follow the PowerPoint slides 9&13 just do the architecture and Recommendations
5 pages double space,use APA
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
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
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