COURSE OVERVIEW
Organisations develop a CRM strategy and implement CRM solutions because they believe that a ‘satisfied’ customer is likely to be more profitable and easier to sell to. The objective is therefore to deliver the ‘R’ in CRM by developing profitable customer relationships that drive value for both the organisation and the customer.
This collective value proposition has the following components:
- Increase profit and sales
- Increase service levels and transparency
- Decrease costs through more effective targeting, improved value measurement and operational effectiveness
- Support and enhance corporate differentiation and brand values
Although the statements above are simplistic, they become specific and actionable when applied to a particular business environment. At a Retail Bank, the CRM strategy must be clearly articulated, offer consistency, and support the business goals of the organisation. All CRM related programmes and projects must support the strategy and offer measurable value or ROI.
Historically, many CRM projects have failed because they focus on technology alone and have not addressed one or more of the following:
- Staff competencies and compensation
- Organisational alignment
- Culture and receptiveness to change
- Alignment to a clear CRM strategy
- The distinction between ‘product’ and ‘customer’
- The importance of mutually reinforcing processes
- The need for a clear business case and measurable ROI
SUMMARY OF COURSE CONTENT
- Analyse and understand the role of CRM and its importance
- Evaluate different types of CRM
- Develop a clear client strategy
- Cover details of event driven marketing
- Provide detailed, factual and vendor independent research on the results obtained from different CRM approaches
- Define a CRM database and understand what is analytic CRM through practical workshops
- Evaluate various processes to optimise customer acquisition, manage customer relationship and maximise customer retention
- In-depth review of recent European CRM research covering 65 banks from 29 countries, providing detailed and actual results obtained using different CRM techniques
WHO SHOULD ATTEND?
- Marketing executives in retail banks, in particular:
– CRM
– Customer intelligence
– Database analysts
– Bank product managers
- Retail bankers expecting career progression into the marketing department
- Relationship managers
Supporting publications
DAY ONE
Customer Relationship Management (CRM)
- What is a ‘relationship’?
- Why banks want a relationship with their customers?
- Why customers want a relationship with their banks?
- The satisfaction / profit chain
Types of CRM
- Strategic CRM
- Analytic CRM
- Operational CRM
Planning a CRM project
- Develop the strategy
- Build the foundations
- Select a partner
- Implement a project
- Evaluate a project
DAY TWO
Technology
The CRM project
- Where is your banks today?
- Where do you want your bank to be?
- Getting there
- The structure and content of all the CRM Modules and areas
- Developing the CRM roadmap
CRM architecture
- The structure and content of all the CRM modules and areas
Data
- What data is needed?
- What data is available?
- Types of data
- Uses of data
- External data
Workshop: to define a CRM database
- Structure and content of a typical CRM database
Analytic CRM
- Functional areas of analytic CRM
- Analytics and reporting
- Segments
- Scores
- Models
- Events
DAY THREE
CRM Research
In-depth review of recent European CRM research from the European Financial Management and Marketing Association (EFMA), covering 65 banks from 29 countries. It provides detailed and actual results obtained from using different CRM techniques, allowing analysis of the value and effect of different CRM approaches.
- This information gives financial institutions clear and measurable figures to determine:
- What results they should and could be achieving
- Where they are compared to competition
- Which approaches work well and which work less well (and to what level)
- Indications of trends and next steps Attendees will receive full documentation of this research
Campaign management
- Campaigns, planning and the campaign process
- Types of campaigns
- Monitoring, planning, budgets
- Optimisation and contact management rules
Optimisation
- Business rules and optimisation
Operational CRM
- Contact management
- Feedback and response management
- Reporting
DAY FOUR
Processes
- The customer lifecycle
- Understanding value
- Stages in the lifecycle
- Value from products, services and people
- Customer acquisition
- Customer value
- Support from CRM analytics
- Making the right offer
- Customer retention
- Customer value
- Support from CRM analytics
- Making the right offer
- Marketing automation and sales force automation
Organisation
- Organisation and roles within CRM
People
- KPIs, management and objectives
- Training
Next steps
Workshop and presentations
- The plan and things to take away
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Mark Holtom
Mark has over 27 years in the computing industry with AT&T, ICL, NCR, Teradata and as a CRM consultant. His career spans development, technical and business consultancy, marketing and management
with extensive work experience and industry knowledge of Banking in both the UK domestic and International arenas. Mark is a Director of a business which has received three international awards for its
projects in delivering consultancy, mentoring and the implementation of Event Driven CRM solutions.
Mark is the chairman of the EFMA CRM conferences and also lectures on CRM and one-to-one marketing at Oxford University.
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
This course has now expired please email us to find out when the course will next be running.