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What is CRM?

CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customers’ needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively.

Definition: Bottom Line refers to the bottom line of an Income Statement. The bottom line shows the Net Income Available To Shareholders. When a company talks about increasing the bottom line, they mean doing things to either increase the revenue or decrease expenses so the company's income increases.

What is the goal of CRM?The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. With an effective CRM strategy, a business can increase revenues by: providing services and products that are exactly what your customers want offering better customer service cross selling products more effectively helping sales staff close deals faster retaining existing customers and discovering new ones.

How does it happen? It doesn't happen by simply buying software and installing it. For CRM to be truly effective, an organization must first understand who its customers are and what their value is over a lifetime. The company must then determine what the needs of its customers are and how best to meet those needs. For example, many financial institutions keep track of customers' life stages in order to market appropriate banking products like mortgages or IRAs to them at the right time to fit their needs. Next, the organization must look into all of the different ways information about customers comes into a business, where and how this data is stored and how it is currently used. One company, for instance, may interact with customers in a myriad of different ways including mail campaigns, Web sites, brick-and-mortar stores, call centers, mobile sales force staff and marketing and advertising efforts. CRM systems link up each of these points. This collected data flows between operational systems (like sales and inventory systems) and analytical systems that can help sort through these records for patterns. Company analysts can then comb through the data to obtain a holistic view of each customer and pinpoint areas where better services are needed. For example, if someone has a mortgage, a business loan, an IRA and a large commercial checking account with one bank, it behooves the bank to treat this person well each time it has any contact with him or her.

Siebel CRM

Siebel Marketing

So why do people invest in these customer facing solutions? In the marketing department, the chief marketing officer is interested in:

Increasing campaign response rates.
How do you decrease the cost of lead generation and
how do you do what we call ROI-based marketing?
Which is understanding the return on each and every marketing program?

Let’s review how the Siebel Enterprise Marketing Suite helps drive the customer-centric enterprise and make marketing more strategic to the enterprise.

Starts with enterprise customer insight for everyone in the organization, not just the few privileged in marketing. Armed with this insight, It requires companies to set goals and developed informed plans and allocate resources aligned with the enterprises strategic priorities. It requires collaborative demand creation, synchronized across all channels, and capable of supporting inbound, outbound and triggered communications. For many companies, market success involves designing and executing high value, cost effective and differentiated loyalty programs that retain valued customers longer and increase the value of the relationship.
The customer centric enterprise understands that you need to be able to efficiently capture opportunities, route them to the most appropriate resource and close the order. Finally, customer centric enterprise must be agile and be able to respond in real time to opportunities and problems, and use that insight to continually refine their strategies and tactics and improve effectiveness over time.
Siebel Marketing provides support for planning and budgeting across the marketing organization. Using marketing plans, marketing executives and managers can create high-level business plans that cover a broad set of tactics, including outbound and inbound programs, campaigns, and events. For each plan, the marketing executive or team can set goals and objectives, identify available funds, assign budgets, associate multichannel marketing tactics, share documents, and generate forecasts.
The Marketing Planning module can be applied to fit any organizational planning approach, including plans based on time periods (such as quarterly or annual planning cycles), business units, product lines, or any other management structure. Plans can be organized in hierarchies with any number of levels to support small marketing organizations as well as more complex planning processes.
Executives can also set high-level corporate objectives and then assign goals to each business unit that is participating in the plan. Each business unit can then create its marketing plan to meet its own assigned goals, forecast the organization’s ability to achieve the assigned goals, and submit the plan for approval. Based on common goals and performance metrics, marketing organizations can develop their own set of key performance metrics and institute the use of those metrics across their marketing plans.

Siebel Sales

In the sales department, if you talk to the VP of sales, they’re interested in things like

Increasing revenue per sales rep, or
Increasing their close rates, or
Increasing the average order size and
Up-selling and cross-selling.

Given these new imperatives, core sales force automation capabilities must leverage embedded process, methodology, and analytics. To maximize flexibility, sales organizations must be able to deploy this solution on premise, hosted, or in any combination.
At Siebel, our industry leading SFA solutions have been developed and refined over a 10 year period. We provide solutions across 18 industries, supporting over 20 languages, enabling field sales, telesales, web, and partners. Siebel is the market leading provider of sales methodology and which we embed directly within our SFA technology. Siebel is also the industry leading provider of pre-built analytic applications that provide actionable insight into not only CRM information, but across all sources of business data across the enterprise. And finally, Siebel provides greater deployment flexibility than any other vendor in the marketplace through our Enterprise, OnDemand, and Hybrid deployment options.
It is this combination of capabilities that ultimately maximize effectiveness, end user adoption, and business value. Life cycle of revenue generation from creation to closing: the Opportunities screen allows you to manage and track information associated with a potential revenue-generating event.
Gather customer requirements,
Review information about the customer,
Assemble a sales team,
Review and update information about competitors,
Track activities, track private notes and team notes, create quotes, and
Automatically generate presentations and proposals.

Account Management—provides a comprehensive, 360 degree view of your customer, including service history, order management, interactions, and account profile

Opportunity Management—including management of leads, territories, opportunities, contacts, and all account activities

Sales Methodologies — Standardize on common best practices to ensure consistent sales performance and sales coaching throughout the sales cycle

Sales Forecasting — including real-time insight into sales and employee performance

Order Management — allows you to create quotes, proposals, and product configuration

Partner Relationship Management Agents, Brokers

Siebel Service and Support

In the service department, we see heads of customer care interested in increasing customer retention, decreasing customer response times, and providing better service at a significantly lower cost.So the benefits of becoming customer-driven are quite real.
Market demands to be Customer-Focused and “Exceeding customer expectations is a key ingredient in keeping customers and also is the best way to ensure future competitiveness.” – Call Center Director of Ford Motor Company.
To help you achieve this goal Siebel presents Customer Contact center.The application empower you to provide quick response to customer needs and is same time be able to gather powerful customer information.
Siebel Contact Center and Service applications enable you to treat every interaction as an opportunity to sell to, serve, and delight customers. It offers unmatched capabilities that help deliver a seamless customer experience across all channels and throughout the entire service process—from initial phone call to on-site service delivery. Siebel Contact Center and Service delivers unprecedented flexibility—from deployment options that include on-premise, on-demand, and hybrid solutions to tools that enable rapid adaptation to changing customer and business needs.With Siebel Contact Center and Service applications, you can meet and exceed customer expectations with rapid, high quality service delivered by Web self-service, the contact center, field engineers, and partners. We help you to bridge silos of information for a single view of the customer—so that you can offer the right information, services, and products to the right customer, at the right price, at the right time.
63% of companies use customer satisfaction metrics to measure return on investment (ROI). Siebel CRM provide you with ability for detailed tracking of Customer Satisfaction Survey and this way empowering your customers to shape the service experience. Analyze the results to improve products, service and each interaction. Build customer loyalty by embedding the survey process into your strategy and CRM system
You can find entities as internal help desk management components, large number of predefined workflow and task flow process that can help you with customers support organization, complete life cycle solution for service support management, service level agreement eligibility, Case Management and etc. Just for example with Case Management tool you can gather specific requirement for different type of cases any way many of the underlying case management processes are very similar. As case registration, owner assignment, support documentation and other details need to be added to the case, activity plan or step by step instruction, automatic population of PDF forms, such as immigration and visa applications with case data, sharing case information with authorized parties, maintenance time and etc.