payne's model of crm
TRANSCRIPT
Presented By:-
Sougata Pan
Priyatama Vidushi
Payne's Model of CRM
‘Customer relationship management may be described
as the strategic process involved in developing
interactions between a company and its customer with
an objectives of Optimizing current values of
customer’.
WHAT IS CRM ?
Model developed by Adrian Payne’ the model identifies five core processes in
customer relationship management CRM such as the strategy development
process, value creation process, multichannel integration process, performance
assessment process and the information management process.
PAYNE’S MODEL
BUSINESS STRATEGY1.BUSINESS VISION2.INDUSTRY AND COMPETATIVE CHARACTERISTS
CUSTOMER STRATEGY1.CUSTOMER CHOICE AND CUSTOMER CHARACTERISTICS2.SEGEMENT GRANULARITY
STRATEGY DEVELPOMENT PROCESS
VALUE CUSTOMER RECEIVES1. VALUE PROPOSITION2. VALUE ASSESSMENT
VALUE ORGANIZATIONRECEIVES1.ACQUISITION ECONOMICS2.RETENTION ECONOMICS
CU
STOM
ER SEG
MEN
T LIFETIME VA
LUE A
NALYSIS
COCREATION
SHAREHOLDERRESULTS1.EMPLOYEE VALUE2.CUSTOMER VALUE3.SHAREHOLDER VALUE4.COST REDUCTION
PERFORMANCE MONITORING1.STANDARDS2.QUANTITATI-VE AND QUALITATIVE MEASUREMEN-T3.RESULTS AND KEY PERFORMANCE INDICATORS
DATA REPOSITORY
IT SYSTEMS ANALYSIS TOOLS FRONT OFFICE APPLICATION
BACK OFFICE APPLICATION
SALES FORCE
DIRECT MARKETING
ELECTRONIC COMMERCE
OUTLETS
TELEPHONY
MOBILE COMMERCE
INTE
GR
ATED
CH
AN
NEL
MA
NAG
EMEN
T
VALUE CREATION
MULTICHANNEL INTEGRATION PROCESS
PERFORMANCE ASSESSMENT PROCESS
PHYS
ICA
LVI
RTU
AL
• STRATEGY DEVELOPMENT PROCESS:- It is concerned with integrating the business strategy from organization angle and customer strtegy as to how firm interact and choose their customer
• VALUE CREATION PROCESS:- The main purpose of identifying the value the firm can create for customer and the value the organization can also benefit from.
• MULTICHANNEL INTEGRATION:- It consist of all virtual and physical channels with which the firm plans to interact with. But the main thing here is that, regardless of channel contact, the aim is to create an experience that is uniform and also common.
• INFORMATION MANAGEMENT SYSTEM:- It consist of many different of data repository it systems, back and front office applications and analytical tools. It is thus necessary to access the visibility of the system.
• PERFORMANCE ASSESSMENT PROCESS:- It is concerned at the strategic monitoring can be used to determine customer satisfaction and standards.
Taking a Hypothetical Example of Flipkart….
• Integrated marketing channel
• In IDIC ,there is no storage channel
• It is a comprehensive model
• It talks about cross domain integration
• There is also a co-creation process
How different it Is……
• CRM is understanding customers and their expectation , and offering them pre searched valuable service or products .
• “Nurturing excellent customer relationship builds this defensive wall around a business that most competitors struggle to break down”.
Conclusion
