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The Role of Multichannel Integration in CRM

The Role of Multichannel Integration in CRM. Adrian Payne and Pennie Frow Industrial Marketing Management, 33 (2004), 527-538.

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The Role of Multichannel Integration in CRM

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  1. The Role of Multichannel Integration in CRM Adrian Payne and Pennie Frow Industrial Marketing Management, 33 (2004), 527-538

  2. CRM is a management approach that seeks to create, develop, and enhance relationships with targeted customers to maximize customer value, corporate profitability and shareholder value. • CRM is oftern associated with utilizing information technology to implement relationship marketing strategies.

  3. 5 key cross-functional CRM processes • Strategy development • Value creation process • Multi-channel integration process • Information management process • Performance assessment

  4. Channel options • Sales force • Outlets • Telephony • Direct marketing • E-commerce • M-commerce

  5. CRM Channel Strategies • Mono-channel provider (First Direct Bank) • Customer segment channel (Zurich Financial Services) • Graduate account management (B2B companies case) • Channel migrator (EasyJet) • Activity-based channel (Dell) • Integrated multichannel:seek to capture all customer information across all channels and integrate it within a single data repository.

  6. Strategic CRM • The channels need to be considered in the context of the whole interaction over the life cycle (pre-sale, sale, post-sale) of the customer relationship (not just in terms of the sales activity). • 3 stages of customer relationship: acquisition, consolidation, enhancement. • Short product lifecycle -> offer stream of products tailored to most valuable customers

  7. Customer Experience (CE) • High quality experience vs. emotional goodwill vs. loyalty • Channel experience needs to be considered: • Typical and perfect CE within channel • Typical and perfect CE across channel • How to sustain and improve the cusomer experience within channel, across channel, and substitute an existing channel for better ones

  8. Technology in improving CE • Caller line identification (CLI) • Rule-based systems • Interactive voice response (IVR) • Computer-telophony integration (CTI)

  9. Develop a Multi-channel Strategy • Clear Objectives • Improve the CE • Increase account coverage • Improve revenue growth • Decrease operating expenses • Utilize full skills and resources of our business and employees • Understand customer and channel touchpoints • Review of industry structure and channel options • Channel usage patterns • Channel economics • Integrated channel management strategy

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