Class Notes (1,100,000)
CA (620,000)
Ryerson (30,000)
ITM (1,000)
ITM 100 (300)
Lecture 6

ITM 100 Lecture Notes - Lecture 6: Supplier Relationship Management, Sales Process Engineering, Call Centre


Department
Information Technology Management
Course Code
ITM 100
Professor
Raymond Moss
Lecture
6

This preview shows half of the first page. to view the full 2 pages of the document.
ITM100 Ch. 6 Notes
Customer Relationship Management (CRM) - managing all aspects of a customer's relationship with an organization
Sales Force Automation (SFA)- is a system that automatically tracks all of the steps in the sales process
Customer Relationship Management Overview
Fundamentals of CRM:
1. CRM is a business strategy
-it is a process and business goal enhanced by using information technologies
- implementing CRM helps identify customers and design specific marketing campaigns
2. Business benefits of CRM
Benefits of a CRM System:
Provide better customer service
Cross-sell products more effectively
Help sales staff close deals faster
To find most valuable customers, use:
RFM - Recency- How recently a customer purchased items
Frequency- How frequent a customer purchases items
Monetary Value- How much a customer spends on each purchase
Value Disciplines - CRM is one strategy picture on slide online
Product leadership Ex. Apple
Customer Intimacy Ex. Amazon
Operational excellence Ex. Mc Donald's
3. Phases of CRM
1. Reporting- Customer Identification
2. Analyzing- Customer Segmentation
3. Predicting- Customer Prediction
4. Operational and analytical CRM
Operational CRM- supports front-office operations such as daily transactions. Deals directly with customers
Analytical CRM - Supports back-operations and strategic analysis
Cross-selling- is selling additional products/services to a customer
Ex. Mc Donald's asking if u want apple pie with that order
Up-selling- is increasing the value of the sale
Ex. Mc Donald's ask if u want to supersize
You're Reading a Preview

Unlock to view full version