Customer relationship management

Business benefits of CRM:

Implementing a customer relationship management (CRM) solution might involve considerable time and expense. However, there are many potential benefits.

A major benefit can be the development of better relations with your existing customers, which can lead to:

• increased sales through better timing by anticipating needs based on historic trends
• identifying needs more effectively by understanding specific customer requirements
• cross-selling of other products by highlighting and suggesting alternatives or enhancements
• identifying which of your customers are profitable and which are not
  
  
  This can lead to better marketing of your products or services by focusing on:
  
  
• effective targeted marketing communications aimed specifically at customer needs
• a more personal approach and the development of new or improved products and services in order to win more business in the future.
  
  
  Ultimately this could lead to:
  
  
• enhanced customer satisfaction and retention, ensuring that your good reputation in the marketplace continues to grow
• increased value from your existing customers and reduced costs associated with supporting and servicing them, increasing your overall efficiency and reducing total cost of sales
• improved profitability by focusing on the most profitable customers and dealing with the unprofitable in more cost effective ways
  
  
  Once your business starts to look after its existing customers effectively, efforts can be concentrated on finding new customers and expanding your market. The more you know about your customers, the easier it is to identify new prospects and increase your customer base.

  Even with years of accumulated knowledge, there's always room for improvement. Customer needs change over time, and technology can make it easier to find out more about customers and ensure that everyone in an organisation can exploit this information.

The Superbowl commercials

Known for high-profile advertisements that air during its television broadcast in the U.S. is the Super Bowl, the championship game of the National Football League. Reaching more than 90 million viewers, prices for advertising space can typically cost millions of dollars; 30 seconds of advertising time during the 2010 telecast is expected to cost US $2.6 Million dollars.

The high price tag of the commercials promise that they will be spectacular and innovative in most cases. The commercials are often highly anticipated, generating much buzz even before the game is played usually because of their innovation or sense of humor.

Here are the best super bowl commercials of 2011

Here is one for 2012!

An effective channel of advertising

                          

Photograph that you see here is of LCD screens in men’s toilet. Heard of this before but when experienced, must say, is a great way to advertise. Till the activity is done, one has nowhere to see but on the screen.

It is noticed not only because it is the only place where a man looks at when getting relieved! But also it is unusual and new for many. This new channel of advertisement will be effective till the time it gets usual, thereby making it popular for consumer goods.

Can you think of a creative way of advertising in Women’ toilet? I think, mirror can be a good option! Do share your views…

Kellogg's: focus on taste

Kellogg's to focus on taste, health benefits

Leading producers of ready-to-eat cereals, Kellogg's, which has re-launched its kids brand Chocos with essential nutrients, will concentrate more on taste in India besides health benefits as part of its global marketing strategy.

The company in the next 10 days will be launching a 360-degree marketing campaign including television, print, radio and on-ground activation such as setting up kiosks at malls and strategic locations, to re-position itself as a tasty breakfast option for children.

India is a different market altogether, where taste comes above health benefits. Kellogg's are now focusing on this aspect and are relaunching Chocos as a tastier and healthy cereal breakfast. They will also look at their other products moving ahead to improve the overall taste.

TATA: Into School education space

Tatas may venture into school education space

The Tata group is planning a major entry into the Indian educational space, sources said. E-learning-focused group company Tata Interactive Systems (TIS) may soon unveil a strategy for setting up preschools across the country. Though the initial plan is to set up preschools, the long-term vision of the group is to have K12 schools (catering to students from standards one to twelve) in Tier 1 cities.

It is learnt that TIS may unveil its mega plan within the next two weeks. The group may invest close to Rs 1,000 crore in what will be its first major commercial venture in the education space. Most Tata companies look at education from a corporate social responsibility point of view.

Education in India is mainly provided by the public sector, with control and funding coming from three levels — Central, State and local. It is only recently that corporate biggies such as Zee, the Yash Birla Group and HDFC have publicly evinced interest in this burgeoning space. Effectively, the unlisted TIS is taking the cue from rival e-learning firms such as Educomp, Everonn and Core Projects & Technologies which have charted a similar diversification strategy.

TIS' solutions have been deployed at more than 60 ‘Fortune 500' companies, leading educational institutions and government departments across India, the Middle East, the US and other countries, says the company Web site.

Pie, large enough?

Industry sources feel that the Tata's move will help organise India's fragmented education market. But, then, is the pie large enough for so many players?

In India, 90 million children go to school every year and there are 7.5 million new enrolments annually. Given that each preschool can accommodate maximum 200 students, around 30,000 preschools are required to meet the demand.

According to estimates, the Government invests three per cent of its GDP on education while consumers spend more than $40 billion on private educational institutions and services.