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different technology of Customer relationship management
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Closed Loop Marketing (360 Degree Marketing) and, Data Mining, Cross-selling/up selling. Technology for Customer Relations: Contact centre Technology, Front Desk Management Technology, CRM Technology and Customer Data Management. e-CRM ; Its Importance; Recognizing Barriers to Internet Adoption
.There are, four distinct points that we need to consider in 360 Degree Marketing and they consist of:
ļ½ (^) Increased loyalty and cooperation from your operational team .A better aligned and motivated R&D team ļ½ (^) Full support for your ideas, product and service developments, and campaigns from the finance guys ļ½ (^) A supportive and engaged senior and non executive management ļ½ (^) All the benefits of an integrated commercial ācommunityā fully aligned and working together 270Āŗ ā The Suppliers - ļ½ (^) Why Market to the Suppliers? ļ½ (^) āTheyāre our suppliers for goodness sake. They should be grateful for whatever orders we give them. Itās them that should be marketing to us not us to them. We control their success. Itās them that should be worried about our issues and challenges not us about theirs.ā ļ½ (^) Well not necessarily. Youāll know from your own point of view that when your customers deal considerately with you, you tend to work harder for them. If they are loyal to you, you tend to be more loyal to them, more involved with and interested in them. So it will be the same for your suppliers.
ļ½ (^) If you want them to work with and support you, to offer you the best deals on their products and services, to see you as a key customer that they admire and like and want to go the extra mile for, then you need to convince them of your worth (and that means much more than simply the order value). You need to tell them about your successes and to sell them the idea of seeing you as one of their key customers. You want them, too, to believe in your future. Where possible you might want their help and support in your campaigning, in offering you discounts and special deals and in giving you exclusives and even financial support. To do all of this you need to market the benefits of doing business with your organisation to them and keep doing it so that they too support you in all you are doing. ļ½ (^) All of this is especially true for organisations involved in wholesaling, distribution or who are a providing a channel to the consumer. As you can only be as good as the products that are supplied to you and the organisations that supply them, then you are completely dependent on them. Without their wholehearted support your business will always be held back and your potential limited.
Data mining is the process for extracting and presenting new knowledge, previously undetectable, selected from databases for actionable decisions. It is the process of analyzing detailed data, to extract and present actionable, implicit, and novel information to solve a business problem. It is the process of extracting valid, previously unknown, and ultimately comprehensible information from a large database and using it to make crucial business decisions. It is the process of selecting, exploring and modelling large amounts of data to uncover previously unknown patterns for business advantage. More and more managers are using data mining to help solve their most critical business problems, for example, to increase market shares to improve internal productivity, or to gain a competitive edge. Data mining expectations need to be realistic, and they must be found on a true understanding of what it is and what it can and cannot do. It is to relate real-world business problems where data mining can play a key role in relationship solutions. There are applications for the technology of data warehousing and/or data mining towards solving business problems, like: (a) Customer profitability (b) Customer retention (c) Customer segmentation (d) Customer propensity (e) Channel optimization (f) Targeted marketing (g) Risk management (h) Fraud prevention (i) Market-basket analysis (j) Demand forecasting (k) Price optimization Data Mining
Cross-selling and up selling are marketing techniques that are applied during the sales process to increase the value of the transaction to both the buyer and the seller. Technically, they only increase the value to the seller ā but they should also be increasing the value to the buyer. The key idea behind both cross-selling and up selling is that you are changing a transaction that is already in process. You might think that marketing ends once buying begins. Not so. Marketing is about getting the right message (buy something from us) to the right person (someone who needs our products) at the right time (when they are ready to buy).
ļ½ (^) Economics of Cross-selling ļ½ (^) Cross-selling is when you convince a customer (who is in the process of buying something) to buy an additional product. When you successfully cross-sell a product, you are increasing the revenue for the order. This results in an increase in average revenue per order. The sale of the additional product will also increase the average gross profit per order. The cross-sell may increase the gross profit margin of the order, or it may not. When the product originally being purchased is less profitable than the additional product being cross-sold, the margin is increased. When the original product is more profitable than the additional product, the margin is decreased. ļ½ (^) If your current operations strategy involves increasing your profit margins, you need to make sure your cross-sell activities only recommend additional products with higher margins than the products against which they are being cross-sold. When your strategy is prioritizing growth over profitability, your cross-sell activities should focus on conversion ā increasing the percentage of the time are you successfully cross-selling additional products.
Customers contact inbound centres to buy things, such as airline tickets; to get technical assistance with their personal computer; to get answers to questions about their utility bill; to get emergency assistance when their car wonā t start; or for any number of other reasons for which they might need to talk to a company representative. In outbound centres, representatives from the company initiate the call to customers. Your first reaction might be, ātelemarketing, right?ā Well, yes, telemarketing is a reason for a company to contact you, but companies have lots of other good reasons to contact their customers, as well Companies might call because the customer hasnāt paid a bill, when a product the customer wanted is available, to follow up on a problem the customer was having, or to find out what the customer and other customers would like to see by way of product or service enhancements. Outbound contact centres are, most often, very telephone centric. Whereas inbound centres can handle many different ways of contact, outbound centres most often use telephones because of, well, tradition and perception. It is not unusual for a companyās representatives to call a customer on the phone, but it is more unusual for them to send an e-mail to a customer. If companies send out e-mail to customers, it is often done through some mass-mailing effort, not as one-on-one contact. Perception enters into the picture because people are very quick to categorize unexpected e-mail as spam, but less likely to be upset by unexpected phone calls.
Speech-enabled systems are more sophisticated and easier for the customer to use. In such a system the customer actually speaks a response, rather than needing to press keypad buttons. Speech-enabled systems are a great boon for cell-phone using customers because they no longer need to perform gymnastics to keep pressing buttons on their phone. As speech-enabled systems become more sophisticated, customers will be able to ask questions directly to the self-service system and get a wide variety of answers. ļ½ (^) Internal/External ļ½ (^) Just as contact centres can be designed as inbound or outbound, they can also be designated as internal or external. ļ½ (^) (I almost said in-house or out-house, but figured that the unintended allusion might be distracting.) When companies are small, they often develop their own contact centre capabilities internally. As companies grow, they often look to outsource their contact centre functions, or they spin off those functions to a subsidiary or partner company. ļ½ (^) This is where the concept of the external contact centre comes into playāthe centre is external to the main company. ļ½ (^) In fact, companies that provide nothing but contact centre functions to other companies have grown into a multi-million dollar industry. At last count the traditional call centre industry employed more than 6 million people in North America alone, and accounted for the sale of more than US $700 billion in goods and services. Through todayās contact centres you can purchase, complain, or just talk about almost anything from the comfort of your home, office, car, or wherever you can get to a phone (or log on to the Internet) customer service person or entire departments, the principles by which a contact centre are operated are still the same. People involved in customer contact need the same skills and the same tools, regardless of the number of people involved. ļ½ (^) Thus, the information in this book has applicability regardless of the size of your operation, and regardless of whether your operation is internal or external.
What Makes a Good Contact Centre? In general, the things that make a good contact centre are also the same things that make a good business. For instance, a good contact centre has a strong culture where people work from a common set of values and beliefs and are bound by a common purpose and a strong focus on the business objectives. Just as in any business, effective management continually aligns everything the contact centre does with its business objectives and desired culture. Generally, as Figure 6.1 illustrates, you should look for your contact centre to deliver in three areas:
Figure 6. 1 Mutually Dependent Business O b j e ct i v e s
