Customer Relationship Management IS 6800 Oral Group Presentation

Customer Relationship Management IS 6800 Oral Group Presentation Karen Craig Anthony Cronin Christine Murphy 1

What is CRM? l “Any application or initiative designed to help an organization optimize interactions with customers, suppliers, or prospects via one or more touch points – such as a call center, salesperson, distributor, store, branch office, Web, or e-mail – for the purpose of acquiring, retaining, or cross-selling customers. ” Ability to leverage customer data creatively, effectively, and efficiently to design and implement customerfocused strategies Existed for approximately 10 years (Ref. 1) l (Ref. 2) l 2 (Ref. 2)

What is CRM? l l l 3 Primarily based on marketing and analysis of consumer behavior Creating personalized, one-to-one products or services for customers Goal is to achieve increased customer satisfaction and loyalty along with increased revenue Gives companies the ability to “more effectively select, attract, retain, and even grow customers. ” 72% of 451 senior executives surveyed said they plan to have CRM programs in place by the end of the year (Ref. 3, 4, 5)

What is CRM? 4 (Ref. 6)

CRM Technologies l l l 5 Databases Personalization Engines Targeted Marketing Response Function Analysis Online Preference Surveys Programs to track customer behavior (Ref. 7, 8)

Components of CRM l l l 6 Applications – do the work Infrastructure – mode to share the data across applications Transformation – organizational change to reap the benefits (Ref. 1)

Cost of CRM l l l 7 2001 spending = $9. 4 billion 2005 estimate = $30. 6 billion Large businesses spend $30 m-$90 m over a three year period (Ref. 9)

Hidden Costs l 40 -75% of project costs are often underestimated – – 8 Training Maintaining Data Software Integration Project Management (Ref. 9)

Success Rates l l 9 12% of all CRM projects do not ever go live Only 16% of CRM projects actually improved business performance in a measurable way CRM projects risk the highest rates of failure for companies (32% -55% after one year) Only 21% improved customer satisfaction (Ref. 10, 11, 12)

CRM Leaders 10

CRM Leaders l Company – – – l Strategy/Mission – l – 11 Add functionality by acquiring, merging, or signing strategic deals Products – l Market leaders $93. 4 billion in revenue in 2002 4500 employees in 28 countries Primary targets are Global 2000 Repositioning themselves as an e-business company Siebel Analytics, Universal Application Network, Mid. Market, ERM, Siebel UCM Most expensive in industry Future – Wireless (Ref. 13)

CRM Leaders l Company – – – l Strategy/Mission – l my. SAP Business Suite, SAP x. Apps, SAP Netweaver Future – 12 Pioneer and leader in the creation of delivery valued solutions for strategic business processes that enables the customers’ realization of their business goals and objectives Products – l 28, 000 employees in 50 countries; headquartered in Germany Provides collaborative business solutions for all types of industries in every major market 2002 revenues = $8. 7 billion e. Learning, Smart Items, Advanced Customer Interfaces, Security, Interactive Application and Technology (Ref. 14)

CRM Leaders l Company – – – l Strategy/Mission – – l People. Soft & People. Soft CRM Future – 13 Best-of-breed solution for any given business process Focus on back- and front-office and real-time interactions between all parts of business Products – l Acquired J. D. Edwards in July 2003 13, 000 employees $2. 8 billion annual revenue 2002 Wireless & analytic (Ref. 13)

CRM Leaders l Company – – – l Strategy/Mission – l Unique in that it is completely web-based Primarily works in government, financial issues, healthcare and hightech markets $69 million in revenue in 2002 Help their customers win in the internet economy; highest customer service satisfaction rating in the industry Products – Onyx Enterprise CRM l l Future – 14 Onyx Employee Portal Onyx Partner Portal Onyx Customer Portal Expand wireless and international markets (Ref. 13, 15)

CRM Leaders l Company – – – l Strategy/Mission – l 15 Provide billing, customer care, and transaction management software and services that add value to our clients’ customer and employee relationships Products – l 44, 000 employees $2. 3 billion in revenue in 2002 Serves companies in communications, financial services, and technology industries Infinys, Atlys, ICOMS, WIZARD, customer care, contact centers, employee care Future – Wireless (Ref. 16)

Retaining Current Customers l 16 Why retain vs. acquire? – Web-specific: customer acquisition in terms of dollars is 1. 5 – 2. 5 times the value of an average sale – 5 -15 times more costly to acquire new customers than to retain current ones – “Marketing to current customers delivers an ROI that is 10 -50 times greater than with prospect campaigns” (Ref. 13, 17)

Retaining Current Customers l l Acquiring new customers is typically the goal of CRM providers 43% of all CRM retail financial services marketing departments primary focus was new customer acquisition; 9% focused on customer retention Average cost to find a new customer = $280, average cost to keep one = $58 New license revenue is down 24. 7% in 2002 from 2001 – 17 This is a global phenomenon (Ref. 18)

Retaining Current Customers l It is Better to Retain because: – – – 18 Lifetime duration of a customer and profitability show a positive relationship Costs of serving customers decrease over time Long-life customers pay higher prices (Ref. 19)

Case Study 19

History: l l 20 First store opened in 1929 in London and grew to over 100 stores by the end of the 1930 s Tesco was reformatted in 1947 based off of the American-style supermarket (pile it high and sell it cheap) Original emphasis was on self-service with suppliers receiving Tesco’s attention 1990 s copycat merchandising resulting in loss of satisfaction of Tesco’s customers - “Doing a Tesco” (Ref. 20)

Recovery: l l 21 Recovery Strategy – Stop copycat merchandise strategy – Institutionalize listening to customers – Build merchandising offers based on Tesco customers Bricks in the Wall - no sweeping innovations, just patient responses to customer needs (Ref. 20)

Domestic Locations 22 (Ref. 21)

International Locations 23 (Ref. 21)

Financials 24 (Ref. 21)

Profit and Sales 25 (Ref. 21)

Organization l Board – – l Key Governing Structures – – – 26 8 Executive Directors 6 Independent Non-Executive Directors Executive Committee - day-to-day business management controls Nominations Committee - 3 year rotational reassignment and re-election duties associated with executive directors Remunerations Committee -determination of executive directors’ salaries, bonuses and share options Audit Committee - monitoring the systems of internal control Compliance Committee - ensures compliance with laws and regulations (Ref. 21)

IT Organization l l l 200 internal systems Links to hundreds of suppliers Communications across 700 sites Over 700 IT employees More than 5, 000 office-based IT users to support IT areas: – – – l 27 Technology and Architecture Strategic Development Service Delivery Outsource selectively to multiple suppliers (Ref. 22)

IT l l ~$334 million a year spent on IT To minimize IT costs, Tesco has: (Ref. 23) – – l Non-technical executives Centralized software developments at a single site and delivered to stores by Tesco’s private data networks(Ref. 23) Maintained a close relationship with customers Established “international competence centers” for technology development (Ref. 23) Unix-based system was not flexible enough to handle rapid creation of new applications 2001, Tesco board decided to develop a new architecture for building and hosting web-based software (Ref. 24) l (Ref. 24) 28

Web-Enabled Infrastructure l l l Back-end hosting architecture as central platform for all Tesco applications to plug into Web enabled application infrastructure Allowed Tesco to bring new tools to the market faster Planning in 2001 – development was outsourced and began in 2002 Microsoft. net based development environment – – – 29 Front end – Microsoft Internet Information Server Development environment – Microsoft. net’s framework Back-end database – Microsoft SQL Server (Ref. 24)

Web-Enabled Results l l l 30 Flexible, scalable web-based environment for building and hosting new applications Enables greater capacity to rapidly adjust to business change Enables Tesco to develop new products in-house or buy off-the-shelf software Cut Tesco’s time to market significantly Project completed on time and on budget (no budget figures available) (Ref. 24)

Notable IT Ventures l Dunnhumby – – l Database marketing company who masterminded the Clubcard Tesco purchased 53% of Dunnhumby in 2001 IT Support Center – – 31 (Ref. 25) Plans to create an offshore IT support center in India Include transfer of 350 jobs to India

Grocery Products l Tesco Express – – 32 Convenience store usually found at gas stations Aimed at local customers to “top up”

Grocery Products l Tesco Extra – 33 Specializes in non-food items only

Grocery Products l Tesco Superstore – – 34 Food and non-food products Comparable to Super. Walmart

Grocery Products l Tesco Metro – – 35 Urban convenience store (ready made meals) Dedicated to retailers that want a small store environment

Grocery Products l Tesco Direct – – 36 Online shopping Home delivery service

Other Products l l Financial Services (venture with RB of Scotland) Tesco telecommunications – – – l 37 Tesco Talk Tesco Mobile Tesco. net Tesco online travel service (Ref. 20)

Customer Base l l 38 Value Line Groceries – low-price/no frills aimed at the lower economy Tesco Finest – high end products for the upmarket customers Tesco Metro – aimed at office workers More than 14 million customers in loyalty program (Ref. 20)

CRM Strategy l l l 39 Balance the business in favor of the customer Maintain customer loyalty DATA, DATA Qualitative research to understand customers Develop specialty programs that meet customers’ interests Know which markets and marketing strategies are the most profitable Ref. 26

CRM Initiatives l Grocery Related – – – l 40 Loyalty Card Tesco Direct Company Service Desk Mobile Shopper POS Till Financial Services

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l Use of Clubcard enables Tesco to maintain a database on customers: – – l Demographic data Lifestyle data Total dollars spent on food items Customer response to promotions (Ref. 27) Developed customer “needs segments with each segment receiving personalized coupons (Ref. 27) – l Resulting in 90% redemption of promotional coupons ( Ref. 28, 29) Creation of up to 150, 000 variations of promotion and reward statements each quarter Clubcard magazine sent to members designed and produced to fit their life with 80, 000 variations (Ref. 27, 29) l (Ref. 28) 43

l l 44 Offers points on purchases for customers Gives small rebates to loyal customers Customizes coupon offers to customers 85% of revenue and 62% of sales through Clubcard (Ref. 26)

Direct 45

Direct l l Originally launched through phone and fax Relauched for web - Microsoft developed website – – l 46 Reduced flexibility of delivery window improved the order-picking process Special software developed to manage the picking operation, including routing and substitution (Ref. 20)

Direct l $56 million investment to implement online business nationwide Tesco. com became a wholly owned subsidiary of Tesco plc in 1998 As of 2002: (Ref. 30) l (Ref. 20) – – – l l Covered 95% of UK Filled 100, 000 orders per week Worth 2% of Tesco’s total sales (nearly £ 10 M) Remembers previous shopping lists Online orders are 2 -3% more profitable than in-store (Ref. 20) (Ref. 31) l Total profit margin between 10 -12% after operational costs (Ref. 31) 47

Direct - How it works l l l 48 Register online Place orders online - remembers previous shopping lists Pickers use specially designed shopping carts with a touch screen to provide a set shopping path to fill orders Select 2 -hour delivery window Small delivery fee

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Direct Benefits l Raised the odds that all products ordered would be available Each store’s server could save a history of each customer’s favorite product Stores could fine-tune wholesale orders Allowed Tesco to maintain regional variations in pricing, boosting its overall profits Results in an annual $7 M in profit (Ref. 31) l l (Ref. 31) l 52 (Ref. 32)

Financial Services l l l 53 Joint venture with Royal Bank of Scotland Includes loans, insurance, credit cards, mortgages Using information from loyalty card profiles are produced of customers Results in Tesco acquiring financial services for less than half what it costs a bank Clubcard vouchers can be used to buy motor insurance

Personal Finance Success l l 54 Profit of £ 96 M in 5 years Over 1. 4 million new accounts opened 3. 4 million customers One of the UK’s top 10 providers for credit cards and motor insurance

. net l l Part of Tesco’s expansion into retail Free ISP Ranked as the forth largest ISP in Britain Enabled users to access internet to order goods from Tesco. com (Ref. 30) 55

Customer Service Desk l l l 56 New web-based application Till-based application for customer service issues Electronically records dissatisfaction Eliminates previous inefficient paper system Improves process for both customers and store staff (Ref. 24)

Mobile Shopper l l 57 Microsoft® Windows® Powered Pocket PC 2002 based Allows Tesco customers to log on and place orders from anywhere Orders will be ready for pickup or delivery Allows Tesco. com to keep customers up-to-date with product information and services (Ref. 33)

POS Tills l l Replaced 16 -bit applications for MS-DOS Based off of Windows NT® Embedded solutions Better service for customers Give customer “single experience” shopping – – – l 58 Access to product and promotional information Access from supermarket, gas station, e-store Allows employees to automatically receive messages regarding pending tasks, schedule changes, product information and break times Overall lower costs for Tesco (Ref. 34)

Benefits of CRM l CRM enables Tesco to: – – – 59 Build mutual relationship with customers – providing rewards in exchange for information Find new customers more easily Increase sales per customer Save on the cost of promotions by promoting to loyal customers as opposed to cherry pickers Keep prices down on familiar/staple pricelines Hold customer evenings to gather more information, bring in new customers through referrals and improve their relationship (Ref. 35)

Lessons Learned l l l 60 When in doubt, balance the business in the customer’s favor Get executives personally involved in customer service Deliver a branded customer experience, regardless of channel Use low prices selectively, not as the primary value proposition Make customers partners in data collection activities Mine loyalty program data for customer insight, then act (Ref. 26)

CRM Best Practices 61

CRM Best Practices l Gartner’s Eight Building Blocks of CRM 1. 2. 3. 4. 5. 6. 7. 8. 62 CRM Vision CRM Strategy Valued Customer Experience Organizational Collaboration CRM Processes CRM Information CRM Technology CRM Metrics (Ref. 36, 37, 38)

1. CRM Vision l The CRM Vision should be: – – l The Vision should describe what the customer-centric enterprise should look like and provide a clear idea of: – – 63 Created in the boardroom Lead by a CEO who provides inspirational leadership and created vision Well-known and widely accepted by company and customers Owned by the CEO The Company’s value proposition The desired customers The benefits of CRM to enterprise strategy The customer’s experience when dealing with the company (Ref. 36, 37, 38)

Vision l l CRM initiatives are managed by non-technical executives l The CRM Vision is the backbone of Tesco l 64 CEO and Board responsible for CRM initiatives The CRM Vision is accredited with obtaining over 14 million new customers

2. CRM Strategy l CRM Strategy is created by: – – – 65 Auditing customers’ value, loyalty and satisfaction Segmenting customers in focal groups Setting customer objectives, acquisitions, retention and development Defining metrics for monitoring the execution of strategy, satisfaction, loyalty and cost to serve Outlining the strategy for the customization by-product segment, pricing, communication and contact, channel, customer service and segment management Specifying the customer infrastructure required to direct the other operational strategies (Ref. 36, 37, 38)

Strategy l l l 66 Perform qualitative research to understand their customers Balance the business in favor of the customer Learn which markets and marketing strategies are the most profitable while maintaining customer loyalty Develop specialty-customer centered-programs Collect and analyze :

3. Valued Customer Experience l l Ensure Customer’s view point is heard at the highest point Appoint Chief CRM Officer: – – – 67 Ensures process developed for customer research and collaboration Informs customers about developments Monitors customer satisfaction levels (Ref. 36, 37, 38)

Customer Experience l Tesco Week in Store Together l All corporate managers spend 1 week a year in a store: – Performing standard store activities e. g. , : l l l 68 Stocking Shelves Working the Till Bagging Groceries Getting One-On-One with Customers Allows managers to stay in touch with customers’ needs

4. Organizational Collaboration l Implementing CRM Normally Results in Changing: – – Internal processes Organizational structures Compensation incentives Employees’ skills and behaviors l l 69 Top management must drive changes through a formal program that integrates changes gradually May take years to achieve changes from CRM (Ref. 36, 37, 38)

Collaboration l l 70 Executive management made the decision to launch Microsoft. net technology Microsoft. net was integrated into all aspects of the Tesco corporation

5. CRM Processes l Fresh approach to business processes – – – l l 71 Rethink appearance to customer Re-engineer to be customer-centric Deliver greater customer value View and manage customer relationship in terms of the customer life cycle Formalize a process to manage the customer life cycle Establish process for creating and leveraging customer insight Manage and leverage enterprise’s intellectual assets (Ref. 36, 37, 38)

CRM Processes l Tesco processes that affect customers – – – l 72 Customer Service Desk Mobile Shopper POS Till Customer service desk and customer evenings allow for customer input

6. CRM Information l l l Customer information is corner stone of CRM Timely acquisition and processing of customer data throughout the enterprise is critical Customer data should be – – – l 73 l Stored Analyzed Distributed as quickly as possible The application of customer information and the consideration of customer data must be used to support and analysis the company’s operational processes Effective communication across enterprise (Ref. 36, 37, 38)

CRM Information l Tesco’s information strategy is centered around: – – l Information from the Clubcard is used to: – – – l – – 74 Successfully and economically market products Determine success of promotions Fine tune wholesale orders Information from internet is used to: – l Clubcard Tesco. net Make marketing decisions Set product pricing Manage warehouse stock and supply Information available to all aspects of the corporation

7. CRM Technology l l Essential to a corporation that wants to successfully integrate across corporate channels and business units It requires: – – – l Consistency between: – – – 75 Architectural approach Policies and standards for sourcing applications Performance Security Availability standards Interoperation processes Underlying hardware Software Networking and telephony infrastructure (Ref. 36, 37, 38)

CRM Technology 76

8. CRM Metrics l l l Enterprises must set measurable, specific CRM objectives and monitor indicators Metrics gage level of success and provide feedback Challenges in developing metrics: – – 77 Understanding the linkage points between the levels Avoiding over-complex and over-simplified internal and external measures of CRM success and failure (Ref. 36, 37, 38)

Metrics l Examples of Tesco metrics – – – l Finance – – – 78 90% redemption of promotional coupons 85% of revenue through Clubcard 62% of sales through Clubcard Profit of £ 96 M in 5 years Over 1. 4 million new accounts opened 3. 4 million customers

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