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Group presenters: Jithandera Hundia Abhishek Aggarwal Mayank Trividi M. Saleem Mir. Kapil Sharma Saumitra Silakari Sudarshan Sarangapani Jai Singh Rathore
CRM Defined
A comprehensive customer loyalty management (or CRM) strategy and solution manages all customers interactions in a consistent and value oriented manner
Cont
The Gartner Group states that CRM is a business strategy designed to optimize profitability, revenue and customer satisfaction. To achieve this the integration of people, processes and technologies is required in a collective effort to:
Acquire new customers through effective marketing campaigns and marketing analysis Grow existing customer base through expanded service offerings that target untapped travel opportunities Retain most valuable customers by understanding and proactively addressing individual values and preferences.
CRM focuses on
Customer acquisition
Who are the profitable customers ? How do we attract them?
Customer development
How do we deliver what the customer wants? How they want it? When they want it to optimize profits and revenue?
Customer retention
How do we build and sustain customer loyalty?
CRM need to be
There are many means of achieving these goals, including: Understanding customer value and lifecycle to prioritize marketing and service resources Using customer information to target promotional offers and cross-selling activities effectively Using customer information in the design and development of products and services Recognizing customers as individuals at all customercontact points Offering personalized or mass-customized service Utilizing multiple alternate channels for marketing, sales and service transactions in order to improve service and reduce cost Increasing the share of customer through greater penetration of travel related products.
Effective CRM
steps involved in establishing effective customer relationship management using the Web: Capture customer information, Build a customer database and Create personalized communication
2. The economics of customer retention are unequivocal; 3. Technology allows airlines to do this more effectively and profitably today.
BUT UNFORTUNATELY!!
Methods of CRM
Customer segmentation CRM initiative development Organizational design and management
E- CRM
Today, more and more airlines are using the Internet to implement e-business applications and CRM strategy. e-CRM involves far more than automating processes in sales, marketing, and service
E-CRM
Also increase the efficiency of these processes It involves conducting interactions with customers on a more informed basis and individually tailoring them to customers' needs.
E-CRM
What differentiates airlines in today's hyper-competitive market is their ability to address their customers Preferences Priorities Establishing and strengthening longterm relationships with airline's customers is the key to success.
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