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Published on March 28, 2008

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Slide1:  Customer Interaction Management Alok Shende Director, Technology Practice 29 October 2004, Goa Agenda:  Agenda What is CRM ? CRM Technology Architecture Need for CIM Application of CIM Background of Indian Interaction CRM space Interaction CRM Case studies Indian Banks Telcos Travel & Hospitality WHAT IS CRM ?:  WHAT IS CRM ? Business approach that understands, anticipates and manages the need of current and potential customer of an organization. Integrating People, Processes and Technology of an organization Effective use of Information about customer to maximize customer satisfaction as well as well as cost reduction and increased profitability for an organization TAKE AN EVOLUTIONARY APPROACH TO CUSTOMER STRATEGY:  TAKE AN EVOLUTIONARY APPROACH TO CUSTOMER STRATEGY Human Resource Transition of perception from viewing customers as exploitable income sources to treating them as assets to be nurtured. Treating CRM as a tool , rather than a strategic effort CRM READING THE FINE PRINT:  READING THE FINE PRINT UNDERSTANDING THE GAP:  UNDERSTANDING THE GAP Implement Processes Implement Technologies Foster Behaviours Treating CRM as a tool implementation exercise rather than a strategic effort Slide8:  Managing Relationships means… Study factors effecting customer behavior Process to transcend the feel good factor to customers Customer Acquisition Customer Retention Customer Delight Benchmark & measure factors: Motivation Job satisfaction Quality of work life Work place communication Leadership Influence, power, politics Organizational structure INVENT NEW WAYS TO CREATE VALUE TO THE CUSTOMER KEEP FOCUS ON WHAT IS IMPORTANT, RATHER THAN TECHNOLOGY:  KEEP FOCUS ON WHAT IS IMPORTANT, RATHER THAN TECHNOLOGY Customer Delight Increase customer profitability – bundle offering:value proposition – strategize differently for high-value and low-cost customers Customer Retention Listen – empathize – adapt – innovate – create value – transcend value – orient to customer loyalty program Customer Acquisition Personalize – innovate – differentiate – show more value – profit the customer CRM rapidly evolving from technology-centric to a business-value effort. CRM TECHNOLOGY ARCHITECTURE:  CRM TECHNOLOGY ARCHITECTURE Component of CRM used for Customer interaction Management NEED FOR CUSTOMER INERACTION MANAGEMENT:  NEED FOR CUSTOMER INERACTION MANAGEMENT Shifting of business focus from traditional CRM system to customer centric approach of CIM CRM Focuses more on departmental efficiency CIM Focuses on Managing Customer consistently CIM is a mix of traditional CRM solutions with suite of Web-based interaction solutions and wireless device transaction management. CIM optimizes every interaction with customers, regardless of channel or contact point CIM requires a centralized information center, applied analytics, and interaction software that can deploy centralized decisions throughout various business processes. Application of Customer Interaction Management:  Application of Customer Interaction Management APPLICATION OF CIM:  APPLICATION OF CIM Application of CIM Assisted Automated Transactions Telephony Management Website Management Email Management Real time Web Collaboration E-mail Management system Dialers, IVR, ASR EMAIL MANAGEMENT SYSTEM:  EMAIL MANAGEMENT SYSTEM Automated transaction : Information about a new product offering or discount schemes Assisted transaction : Reply to the query of a customer about a specific problem faced in a product. Supplements the marketing and sales force-automation processes of an organization Effective and inexpensive system to test market one’s top customer segment. Application in Banking & Finance, Travel & Hospitality and BPOs Major Vendors : Talisma, eGain, Nortel Networks WEBSITE MANAGEMENT SYSTEM:  WEBSITE MANAGEMENT SYSTEM Assisted transaction : Chat with a live agent, guided to choose suitable financial product Automated transaction : Browsing through an interactive web page accessing information about specific product - Various real-time collaborations : instant messaging, live Web conferencing, interactive chat, semi-automated responses and screen or document sharing Multiple sessions handling at a time in asynchronous mode . E-commerce websites, outsourced call centers Major Vendors : Talisma, eGain, Nortel Networks TELEPHONY MANAGEMENT SYSTEM:  TELEPHONY MANAGEMENT SYSTEM Assisted transaction : Predictive dialers for outbound campaigning Automated transaction : Query handling via IVR and ASR like bank account balance enquiry, flight/rail reservation status Hindi and local language processing in ASRs, Speech to text and text to speech conversion Service lines or toll free numbers for presales Convergence of voice, Web and e-mail response Telecom and Banking & Financial institutions Major Vendors : Concerto, Nortel Networks, Nuance, Scansoft Background on Indian Interaction CRM Space:  Background on Indian Interaction CRM Space Key Market Findings:  Key Market Findings The Indian BPO market continues to invest in technology. The Indian ICRM revenues in 2003 stood at $77.0 million The Indian ICRM market accounted for 12.4 percent of total Asia Pacific revenues in 2003 which is a growth of 38.2 percent over 2002 . The market is expected to grow at a CAGR of 19.5 percent Outsourcing non-core and IT services has become the business strategy for growth in the new millennium as such the Outsourced Call Center market in India will continue to dominate the ICRM revenues The Banking & Financial Services Industry and the Telecom vertical will be the next big wave of domestic ICRM uptake in India Key Market Findings:  Key Market Findings Pricing became very competitive in the Indian ICRM market in 2003. Another trend that is emerging is to offer more features while maintaining the same price. The coming years are likely to see the small and medium enterprises (SME) market opening up with enormous business potential for vendors that are able to provide competitive applications at lower price points INDIA ICRM TRENDS-RESHAPING THE MARKET :  INDIA ICRM TRENDS-RESHAPING THE MARKET WHAT ARE END USERS BIGGEST CONCERNS?:  WHAT ARE END USERS BIGGEST CONCERNS? ROI Assessment is Highly Critical Agent attrition is increasing and staffing concerns are a major headache! Consolidation had led to multiple vendor systems/technologies How MUCH of technology is enough and how to achieve judicious blend between technology and business benefits ICRM TECHNOLOGY ADOPTION- ASIA PACIFIC :  ICRM TECHNOLOGY ADOPTION- ASIA PACIFIC Countries in Phase 3 and Phase 4 are now demanding for more value based applications for lesser value Countries in Phase 1 and Phase 2 have only begun to deploy basic applications and this includes India and China. Source :Frost & Sullivan Interaction CRM: Case for Indian Banks:  Interaction CRM: Case for Indian Banks BANKING & FINANCE:  BANKING & FINANCE Continued critical role played by Banking & Finance industry in the growth of the call center market in India Typically set up for the back-office processing (trade, loans, cards, cash management, customer care - both inbound and outbound) Increased usage of call centers for complex functions (financial analysis, HR and marketing and publication) - a definite shift from traditional activities such as data entry and call register Perceived as strategic investment for customer service rather than for generating immediate ROI. Mostly captive units due to high sensitivity of information BANKING & FINANCE:  Expected to increase investment in contact center technology Focus steady on customer service and high technology applications. Applications such as computer telephony integration (CTI), call monitoring, Email and Web solutions likely to gain importance ICRM revenues to increase with large opportunities for cross selling and up selling Some of the Major Deals that materialized across 2003 include: ICICI, SBI, HSBC, ABN AMRO, Birla Global Finance, AVIVA Life Insurance, National Insurance, New India Assurance, Citibank, ANZ Grindlays, HDFC, Birla Sunlife, PNB, Principal AMC Mutual Funds and Kotak Mahindra. BANKING & FINANCE MAPPING CHANNELS WITH CUSTOMER NEEDS:  MAPPING CHANNELS WITH CUSTOMER NEEDS Communication Entertainment Information Transactions Mail Internet Mobile Phone Mobile Phone (SMS) Branch ATM Call Center Web call center TV Broadband PC Narrow Band PC Control by Customer Variety Low Low High High Recent trend on proliferation of channels driven by the need for greater variety and the need for greater the control by customers Banks who align themselves with this relationship have a greater chance of building enduring relationships In the future, dominant leverage of bank branch will be for advisory services. Transactions based services will be in the wane. CHANGING LANDSCAPE OF INDIAN BANKING INDUSTRY:  CHANGING LANDSCAPE OF INDIAN BANKING INDUSTRY Fee based income posing an increasing component of bank’s income as compared to Interest income as in the past ‘It is becoming a customer driven market’. Key drivers: Mass customization of services Increased competition Shifts in demographics & income groups Proliferation of financial products Life cycle management needs of customer Brands Proliferation of Channels leading way for increased focus on Channel Management Productivity growth driven by judicious investments in IT Interaction CRM: Case of Telcos:  Interaction CRM: Case of Telcos TELECOMMUNICATION:  TELECOMMUNICATION Telecommunications industry offers attractive opportunity to call centers, with almost all carriers, cellular operators and Internet Service Providers - setting up call centers. Intense competition and low customer loyalty force service providers to invest heavily in call center and customer care operations. Large carriers like BSNL and MTNL have set up their own captive call centers catering to vast population across diverse geographies. Multi-modal applications get popular amongst the mobile operators as a source of high revenue generation. TELECOMMUNICATION:  TELECOMMUNICATION In-house or captive call centers more popular among service providers as they can set up the centers in their existing premises, tapping into their available network resources and expertise. However,with phenomenal increase in the number of subscribers for basic and cellular services - opportunities to arise for outsourcing the services to third party contact centers. Call center applications gain increasing level of complexity as most large carriers have installed integrated customer support and help-desk solutions that enable customer self-help, and multi-channel support. Industry more inclined to a multi-channel contact center scenario thereby opening all channels of communication for its customers. As such these service providers are likely to invest in unified solutions for their contact center applications. Major deals that took place across 2003 are: BSNL, MTNL, Hutchison Max, Airtel, BPL, Bharti Televentures and Reliance Interaction CRM: Case of Travel & Hospitality:  Interaction CRM: Case of Travel & Hospitality TRAVEL & HOSPITALITY:  TRAVEL & HOSPITALITY An increasingly attractive vertical for call center operators as an industry potential to bank heavily on outsourced services. Apart from traditional activities such as request logging, hotel and travel booking and billing, would also look to call centers for assisting in their marketing and customer reach efforts. Level of complexity of applications could be restricted to ACD, predictive dialing, IVR and e-mail. Companies that have a large consumer base and contact volumes are high investing in third party contact centers for providing services or setting up 15-30 seat call center. Major wins across 2003 include Asian Paints, Procter & Gamble, Hyundai, Maruti udyog, Volvo, Eureka Forbes, Whirlpool, Emirates, Jet Airways, Air India, Lufthansa, Cathay Pacific, Thai Airways, Scandinavian Airlines, Sita Travels, Hyatt Shared Services, etc Slide34:  YOUR STRATEGIC PARTNER IN SUCCESS Alok Shende Technology Practice, Frost & Sullivan India : + 91 22 28324705 ashende@frost.com

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