E- CRM

This chapter provides the basics of Electronic Customer Relationship Management and gives a clear idea about the e-CRM. It also gives the knowledge of changing perspective of the e-CRM practices

1. Technological Developments in CRM – e-CRM Lecture by: M. Srinivas

2. If you make customer unhappy in the physical world, they might each tell 6 friends. If you make customer unhappy on the internet they can each tell 6,000 friends. - JEFF BEZOZ

3. Learning Objectives: Learn the concept of e-CRM and its relevance to service industry. Know the various advantages of e-CRM Understand the different e-CRM Technologies Develop diverse e-CRM softwares Learn formats of e-CRM applications

4. Technological Developments in CRM – e-CRM Introduction e-CRM: An Information Technology Tool e-CRM in Business

5. CRM: A CHANGING PERSPECTIVE

6. e-CRM: Definition The  eCRM  or  electronic customer relationship management  coined by Oscar Gomes encompasses all standard CRM functions with the use of the net environment i.e., intranet, extranet and internet. Electronic CRM concerns all forms of managing relationships with customers through the use of information technology (IT). eCRM processes include data collection, data aggregation, and customer interaction. Compared to traditional CRM, the integrated information for eCRM intraorganizational collaboration can be more efficient to communicate with customers.

7. FEATURES OF e-CRM It is driven by a data warehouse which maintained by the organizations during purchases. It focuses on reaching out to the customers across multiple channels. It enables a company to accommodate new market dynamics that place the customer in control. It is structured to identify a customer’s profitability or profit potential, and to determine effective investment allocation decisions accordingly, so that the most profitable customers could be identified and the resources could be invested in relationships, which are most profitable

8. Advantages of e-CRM Lowers the cost Adaptability to new technology Availability Integration with the system Helps data construction Increased customer interaction Maneuverability Managing data reservoir 9. Lesser response time Lower marginal cost New customer service opportunities Reach and service personalization Automatic self documentation User control

9. e-CRM Technologies

10. Functional Components of CRM Solution

11. Important CRM Software Programs

12. Applications of e-CRM