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Customer

20. Customer. Relationship Management (CRM). Prepared by Deborah Baker Texas Christian University. Learning Objectives. 1. Define customer relationship management Explain how to establish customer relationships within the organization

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Customer

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  1. 20 Customer RelationshipManagement (CRM) Prepared by Deborah Baker Texas Christian University

  2. Learning Objectives • 1. Define customer relationship management • Explain how to establish customer relationships within the organization • Understand interactions with the current customer base • Outline the process of capturing customer data

  3. Learning Objectives (continued) 5. Describe the use of technology to store and integrate customer data 6. Describe how to identify the best customers 7. Explain the process of leveraging customer information throughout the organization

  4. Identify customer relationships Leverage customerinformation Understand interactions with current customer base Identify best customers Capture customer data based on interactions Store and integratecustomer data using IT Customer Relationship Management Cycle 1

  5. Experiential observations CollectedInformation Includes: Comments Customer actions Qualitative facts Knowledge Management 2

  6. Current transaction Customer Channel Past Relationship Requested Service Customer-Centric Approach forManaging Customer Interactions 3

  7. Customer registrationfor a service Completion of warranty card Communication withcustomer service Customer discussions withsales, delivery, and installers Touch Points in a CRM System 3

  8. Web-BasedInteraction Point-of-SaleInteractions Interactions for Customer-Centric Organizations Transaction-Based Interactions Online http://www.kroger.com 3

  9. Store visits Conversations with salespeople Interactions via the Web Traditional phone conversations Wireless communications Channels for Acquiring Data Online http://www.geico.com 4

  10. Response list Compiled list :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Database \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ /////////////////////////////////////////////////////////// ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Data Warehouse Store and Integrate Customer Data 5

  11. Data Mining • Identify and profile the best customers • Calculate their lifetime value • Predict purchasing behavior 6

  12. Customer segmentation Recency-frequency monetary analysis Lifetime value analysis Predictive modeling Data Analysis 6

  13. Lifetime Value Analysis PredictiveModeling Data Manipulation Techniques 6

  14. Leveraging Customer Information Data mining leverages identifies the most profitable customers Marketing strategies are designed to penetrate these segments Online http://www.usairways.com 7

  15. Developing customized offerings for appropriate segment Pricing these offeringsattractively Communicating offerings in a waythat enhances customer relationships Campaign Management 7

  16. Increase effectivenessof distribution channel marketing RFID technology Database Distribution Applications Online http://www.pg.com http://www.kidsdadsmoms.com 7

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