CRM in Thomos Cook

8/6/2019 CRM in Thomos Cook

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Customer Relationship

Management

Customer RetentionPresented to:- Performed by:-

Professor A. Arora Aditya Joshi

Anuj Sharma

Arup Das

Disha Kapoor

Pawan Rathi

Varun K. Dadlani



Customer Retention

� Customer Retention is the activity that a selling organization

undertakes in order to reduce customer defections.

� It starts with the first contact an organization has with a customer

and continues throughout the entire lifetime of a relationship.

� Companys marketing ability to attract & retain customers

� It is giving customers more than what they expect, and being loyal

to their customers.



Strategies of Retaining Customers

� Business owners must involve focusing on employee retentionand satisfaction. An employee of the company can maintainstrong personal and direct relationships with its customers.

�Strategy for retaining customers involves institutionalizingcustomer relationships.

� companies may be able to use electronic links to improve theservice they provide to customers.

� In volatile industries include providing stable prices over thecustomer life cycle, basing prices on the overall cost andprofitability of the customer relationship, and cross-sellingadditional products and services.



Significance of Customer Retention

A customer retention plan is a necessity in order to develop and

maintain great relationships with existing customers.

�

Keep your Current Customer Base� Maintain Customer Information

� Become a Consultant/Adviser

� Improve Communication

� Become a Leader in the Industry� Create a Positive Work Environment.



Travelex profile

Travelex is right now the largest non-bank provider of foreign exchange services. It manages to provideintegrated solutions for businesses worldwide. It has

branches in 35 countries worldwide with 700 retailbranches and catering to 6000 customers. Its customerdatabase is constantly growing thanks to theimplementation of a CRM solution. The companycurrently acquired Thomas Cook global & financial

services. It employs around 6,000 people. Its servicecan be availed of 24 hours a day, 365 days a year. It iscurrently a global leader in technology and innovation.



Corporate office

Group Head Office

65 Kingsway

LondonWC2B 6TD

T: +44 (0)20 7400 4000

F: +44 (0)20 7400 4001



TRAVALEX CARD

Travelex services includes world wide air ticketing,business literary planning, vacation literary planning,Free & easy tours, coach touring holidays, foreignexchange/travelers cheques local and international

cruises, travel account management, hotelarrangement, car rental etc. Its retail branches arefound all the important tourist and business centerglobally and also at crucial centers near airport,seaport and railways. Travelex Insurance endeavors to

provide for travel investment, emergency medicalexpenses etc. Travelex insurance protection packagesprovide financial security against accidents that areunforeseen.



Results of C.R.M implementationThe normal time that was needed to market new products

was reduced. In addition to that the time spent in forecasting

and reporting had also decreased. It helped the company

acquire more knowledge about its major customers.

Travelex, as a result

of this CRM implemen

tation acquired a

more coordinated approach to its customers. This enabled

the company to have a holistic picture across all continents.

It also helped the sales executives in their dealings with their

customers which increased the revenue potential of the

company. In addition the customer experience was greatlyimproved. Sales force.com's CRM solution also managed to

increase the response time and enabled the sales and service

sector to share vital information which was fundamental to

the growth of the organization.



Conclusion

Todays customers are becoming harder to please. They aresmarter, more price conscious, more demanding, less

forgiving and they are approached by many more competitors

with equal or better offers. The challenge is not to produce

satisfied customers; several competitors can do this. The

challenge is to produce delighted and loyal customers. If

these customers are retained with the organization, they

become really profitable by way of increase in purchasing,

reduced operating costs, price premiums and through

referrals.Too many companies suffer from high customerdefection, It is like adding water to a leaking bucket. Various

strategies such as measuring customer life time value,

efficient complaint management system and service recovery

strategies can be really helpful in retaining customers.



Thank You

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CRM in Thomos Cook