CRM in a Down Market What you do next will determine your market share Vince Kellen Adjunct Faculty, DePaul CTI President, CRM Strategy, Blue Wolf September, 2002. http://www.bluewolf.com. Agenda. What is CRM? War stories Strategies for a down market. What is CRM?.
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CRM in a Down Market
What you do next will determine your market share
Adjunct Faculty, DePaul CTI
President, CRM Strategy, Blue Wolf
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What is CRM?
A business strategy that seeks to improve the company’s profit and revenue generating ability by better understanding its customers and delivering value to them.
A shift away from product-centrism towards customer-centrism.
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Business Value(Dependent Variables)
Customer Value(Independent Variables)
Value added services
Revenue / Profit Growth
Increased Share of Customer
Increased Customer Lifetime Value
Improved Customer Retention and Loyalty
Increased Operational Efficiency / Effectiveness
Reduced customer acquisition cost
Communication Channel Mix Efficiency
Maximized cross-channel / cross-product synergy
Product / Service Innovation
Customer insights, new product ideas
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Business Response Management
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Strategies For a Down Market
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Relationship marketing versus traditional acquisition based marketing
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Which is more important in a down market? An up market?
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This gives the “illusion” that CRM (especially incremental CRM) is good in a weak market. The reality is the seeds for CRM in a down market are sown in an up market. CRM is a universal strategy that works in both up and down markets.
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The same thing you would do in an up market!
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Sources: Gartner, Jill Dyche, CRM Daily, IntelligentCRM, Meta Group
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Would you “do” CRM any other way?
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Just ahead there is a big crash. Cars are careening everywhere. What do you do?
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The truth is out there!