mikhail.ait
New member
Amazing stuff on CRM ... Will help me a lot...
Can you send me the original project on [email protected]
Thanks in advance
Can you send me the original project on [email protected]
Thanks in advance
Customer Relationship management
- Thread starter an_ruia1
- Start date
Case Study-1
DATA, Data, Everywhere... Now to make sense of it all... There are at least 200 call centres that dot the country today. Each one of these set-ups is involved in the process of customer solicitation, which they conduct via a mix of channels such as the telephone, e-mail, fax and even SMS. On an average, each centre has the capacity to handle five multi-channel campaigns at one go.
Have you ever paused to wonder then what is being done with all the customer data that is generated? I can't think of any one amongst us in today's age, who has not received a phone call and been greeted by an ingratiating voice at the other end of the line, asking us if we would like to subscribe to a credit card, change our mobile tariff plan, avail of a new service, etc. As the recipient of such a call, have you ever engaged in a fruitful conversation with the caller? Have you ever thought that the service being offered is custom made for you? Have you ever been impressed by the caller's knowledge of your past record with the company?
Consider a situation wherein a leading bank executes a campaign to promote its credit card product. The campaign comprises three rounds of calling followed by mailings to interest the prospect. When the tele-caller rings a prospective customer to offer a credit card, the response could either be direct, in which case the prospect explicitly states his/her preference or an indirect response where the caller has to infer a response. The problem arises when the tele-caller as per the schedule rings the prospect with the indirect response 15 days later.
In an ideal situation, the tele-caller needs to be empowered with information that will interest the caller based on the previous conversation that has transpired. This could either be a counter offer or another product, which might be of interest to him/her like an auto or home loan or maybe a credit card with more esteem value at the same price. But, due to inadequate information from the company to the call centre, the above cannot and does not take place.
Calls end up just being made ad hoc and totally independent of each other. From the above one thing is clear — that even in the event of an inferred response, it is imperative that companies zero in what needs to be done to increase the success rate of the campaign resulting in increased returns on marketing spends. An inferred response, if suitably captured helps companies develop a robust feedback mechanism that constantly tracks, monitors and refreshes the company's records. Thus, when subsequent calls are executed in the future, past learnings can be incorporated and the whole process becomes iterative in nature.
Enter the role of a campaign management solution. The true success of a campaign management solution rests on the principle: What goes around comes around. The solution starts from helping marketers select and segment customers and track the contacts already made with customers. This data is passed on to the call centre in the format of customer call lists, campaign reference data, and marketing contact history.
The customer call lists are generated from predictive models that are built using customer data. These models assign a score to each customer, which indicate risk, profitability and/or propensity (to respond, buy, cross sell, up sell).
As a result the strategy adopted to address each customer segment identified is different and caters to their specific needs, whether it is a product, a service or a channel.
In such a scenario the tele-caller is empowered with relevant information and is able to effectively convert prospects into customers or increase the value derived from existing customers at the same cost.
The campaign management solution when deployed well helps in perfecting targeting and ensures every successive campaign is a well thought out model of the previous campaign's results. It's time marketers sit back and think if they have efficient and effective mechanisms to manage their campaigns. And, more importantly, how much not having one is costing them!
1. What is the essence of this case study?
2. What is the strategy adopted in order to satisfy the customer?
3. In the above cases what type of customer’s relation helps the organization?
TASK-1: Give the merits of procuring more data for analyzing the customers requirement
TASK-2: Customer Satisfaction has varied ways-mention them with their benefits.
TASK-3:The role played by the effective data of customers helps the marketing man-list out those factors.
DATA, Data, Everywhere... Now to make sense of it all... There are at least 200 call centres that dot the country today. Each one of these set-ups is involved in the process of customer solicitation, which they conduct via a mix of channels such as the telephone, e-mail, fax and even SMS. On an average, each centre has the capacity to handle five multi-channel campaigns at one go.
Have you ever paused to wonder then what is being done with all the customer data that is generated? I can't think of any one amongst us in today's age, who has not received a phone call and been greeted by an ingratiating voice at the other end of the line, asking us if we would like to subscribe to a credit card, change our mobile tariff plan, avail of a new service, etc. As the recipient of such a call, have you ever engaged in a fruitful conversation with the caller? Have you ever thought that the service being offered is custom made for you? Have you ever been impressed by the caller's knowledge of your past record with the company?
Consider a situation wherein a leading bank executes a campaign to promote its credit card product. The campaign comprises three rounds of calling followed by mailings to interest the prospect. When the tele-caller rings a prospective customer to offer a credit card, the response could either be direct, in which case the prospect explicitly states his/her preference or an indirect response where the caller has to infer a response. The problem arises when the tele-caller as per the schedule rings the prospect with the indirect response 15 days later.
In an ideal situation, the tele-caller needs to be empowered with information that will interest the caller based on the previous conversation that has transpired. This could either be a counter offer or another product, which might be of interest to him/her like an auto or home loan or maybe a credit card with more esteem value at the same price. But, due to inadequate information from the company to the call centre, the above cannot and does not take place.
Calls end up just being made ad hoc and totally independent of each other. From the above one thing is clear — that even in the event of an inferred response, it is imperative that companies zero in what needs to be done to increase the success rate of the campaign resulting in increased returns on marketing spends. An inferred response, if suitably captured helps companies develop a robust feedback mechanism that constantly tracks, monitors and refreshes the company's records. Thus, when subsequent calls are executed in the future, past learnings can be incorporated and the whole process becomes iterative in nature.
Enter the role of a campaign management solution. The true success of a campaign management solution rests on the principle: What goes around comes around. The solution starts from helping marketers select and segment customers and track the contacts already made with customers. This data is passed on to the call centre in the format of customer call lists, campaign reference data, and marketing contact history.
The customer call lists are generated from predictive models that are built using customer data. These models assign a score to each customer, which indicate risk, profitability and/or propensity (to respond, buy, cross sell, up sell).
As a result the strategy adopted to address each customer segment identified is different and caters to their specific needs, whether it is a product, a service or a channel.
In such a scenario the tele-caller is empowered with relevant information and is able to effectively convert prospects into customers or increase the value derived from existing customers at the same cost.
The campaign management solution when deployed well helps in perfecting targeting and ensures every successive campaign is a well thought out model of the previous campaign's results. It's time marketers sit back and think if they have efficient and effective mechanisms to manage their campaigns. And, more importantly, how much not having one is costing them!
1. What is the essence of this case study?
2. What is the strategy adopted in order to satisfy the customer?
3. In the above cases what type of customer’s relation helps the organization?
TASK-1: Give the merits of procuring more data for analyzing the customers requirement
TASK-2: Customer Satisfaction has varied ways-mention them with their benefits.
TASK-3:The role played by the effective data of customers helps the marketing man-list out those factors.
Case Study-2
As a service provider who makes use of outbound telemarketing campaigns, the statistic may shock you, but in eight out of 10 cases, most of us will answer no to the above questions and end up dodging such calls. Today, when consumer patience is constantly shortening, companies cannot afford to over solicit some customers, incorrectly time messages or make inappropriate offers to the wrong target audience.
Overcoming such customer targeting risks becomes even more crucial, when the number of competing companies is at an all-time high and when there exists a huge array of products and services from which to choose from. To ensure that companies exploit their window of opportunity with customers/prospects necessitates effective segmentation and prioritisation of audiences.
This may sound simple enough, but ends up being a herculean task for today's companies that need to integrate data collected from various customer contact points. Ineffective targeting is a result of incorrect use of the data that a company/service provider already has about its customers. While the data may exist, if it is not appropriately collated and then leveraged, you get situations where companies don't know too much about their customers or who their prospects are.
If you're thinking this sounds like a case of CRM gone wrong, you're not way off the mark. The root of the problem is that most companies don't realise that call centres are not the end but a means to an end. It follows that call centres are not isolated appendages to the CRM system. They need to be integrated into the CRM process, to generate desired data. Companies, however, are still stuck in the conventional database marketing approach with little or no business rules that govern the process of outbound telemarketing campaigns.
However, what companies don't realise is that the less information they share with their call centre, of less impact will be the campaign. When information from the company is lacking, critical data gaps get created. To take a look at how severe these data gaps can be and how they in turn lead to a vicious cycle of unprofitable calls, let's evaluate the basics of what can happen during a call.
Questions:
1.Is the Call centre working effectively in helping the customers?
2.What is the role of detailed information collected from the customers to build good relations wi8th the business organization?
3.How effective is telemarketing services?
As a service provider who makes use of outbound telemarketing campaigns, the statistic may shock you, but in eight out of 10 cases, most of us will answer no to the above questions and end up dodging such calls. Today, when consumer patience is constantly shortening, companies cannot afford to over solicit some customers, incorrectly time messages or make inappropriate offers to the wrong target audience.
Overcoming such customer targeting risks becomes even more crucial, when the number of competing companies is at an all-time high and when there exists a huge array of products and services from which to choose from. To ensure that companies exploit their window of opportunity with customers/prospects necessitates effective segmentation and prioritisation of audiences.
This may sound simple enough, but ends up being a herculean task for today's companies that need to integrate data collected from various customer contact points. Ineffective targeting is a result of incorrect use of the data that a company/service provider already has about its customers. While the data may exist, if it is not appropriately collated and then leveraged, you get situations where companies don't know too much about their customers or who their prospects are.
If you're thinking this sounds like a case of CRM gone wrong, you're not way off the mark. The root of the problem is that most companies don't realise that call centres are not the end but a means to an end. It follows that call centres are not isolated appendages to the CRM system. They need to be integrated into the CRM process, to generate desired data. Companies, however, are still stuck in the conventional database marketing approach with little or no business rules that govern the process of outbound telemarketing campaigns.
However, what companies don't realise is that the less information they share with their call centre, of less impact will be the campaign. When information from the company is lacking, critical data gaps get created. To take a look at how severe these data gaps can be and how they in turn lead to a vicious cycle of unprofitable calls, let's evaluate the basics of what can happen during a call.
Questions:
1.Is the Call centre working effectively in helping the customers?
2.What is the role of detailed information collected from the customers to build good relations wi8th the business organization?
3.How effective is telemarketing services?
dalvichitra
New member
hey do u hv info regarding crm in banking .........
rockin.rigma
New member
good work dude....!!!!!!
keep it up.
if u have some material in context with construction industry pls lemme know
thanks
keep it up.
if u have some material in context with construction industry pls lemme know
thanks
aksh_heven
Akshay Gandhi
good work ........detailed and explanatory content on CRM....really helpful
prashantwagh88
New member
gr8 research work done buddy!! thanks fr d guidance!
leadermedia
New member
myinvestorsplace
New member
Thank you for sharing this use full information information we would be great full if you provide detailed information and also some advantages about the Customer Relationship management.
vickykumar0075
Banned
it's really nice work and this shows ur hard work.carry on buddy
priyanka dubey
New member
great job.. thanks alot for sharing with us ur knowledge about CRM..