Integrated CRM Strategy Plan
Students must research National Australia Bank (NAB). Students are strictly forbidden to contact either the organisation or any of its employees for the purpose of this assignment, whether formally or informally. Based strictly on secondary information ranging from websites, press releases and industry publications among other sources, students should describe the CRM approaches used by the selected organisation and compare it to its competitors and other relevant companies. For example, the following areas could be analysed to discuss the CRM initiative of an organisation: 1. Marketing Automation applications give marketers the ability to create, plan and execute their campaigns to a targeted audience. By using CRM, marketers can also access the necessary business intelligence to better understand which campaigns are working and which customers to target with a specific offer. This type of information reduces wasted time and money on sending out the wrong promotion to the wrong customer. 2. Sales Force Automation or SFA helps sales people track leads and opportunities for forecasting and to Sales Force Automation or SFA helps sales people track leads and opportunities for forecasting and to optimize their sales across all sales channels. SFA also helps reps target whom to call on, what to sell, and to understand how their customers prefer to buy their goods or services. 3. Customer Service applications enables reps to resolve service issues throughout multiple channels, whether it be through the Web, a call centre, fax or field service rep. Customer Service applications and Interaction Centre applications enable customers to solve their own problems on a self-service model for efficient problem resolution. The key is to have all your customer information integrated. This provides each department with a 360-degree view of the customer, and ensures that the data is current and complete. For example â€“ Marketing has data on markets, prospects, and lists. This is also supported through a third party vendor. But marketing needs to drive generated leads to Sales for follow up. The marketing department also could use feedback from service and sales about what campaigns are working. â€˜Salesâ€™ has customer information on transactions and buying preferences. These are the type of trends in consumer buying behaviour that marketing could use to plan upcoming promotions and marketing campaigns. Customer Service has excellent customer feedback, but itâ€™s not looping back into marketing department. This is the type of data that can act as the foundation for upcoming marketing campaigns. Customer Service can also provide sales reps important product information or specific account issues that would be invaluable for sales to have before they call on an account. Finally, Customer Service can be used for cross sell and up sell opportunities. In formulating recommendations for a new CRM strategy or improving on an existing CRM strategy, students are expected to critically comment on the following aspects of the organisation: 1. Structure: For example, organisational departments will be restructured for better integration for maximum business efficiencies to better share customer information. They will no longer exist as separate entities. 2. Process: As departments begin to work together, they will discover ways to interact more efficiently.Culture: Employees need to change their thinking and the way they conduct their work. They must begin to work efficiently with other departments and other divisions around the world, in cases where a multinational organisation is considered. Additionally, many of the daily functions of an organisation can be performed via the World Wide Web â€“ which requires a change in both procedure and attitude. 4. Technology: The final, obvious change will be in applying a new technology. Companies will add the latest tools to help everyone get their jobs done, but also to help customers manage their business. Organisations donâ€™t make changes of such magnitude overnight. Therefore, appropriate timelines need to be provided for the proposed recommendations.
Table of Contents Introduction Purpose of report. Structure of the report.
Company Overview General information about the company. Recent customer relationship initiatives or issues.
Conceptual background Use Customer Relationship theory to demonstrate the importance of customer relationship management and applications of CRM. Discuss two relevant theory models.
Analysis Use the two relevant theory models in the â€˜conceptual backgroundâ€™ and evaluate them to the company. Use company information, theory from the textbook and journal articles, industry information and comment on the ethical and sustainability issues Findings Present the company the CRM related information you have found. Present your findings using the relevant information within the â€˜analysisâ€™ section. Recommendations Make recommendations for improvement to the company.
Conclusion Sum up the document.
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