Question

COMPLETE THE FOLLOWING LEARNING ACTIVITY. ASSIGNMENT In a text leg. Microsoft Word document, answer the following questions thoroughly and concisely Ensure to support your answers with module reading/viewing references and/or other valid and reliable resources PART A (12 MARKS - 3 MARKS FOR EACH TOOL) A Customer Relationship Program (CRM) program primarily attempts to monitor and/or manage three things: an organization's customers, salesforce, and customer service level. List three different tools or components of CRM for each of three areas: 1. Customers 2. Sales Force 3. Customer Service Level Describe how each tool or component is utilized in the monitoring and/or managing of the customers, sales force, or customer service level. PART B (20 MARKS - S MARKS PER CUSTOMER VALUE MEASUREMENT) A bank wants to apply the following customer value measurements to their international customer callcenter services: 1. Queuing management 2. Global service considerations 3. Facilitating products 4. Service quality expectations Differentiate and explain the implementation points for each customer value measurement stated 30 &

answer part a & b?

Answer 1

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(A)

Customers:

Segmenting customers:

Companies categorize customers in different ways for the purpose of providing various types of target marketing programs to specific customer segments. By analyzing customer information and targeting specific customer groups, organizations can benefit from avoiding unnecessary communication and marketing efforts aimed at the wrong customers. Customer segmentation can occur based on sales territory or region, preferred sales channel, profitability, products purchased, sales history, demographic information, desired product features and service preferences, just to name a few.

Relationship marketing or permission marketing is an extension of target marketing. Mobile marketing gains its popularity by allowing customers to opt-in and opt-out to get all of their services through mobile phones. By allowing customers to select their interaction preferences - what information they want, when and how they want it, firms can design tailored marketing campaigns for specific segments of their customer base. Firms can also save money and enhance efficiency by automating some marketing process.

Cross-selling provides additional profits by selling additional products or services to customers. For example, Bell suggests its home internet customer choose its mobile phone service.

Predicting Customer Behaviors:

Using data-mining technology to analyze customers’ historical purchasing behaviors and thus predict future behaviors is a method that firms adopt to adjust pricing policies and design promotions to specific customer groups.

Customer defection analysis falls under this category. Analysing which customers are not satisfied with the products or services why can be valuable for firms. Firms use the knowledge to encourage purchases by offering appropriate policies to reduce future defections.

Customer Value Determination:

Evaluating Customer Lifetime Value can save cost by avoiding sizeable recourses dedicating to unprofitable customers. Firms can also benefit from allocating proper resources to manage the right customers.

Sales force:

Sales people use Sales force automation products to manage their accounts, their business opportunities and communicate with the home office to increase sales force productivity and improve customer service capabilities

Sales Activity Management:

The tools provide a uniform sales process catered to each firm’s goals and policies. Sales people are guided through the sales process. Another key function of the tools is to remind sales representatives with key customer activities, reach inactive customers, allow managers to assign tasks and generate to-do lists.

Sales Territory Management:

These tools enable visibility into every sales activity, track performance and manage sales territories.

Lead Management:

A lead management system allows sales personnel to follow prescribed sales steps in an effort to close deals with potential customers. Additional steps can be generated when necessary during the negotiation process to the success of the deal. Other features of the tools include enabling sales personnel to generate product configurations and quotes directly with remote devices; assigning leads to sales representatives based on the requirements of the leads and the capabilities of each salesperson.

Customer service level:

One of the primary goals for every firm is to provide good customer service. Call centers, Website self-service and customer satisfaction measurement have been used by many firms to assure high levels of service.

Call centers:

Call centers are not new to firms. A great number of organizations have been using call centers to manage customer relationships. With the help of advance technologies, many firms can now better customize the call center systems to improve customer service levels and improve call center effectiveness.

Website self-service:

Websites provide commonly requested information to visitors. Some websites allow customers to access their accounts and make inquiries or complaints. Some even offer online chatting services to reduce the workload of call centers.

Measuring customer satisfaction:

Personalize customer satisfaction surveys can be generated through CRM programs. By doing this, responses can be matched to the respondent’s profile to give companies information on how to improve their service to customers.

(B)

The Queue Characteristics:

In most cases, calls can be taken on a first-come-first-served basis; however, most-needy-first-served might be needed in scenarios like reporting a credit card lost. In some banks, most-important-first-served service might be offered to better serve VIP clients as well.

Service characteristics:

The most common model for modern call centers is multi-channel, single phase. ACD (Automatic Call Distribution) distributes.There might be situations when all agents are occupied that no calls can be taken. A busy or delay signal occurs. A virtual queuing system can be used as a way to improve customer service level. callers can request a callback at their preferred time.

Global service considerations

The success of a global virtual contact center requires:

• Infrastructure: A widespread telecom network between customers and contact centers to guarantee service quality.
• Partnerships with international telecom service providers to ensure proper call transportation
• Technical expertise in telecoms to overcome potential latency issues in a global scale • Knowledge about local regulations to ensure compliance with local constraints
• Expertise to conquer language barrier and cultural differences
• Solutions to comply with different time zones
• Centralized management and enhanced visibility: Proper training on products and companies’ culture and real-time supervisory to ensure a standard call quality.

Facilitating products:

In most cases, facilitating products for a call center are very common. Instead, the attention should be paid to proper training on products and services the bank offers. By doing so, customers’ needs can be completely addressed to increase first call resolution score.

Service quality expectations:

• First call resolution: customers’ needs are solved on their first calls. Welltrained employees and investment in knowledge base are the keys to improve first call resolution scores.
• Average time in queue: The total time customers need to wait before representatives answers the calls. Customers often link long waiting time to poor customer service. A company can reduce the average time in queue by appropriately staffing the call center.
• Service level: the percentage of calls responded within a certain number of seconds. Properly arranged work force might be the best and achievable solution for service level.
• Average handle time: the total time when a representative picks up a call until the call is disconnected. Well-trained agents will definitely help to reduce the handling time.