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CRM Definitions:

CRM Definitions:. CRM is the aggregation of: Customer-centric Strategies Which drive new functional activity not only for sales, marketing and service, but often back office functions such as accounting, production, and shipping. Which demand reengineered work processes for everyone affected.

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CRM Definitions:

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  1. CRM Definitions: CRM is the aggregation of: • Customer-centric Strategies • Which drive new functional activity not only for sales, marketing and service, but often back office functions such as accounting, production, and shipping. • Which demand reengineered work processes for everyone affected. • Which require technology support to implement.

  2. CRM Definitions-(cont.) • Carlson Marketing Group defines CRM as “a business strategy which pro-actively builds a bias or preference for an organization with its individual employees, channels and customers resulting in increased retention and increased performance.”

  3. Database Marketing vs. CRM • DBM is company-centric,: the whole purpose of targeting customer segments was to help the sell more stuff for less cost. • CRM is customer-centric: still concerned with profit but achieves profit by concentrating on customer benefits and values…strengthening the relationship.

  4. CRM Tasks: • Identifying those customer values that are pertinent to a particular business. • Understanding the relative importance of those values to each customer segment. • Determining if delivery of those values will affect the bottom line positively.

  5. CRM Tasks (cont.): • Communicating and delivering the appropriate values to each customer segment in ways the customer wants to receive the information. • Measuring results and proving return on investment.

  6. Added Value Thoughts • “Customers don’t want to be treated equally. They want to be treated individually.” – Peppers & Rogers • Success or Failure of Loyalty Programs? • PetsMart Loyalty Program vs. CRM • CRM and building loyalty is a long-term process.

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