ADM 2372 Lecture Notes - Sales Force Management System, Sales Process Engineering, Opportunity Management

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15 Apr 2012
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Chapter 6 Customer Relationship Management (CRM)
Customer Relationship Management (CRM)
- It is about managing all aspects of a customer’s relationship with an
organization. What is the goal behind it?
o Increase customer loyalty
o Retain customers
o Increase profitability
Who/What matter the most now? CUSTOMERS
Websites like http://www.ihatedell.com
Introduction
Who can benefit from CRM?
Microsoft CRM 3.0 - Lemonade Stand (YouTube Video)
Benefits of CRM
- Benefits associated with CRM include:
o Provide better customer service
o Increase customer revenues
o Make call centers more efficient
o Cross-sell products more effectively
o Help sales staff close deals faster
o Simplify marketing and sales processes
o Discover new customers
“RFM”
- Organizations can find their most valuable customers through “RFM” – What
do you think RFM represents?
Customers who spend more money
How recently a customer purchased items (Recency)
How frequently a customer purchases items (Frequency)
How much a customer spends on each purchase (Monetary Value)
The Evolution of CRM
1. CRM reporting technology help organizations identify their customers
across other applications
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