploratory activities showing the customer's navigation, shopping cart, shopping pattern and more.
The benefits of E-CRM include the following:
Businesses that strategize and implement an E-CRM solution are able to align their processes around technology to effectively deliver seamless, high-quality customer experience across all channels. Customers have the power to help themselves through online personalized services that are made available on demand. The Internet provides a simple and ideal medium where customers can get information from websites, buy products and find answers using FAQ sections, forums or chat rooms.
CRM in E-Business
CRM is a term that is often referred to in marketing. However, there is no complete agreement upon a single definition. This is because CRM can be considered from a number of perspectives. In summary, the three perspectives are:
Information Technology (IT) perspective
Marketing automation creates a beneficial bind between service and sales organizations. The CRM software solution should be able to deliver on a range of goals in multiple environments (such as business-to-business and business-to- consumer).
1 Sales Force Automation (SFA)
Sales Force Automation (SFA) is the automation of the sales cycle by linking your outside sales, inside sales, technical support, management, and service and customer care. The goal is to increase communication and hence efficiency between sales and support teams.
1 Customer Service and Support
Customer Service and Support helps better understand one's customers and anticipate their interest in an enterprise's products and/or services through processes occurring throughout the marketing, sales, and service stages.
1 Partner Management
Partner management supports, usually through a web portal dedicated to partners, basic functionality for partner management, such as partner information management (create, search, update, and delete), opportunity and lead source tracking and automatic notification, opportunity and lead assignment and automatic notification, all of these based on user-definable rules and workflow.
1 Contract Management and Creation
The Contract Management and Creation section enables organizations to manage, whether electronically or in a more conventional manner, contract lifecycle from contract creation and modification, to contract expiration and renewal, while
supporting for multiple currencies; all of these based on user-definable rules and workflow.
1 Project and Team Management
Project and Team Management enables organizations to manage project lifecycle and project team, from project kickoff and role definition to personnel assignment, project execution and completion; all of these based on user- definable rules and workflow.
Business-to-Consumer (B2C) CRM enables organizations to manage the whole consumer lifecycle, interact properly and successfully with their customers, and rapidly establish a selling channel.
2 Internet Sales
Internet sales enables visitors to look for and select products of their interest, and complete their purchase online. To do so, the CRM software solution should provide an on-line product catalog with real-time price and availability information, shopping basket management with secure payment transaction processing, and profile information management (registration, subscription, shipping and billing addresses, purchase history).
2 Email Response Management
Email Response Management ensures management of incoming emails from customers with automatic guided-through questionnaires and outbound emails combined with customer's data. It includes rule-based routing with reporting capabilities.
2 B2C Analytics and Business Intelligence
This system was developed to keep track of CNIC application forms during various stages using Barcodes to track 200,000 forms per day at 105 districts of Pakistan, 8 Regional Headquarters and Central Headquarter of NADRA. Stages include; District Registrar Office (DRO), Scanning, Data Entry, Local data warehouse, Central Headquarter, Printing of CNIC, RHQ, delivery of CNIC, etc. To track 200,000 forms per day at 20 stages, a massive 2 million transactions per day are created and stored at the central CRM Server. Using dynamic web reports to display this data for NADRA management was also developed.
Olpers
Customer Relationship Management in Engro Food` According to Engro foods view, CRM consists of:
Helping olpers to enable its marketing departments to identify and target their best customers, manage marketing campaigns and generate quality leads for the sales team. Assisting olpers to improve account and sales management by optimizing information shared by multiple employees, and streamlining existing processes. Allowing the formation of individualized relationships with customers, with the aim of improving customer satisfaction and maximizing profits; identifying the most profitable customers and providing them the highest level of service.
Providing olpers employees with the information and processes necessary to know their customers, understand and identify customer needs and effectively build relationships between the company, its customer base, and distribution partners.
Barclays Bank PLC
Barclays Bank PLC has signed an agreement with Microsoft whereby Microsoft will provide Barclays Bank with Dynamics CRM a fully integrated, adaptable business management solution. Barclays Bank Pakistan chose Microsoft CRM solution as it is an affordable technology solution that helps automate and streamline the three basic steps of customer management: Identifying, attracting, and retaining the customer. It provides a 360 degree view of the customer with access to members across an organization with up-to-date information of the customer. This commitment, along with our inherent business values
aim to provide efficient and innovative banking solutions throughout the Barclays branch and sales centre network across Pakistan.
