ANALYTICAL CRM

Presented by

APURV GOURAV

Email– apurvgourav@gmail.com

CUSTOMER RELATIONSHIP MANAGEMENT

Customer relationship management (CRM) is the practice of intelligently finding, marketing to, selling to, and servicing customers

What is CRM really trying to do?

Tactical cultivation of customer relationships based on strategic vision and objectives

– Achieved as a company analyzes and prioritizes opportunities, then communicates with intelligence and

relevance to individual customers – in preferred channels

THREE ASPECTS OF CRM

Operational - automation of customer processes that offers support to a company’s sales or service representative

Collaborative - the program communicates to customers without a company’s sales or service representative (self service)

Analytical - analysis of customer information for multiple purposes

Analytical CRM

Analytical CRM includes a sound analytical infrastructure that help to gather all the relevant information about the customers and organize it consistently.

It help in achieving a 360-degree view of customers, through which company can maintain and build truly interactive, mutually beneficial, and profitable relationships.

It helps the company to identify the new trends in the market.

It help in gaining further insights into customer needs and preferences.

Analytical CRM analyzes customer data for a variety of purposes:

Design and execution of targeted marketing campaigns to optimize marketing effectiveness

Design and execution of specific customer campaigns, including customer acquisition,

cross-selling, up-selling, retention ..

Management decisions, e.g. financial forecasting and customer profitability analysis.

Prediction of the probability of customer

defection (churn analysis) .

Analytical CRM generally makes heavy use of data mining.

Analytical CRM ‘Power Tools’Capabilities that Companies Must Have

• Broad range of actionable analysis and predictive modeling capabilities

• Holistic view of customer interactions to understand the whole customer

• Means to understand and automate the event rules that drive the business and communicate with individual customers

Manage the Total Communications Environment with Analytical CRM

Direct Mail

E-Mail/Fax

ATM/Kiosk

Call Center

Agent

Store /Branch

Analytical CRM

THE VALUE ANALYTICAL CRM ADDS TO BUSINESS DESIGN

Acquire new profitable customers by cloning best customers.

Improve relationships with existing customers by addressing their individual needs

Cont..

Optimize cross-selling and up-selling opportunities

Improve customer loyalty and reduce customers' propensity to churn

How Analytical CRM Functions

Analysis

• Analyze customer profiles & behavior

• Target customers

• Evaluate response

• Event Analysis

Communication• Plan continuous

communication dialogues

• Define batch and real-time event rules and trigger

Optimization

• Prioritize and limit communications by channel

• Regulate frequencyand quantity of contacts by channel

• Optimize customer communicationsthrough contact modeling

Personalization • Generate personalized

offers by customer• Build personalization

Rules

Modeling

• Build and analyze predictive models

• Score customers

Interaction• Deploy outbound

or manage pending inbound/event-driven communications

• Manage workflow of interactions

• Personalization Merge

• Real-time personalization

Data Warehouse

Industry LDM

ALL CUSTOMER INTERACTION DATA

Scope of Analytical CRM

Customer behavior modeling

Customer value assessment

Customer profitability

Customer lifetime value

Cont….

Customer profiling and scoring

Customer portfolio optimization

customer interaction.

Achieve Positive Business Results … Over Time

CRM is an ongoing, scientific process …

…not an isolated campaign

or marketing plan

CRM Process Must Balance

Quality of Customer

Experiences

Achieve Positive Business Results

THANK YOU