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CRM: WEEK 4 (1/30 – 2/3)

CRM: WEEK 4 (1/30 – 2/3). Last Week Highlights: Define and Leverage Relationship Learning Building Trust Based Relationships IDIC Model Identify Differentiate Interact Customize Life Time Value of A Customer (LTV) Identifying most valuable customers

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CRM: WEEK 4 (1/30 – 2/3)

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  1. CRM: WEEK 4 (1/30 – 2/3) • Last Week Highlights: • Define and Leverage Relationship Learning • Building Trust Based Relationships • IDIC Model • Identify • Differentiate • Interact • Customize • Life Time Value of A Customer (LTV) • Identifying most valuable customers • RFM – recency, frequentcy, monetary • Operational vs. Analytical CRM definition • Marketing Automation

  2. CRM: WEEK 4 (1/30 – 2/3) • Monday (1/30) Objectives: • Review Identification Activities • Data Needed • Differentiating Customers • Based on Value • Future Oriented • Convergys Case • Managing Mix of Customers

  3. CRM: WEEK 4 (1/30 – 2/3) • Monday (1/30) Objectives: • Review Identification Activities • Customer data already collected • Get customers to identify themselves • BTB vs. BTC • Data Needed • Behavioral – matched with promo events • Attitudinal - AIO • Demographic – life stages

  4. CRM: WEEK 4 (1/30 – 2/3) • Monday (1/30) Objectives: • Differentiating Customers • Based on Value – current vs. potential • Future Oriented – LTV • Convergys Case – life stages • Managing Mix of Customers

  5. CRM: WEEK 4 (1/30 – 2/3) • Wednesday (2/1) Objectives: • Differentiating Customers Based on Needs • Leveraging Needs Differentiation to Build Customer Value • Case Analysis Process • Read Three Times • Case Brief Components

  6. CRM: WEEK 4 (1/30 – 2/3) • Wednesday (2/1) Objectives: • Differentiating Customers Based on Needs • Needs segmentation versus demographic • VALS • Leveraging Needs Differentiation to Build Customer Value • Customer portfolio: similar needs (demographic profile) • Monitor behavior relative to needs • Best Face Foreward

  7. CRM: WEEK 4 (1/30 – 2/3) • Case Analysis Process • Read Three Times • First: Quick read to determine key issues in case and gain overall understanding of contest: sketch out problems/issues facing management • Second: Detailed read to find relevant information to problems/issues and begin contemplating recommendations: revise problems/issues as needed, jot down relevant background, alternatives and final recommendation • Third: Quick read to determine the “fit” of your recommendations • Case Brief Components: (see handout)

  8. CRM: WEEK 4 (1/30 – 2/3) • Friday (2/3) Objectives: • NO CLASS FRIDAY (2/3)

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