Streamline your Business with Crm Cycle in IT Architecture Documentation

How to create outlook signature

hello students welcome to the lecture on crm architecture and after this lecture we will be able to learn the following objectives discuss the scope of crm architecture explain the crm analysis processes discuss the campaign planning and management describe the customer interaction discuss the problems with ecrm solutions describe the ecrm tools explain the crm portals let's start with the concept of crm architecture the customer relationship management architecture can be broken down into three categories and these are operational collaborative and analytical each plays an important role in customer relationship management and a company that wants to success must understand the importance of using these three components successfully operational crm deals with the automation of certain business processes examples of business processes that are connected to operational crm are marketing and sales when a connection is made to a customer the information related to this interaction will be automatically stored in a database and the company can pull up specific information on that customer when it is needed operational crm can further be broken down into three components these components are enterprise marketing automation customer service automation and sale force automation the enterprise marketing automation will give the company information about the business climate and it will also provide them with crucial data on their competitors as well as trends within the industry and other important variables analytical crm is also important when it comes to both product development and risk management it is important to realize that analytical crm is an ongoing process the company may need to alter its strategies or methods based on the information that is analyzed through this process the third important aspect of crm architecture is collaborative crm hmm so so let us now discuss the scope of crm architecture the experience from many companies is that a very clear crm requirement with regards to reports example output and input requirements is of vital importance before starting any implementation with a proper demand specification a lot of time and costs can be saved based on right expectations versus systems capability a well-operated crm system can be an extremely powerful tool for management and customer strategies the crm or customer relationship management is concerned with the development and maintenance of mutually beneficial relationships with strategically significant partners its focus is the creation of long-term value and not just short-term profits for the company and all it works with the scope of crm can thus be defined ing to its constituencies how long-term value can be created for and with them and the benefits of doing so the customer the customer is of key importance because only relationships with customers generate revenues for a company establishing a good long-term relationship with customers can take the form of the provision of benefits such as special prices and preferential treatment the suppliers suppliers provide input such as raw materials technologies components investment human resources and expertise to the company's value chain in 2010 companies have tended to shift to a smaller number of suppliers and create and maintain long-term relationships with them enhanced performance can result from improved communication and coordination with this set of suppliers purchasing costs can be reduced thanks to elimination of the need to constantly seek cheaper sources the owners companies may remain private for the duration of their lifespan remaining the property of single proprietors or many owners other companies may start out that way but at certain points may elect to go public and sell shares in order to spread liability or raise funds for future expansion whichever category a company may fall under it is paramount for its management to establish productive relationships with its owners and create value for them in the form of enduring company and stock value in the long run a poor long-term relationship can result in investors selling out and in drops in stock value or in changes of ownership if the company is sold the employees employees are central to crm practitioners many businessmen such as bill marriott and richard branson claim that their employees or internal customers are their most important constituency not the customers per se should employees be satisfied and happy with their jobs and they will be more apt to provide noteworthy service to the company's external customers now moving on to the next topic we will study the crm analysis processes we can describe crm analysis process as lead management lead management is the consolidation qualification and prioritization of contacts with prospective customers contacts may be received from campaign management or other sources example the service management process the objective is to provide sales staff with a qualified and prioritized list of presumably valuable prospective customers to allow them to be precisely and effectively addressed within the sales management process john watermaker the father of advertising famously complained half the money i spend on advertising is wasted trouble is i don't know which half over a hundred years later and most of the industry he founded would probably say the same thing to compound the problem there has been a tectonic shift in the way we purchase goods in 2012 for the first time in u.s history marketers spent more on online advertising than on print why because marketers are shifting their attention to where the eyeballs are online in that same year over 30 billion us dollars was spent to generate leads online but research indicates that for every 92 dollars spent on online marketing only one dollar is spent to convert this traffic that's bad business because online leads are the most sensitive forbes performed an interesting study of over 10 000 companies they found that the average company takes 46 hours and 53 minutes to pick up the phone and respond and the sales rep that does call makes only 1.3 call attempts before giving up even more significantly a 2007 mit study found that the odds of contacting a lead if called in five minutes versus 30 minutes drop a hundred times and the odds of qualifying that lead if called in five minutes versus 30 minutes drops 21 times so these aren't great odds for businesses that don't understand the critical nature of leeds management or what we call speed to leads every minute counts because speed to leads is the first step in a chain of events that defines efficiency in lead management that chain looks like this increased speed means an increase in efficiency which means more leads contacted more leads contacted more leads closed in reality if you take speed out of the equation you're paying too much for your leads or more significantly it's costing you more than it costs your faster competitors today many organizations are not only slow at responding but they often choose the wrong leads to go after and at the wrong time in most instances this is a result of an oversimplification or more specifically a first-in first-out approach for responding to leads point of contact staff usually decide which lead to work on cherry picking leads often even wasting minutes of time between each lead on top of that current systems give limited visibility into the real value of a lead and that makes managing them too difficult in a time-sensitive environment this model simply doesn't work leading enterprises are becoming far smarter in how they manage leads with the genesis solution leads are still captured the same way but now they're distributed based on attributes that measure their value the lead source the customer's history the last web page visited whatever you need to determine the value of the lead then based on those attributes we prioritize which lead goes to which resource the best resource is now chosen based on another set of values like skill level or recent sales at the end of the day the right lead is assigned to the right resource at the right time this ability to constantly re-prioritize a list of leads ensures that each lead is given the best chance of hitting that all-important five-minute sla the genesis approach is unique ensuring the best outcome for customers by introducing three critical capabilities for intelligent lead management first we calculate the quantity of leads necessary for the entirety of the campaign based on present and future resources next we sort filter and prioritize leads based on their value and finally we distribute each lead to the best qualified resource actively monitoring and managing the leads progress with reporting all the way through organizations can quickly determine the effectiveness of a campaign now allowing them to make informed decisions in real time genesis lead management secures the best outcomes combining these three critical capabilities allows organizations to ensure the right lead is responded to customer profiling customer profiling is the analysis of current knowledge about customers in order to classify and characterize each customer for example with regard to his value for the company loyalty and preferences regarding products and communication channels feedback management feedback management is responsible for the consolidation and analysis of knowledge from customers which is collected in the crm delivery processes particularly in the complaint management process the results feed a continuous improvement process of a company's products services and processes performance management performance management is the management process for all crm processes it enables the integrated control and monitoring of as well as the resource allocation to the crm processes as described by shaw and read the foundation of performance management is an activity-based costing abc to determine the profit contribution made by the customers and activities within the scope of the crm processes this year your performance was good excellent and outstanding so your rating is average what how come average because you lack domain knowledge but last year you said i am a domain expert and you put me in this project as a domain consultant is it well in that case i think your domain knowledge has eroded this year what yes i didn't see you sharing knowledge on purchasing domain why would i because i am not in purchasing i am in manufacturing this is what i don't like about you you give excuse for everything next you need to improve your communication skills like what i am the one who trained the team on business communication you sat in the audience and took notes you remember well i mean you need to improve your social pragmatic affirmative communication what the hell is that see that's why you need to learn about it next you need to sharpen your recruiting skills all the guys you recruited left within two months well not my mistake you told them you will sit beside them and review their code personally and most resigned the next day itself couple of them even attempted suicide anyway i tried to give you a better rating but our normalization process gave you only average last year that process gave me excellent this year just average why is this process pushing me up and down every year that's a complicated process you don't want to hear i'll try to understand go ahead well we managers gather in a large room write down the names of subordinates and small bits of paper and throw them up in the air whichever lands on the floor gets average whichever lands on table gets good whichever we manage to catch gets excellent and whichever gets stuck to the ceiling gets outstanding this is ridiculous so who gets poor rating good question those are the ones we forget to write down and how can paper bits stick to the ceiling for outstanding oh no let's now discuss campaign planning and management as part of crm marketing planning and campaign management plan activities and then using existing data such as customer data and profiles to start direct marketing actions marketing planning and campaign management is referred to as marketing planning we can plan activities at different levels from high level marketing plans for the whole concern down to campaigns for individual products at local level or events marketing plans are intended for the long term strategic planning of activities this way budgets and deadlines are taken into consideration a market plan could form for example the basis for next year's costing in the marketing department as such it is a management tool features the following functions are available in marketing planning and campaign management marketing project structures we can create and edit hierarchical structures for marketing plans and campaigns we can assign new marketing plans and campaigns to marketing plans that already exist key figure planning in the marketing planner we can enter start and finish dates for marketing projects we use microsoft project for maintaining dates and scheduling in graphical form document administration we can assign documents for example microsoft word microsoft excel and so on to marketing plans and campaigns assign product catalogs we can assign product catalogues and catalog variants to campaign elements assign products and conditions if we want to promote the sale of one or more than one products using a campaign can assign these directly to the campaign one can also stipulate campaign specific conditions for these products using this function we can promote products by offering a product for a limited time at a discounted rate for example if we sell the product with the reference to the campaign the campaign specific conditions are taken into account in pricing cost planning using key figures use key figure planning for planning costs we can plan quantities and values for pre-defined and or user specific key figures of marketing elements we can carry out key figure planning time dependent or time independent my sap integration a direct connection to the project system enables us to post actual costs and revenues directly to the sap system the system automatically assigns a wbs element to a crm marketing element in the marketing planner actual costs and revenues are posted to the corresponding wbs element this means for instance that we can enter costs as normal in purchasing department and these costs can be posted to a campaign moving on to the next topic of this lecture customer interaction the crm underlines the importance of interacting with customers and engaging in a learning relationship an interaction can focus on the exchange of benefits that is products and services information exchange social exchange or any combination of the three interactions occur within the context of an ongoing relationship planning crm activities ing to the different phases of an interaction cycle throughout a customer relationship is sometimes referred to as the customer buying cycle concept in the crm literature ing to this concept each interaction consists of awareness evaluation transaction and post transaction phases which need to be considered in business planning and management in general interactions should remain appropriate example frequency timing duration channel needs relevant degree of value generated for the customer by a transaction and consistent with prior encounters many enterprises make use of a combination of channels to interact with their customers furthermore single channel and channel combination economics have an influence on channel strategy decisions channels have differing transaction course infrastructural costs and relative usage in particular electronic channels are very attractive because their self-service potential offers the chance to reduce costs in order to understand channel economics companies also have to be aware of the costs of serving similar customers across channels at any stage of the interaction process in addition customers may switch channels at any time during the interaction process companies therefore can offer incentives example self-service resulting in reduced wasting time or barriers example fees to guide customers to the right mix of channels for each product or service another aspect of channel strategy is communicating with customers and employees it is a technology that makes use of the valuable customer information contained in crm applications and takes customer relationships to a much more personalized and intimate level what companies need to understand is that while crm has brought the value of the customer relationship to light it is the growing and nurturing of those relationships through personalized and consistent service which ensures their repeat business while crm helps companies achieve the 360 degree view of their customer across all touch points cim enables them to act on that knowledge across all interaction channels voice fax email and the web with a comprehensive cim solution businesses can leverage real-time knowledge about customer relationships in dynamically delivering that personalized consistent customer experience across channels we can describe ecrm solutions as systems on the systems level we differentiate between three categories of information systems that are relevant to crm crm systems knowledge management km systems and enterprise resource planning erp and transaction systems ing to the meta group crm systems can be classified into the following three sub-categories operational crm systems improve the efficiency of crm delivery and support processes they comprise solutions for marketing sales and service automation example campaign management systems and systems for customer interaction centers analytical crm systems store and evaluate knowledge about customers for a better understanding of each customer and his behavior they therefore support the crm analysis processes examples are data warehousing online analytical processing olap and data mining systems collaborative crm systems manage and synchronize customer interaction points and communication channels example telephone email and web the crm systems essentially process well-structured information example customer contact data and master data in contrast km systems support the collection sharing and use of less structured information such as documents explicit knowledge and employees implicit knowledge this knowledge is especially needed in the crm delivery processes to satisfy customer needs salesforce automation solutions our salesforce automation sfa solutions are aimed to streamline sales process phases minimizing manual data entry and administration time for the sales representatives leading to more number of potential customers attended in shorter time spans our sfa solutions are centered on a robust and yet easy to use sales contact management and tracking system scmts for tracking and managing every stage in the sales process for each potential customer from first call to final disposition additional management functionalities like opportunity management sales area management pipeline management code generator and product service knowledge base management marketing automation solutions our marketing automation solutions are aimed to help the organization's marketing policy makers to identify and target the right section of customers and generate prospective leads for the sales force the functional modules are built to provide easy to use interfaces for managing and measuring multi-channel marketing campaigns including email search social media and direct mail the impact measuring metrics monitored include clicks responses leads deals and revenue the system also includes tools for creating internal marketing resources and knowledge base sharing managing customer lists and trend prediction tools customer service and support suites these systems are aimed towards improving customers experience as a customer of an organization as well as maintain a logical and collaborative environment to provide 24 7 customer service and technical support at a low cost the functional modules of these solutions encompass ticket-based support systems live chats knowledge base management email response management and media rich help workshops you can have great email campaigns a comprehensive seo strategy a strong social presence and a fantastic site but if you can't orchestrate them all together you just may miss out on great opportunities we've heard the story before you can see the prospects on your site but you can't tell which ones are hot you don't know who's been to the site before you don't know who's read your newsletter and you don't know what term they searched on basically you're blind so unqualified lead by unqualified lead you fling them over the wall to sales hoping they can do something with them all because you can identify and react to your best leads so what can you do sure there's solutions out there to help you if you want to purchase software package after software package and maybe a couple more software packages but these enterprise systems are time consuming to set up and difficult to use or you can try to hire more marketing staff a marketer for every system no useful analytics and your data is still scattered across multiple systems and your sales team continues to chase junk leads but wouldn't it be cool if you can handle all your online inbound and social marketing in a simple and efficient way well it turns out the guys over at loop views did just that loop views hosted marketing automation solution is smart intuitive and affordable it's perfect for the smb marketer it covers all the important channels like web email search display blog and social networks and provides a super intelligent interface for creating and managing your multi-channel campaigns in one spot loop fuse removes the operational burden from your marketers and lets them focus on building positive relationships integrated solutions these systems combine the power of all the above mentioned systems and provide an integrated crm solution an elaborate user and roles management system facilitates inter-department and intra-department collaboration in this integrated environment this along with document and resource sharing workflow automation and performance analysis tools helps all the personnel involved in customer-centric activities work in an integrated collaborative environment and reduce time overheads at lower costs we can describe ecrm tools as ecrm assessment it is very important to devise numerical measures of how a company measures up in the eyes of the customers with respect to its competitors an ecrm capability index is devised which provides a benchmark for cross-company comparison based on these results a company identifies quick hits which can be immediately implemented to improve business processes impact the bottom line and future enhance its understanding of its customers view of the company ecrm strategy alignment each company must identify measures and align to the gaps that exist between customer expectation already measured in the ecrm assessment stage and the internal capabilities that serve these customer expectations ecrm architecture during this stage the company will try and develop a cea connected enterprise architecture within the contest of the company's own customer relationship management strategy the following is a set of technical ecrm capabilities in applications that collectively and ideally comprise a full ecrm solution customer analytics software it should integrate with customer communications software to enable companies to transform customer findings into roi return on investment producing initiatives data mining software the predictive modeling it does must be tightly integrated with campaign management software to keep pace with multiple campaigns running daily or weekly campaign management software this software tests various offers against control groups capture promotion history for each customer and prospect and produces output for virtually any online or offline customer touchpoint channel business simulation it is used in conjunction with campaign management software optimizes offer messaging and channel delivery prior to the execution of campaign and compares planned costs and roi projections with actual result real-time decision engine it coordinates and synchronizes communications across duplicate customer touch points system it contains business intelligence to determine and communicate the most appropriate message offer and channel delivery in real time and support two-way dialogue with the customer crm portals a corporate portal provides a simplified view of large amounts of corporate information it consolidates organizes and packs information so that business decisions can be made based on comprehensive up-to-date information a portal to corporate information can focus on a specific area of the company such as sales support and crm a customer relationship portal brings together all the disparate interaction pieces necessary for gaining and retaining customers the portal software creates a single virtual place where all customer contacts meet the enterprise in addition it easily defines business rules for customer contacts allowing businesses to quickly react to the dynamic e-business environment it connects customers with the best resource whether the customer called the company's eight zero zero number or sent an email via a website with the portal all the different types of contacts are blended into a common queue and if the customer first sends an email and then calls the agent knows this because every transaction is retained rooted and utilized with the same customer relationship portal it also pulls information from back office systems such as erp enterprise resource planning systems accounts payable and inventory the front and back office applications hold important information about customers but it is often kept in their own databases the portal allows information stored in one application to be shared with another it provides consistent information about the customer interaction so that businesses can monitor operational efficiency of contact resources and analyze interactions to ensure that the business is meeting service objectives now in the end let us summarize what we have learnt in this lecture customer relationship management crm has the business purpose of intelligently finding marketing selling to and servicing customers crm or customer relationship management is a number of strategies and technologies that are used to build stronger relationships between companies and their customers lead management is the consolidation qualification and prioritization of contacts with prospective customers contacts may be received from campaign management or other sources example the service management process customer profiling is the analysis of current knowledge about customers in order to classify and characterize each customer for example with regard to his value for the company loyalty and preferences feedback management is responsible for the consolidation and analysis of knowledge from customers which is collected in the crm delivery processes particularly in the complaint management process crm systems essentially process well-structured information example customer contact data and master data marketing automation solutions are aimed to help the organization's marketing policy makers to identify and target the right section of customers and generate prospective leads for the sales force you