Customer Relationship Management

Customer Relationship Management, also known as CRM, helps businesses successfully implement strategies, practices and technologies aimed at winning and retaining customers profitably. The objective of this business and management course is to equip you with a sound foundation of CRM concepts and best practices so you can implement CRM practices successfully for long-term profitability.Businesses aim to win and keep customers. Their competitors also seek to do the same. Even the most successful firms, with excellent marketing programs for attracting customers, have trouble with customer retention.In this course, you will learn how to shift from a short-term customer transaction-based mode of operation to a long-term relationship mode and understand the benefits of having strong customer relations.Topics covered include:Customer retentionCustomer centricityCustomer lifetime valueCustomer value managementWhat you'll learnThe meaning and application of CRMBenefits of CRM to companies and consumersHow to implement CRM best practicesThe importance of bonding and building loyalty with customersHow to build long term customer relationships

Week 1 : Introduction to CRM

• Meaning and definition of CRM, benefits of CRM, why should businesses adopt CRM

Week 2 : Building Customer Relationships

• The why’s and how’s of building relationships with customers.

Week 3 : Economics of CRM

• Lifetime value of customer, Activity based costing for customer profitability analysis

Week 4 : CRM Applications

• Applications of CRM in different industries

Week 5 : CRM in Business Markets

• CRM practices in Business Markets

Week 6 : CRM implementation

• CRM implementation process, precautions related to CRM implementation.