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Agenda

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Agenda

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  1. An Integrated IMC Data FrameworkDMEF Direct/Interactive Marketing Research Summit: October 13-14, 2012Las Vegas, NVJames Peltier Professor of MarketingUniversity of Wisconsin, WhitewaterMarketing DepartmentCollege of Business and Economics Debra ZahayAssociate Professor of Interactive MarketingMarketing DepartmentNorthern Illinois UniversityAnjala S. KrishenAssistant ProfessorDepartment of Marketing, Lee Business SchoolUniversity of Nevada, Las Vegas

  2. Agenda • Background/Motivation • Prior Work • Hypotheses • Method • Results • Implications

  3. Managerial View of the Learning Organization Competitive Advantage Learning Activities 4. Interpret 3. Disseminate 2. Remember 1. Generate

  4. Zahay, Peltier and Krishen (2012) Examined a Hierarchical Framework for IMC Data CRM Data Quality

  5. Relationships Supported in General, Transactional, Contact Data More Important in Relation to Customer Data Quality, Touchpoint Data Less So CRM Data Quality Offers and Communications Customer Info and Collection Points

  6. The Strategic CRM Context (Payne and Frow 2005)

  7. Multi-Stage Research Method & Analysis • Qualitative Study • Pre-Test • Final Survey • Exploratory Factor analysis, correlation analysis, Coefficient Alphas, CFA • SEM to determine relationship between use of customer data types and CRM Data Quality

  8. Method: Survey Data Collection • Data Collection: • 525 mailed • Three waves, one mail wave, one including $2 bill and one telephone follow up wave • 32 % response rate • 170 Executives in Financial Services • 50% primarily b2b and 40% b2c, rest other trade relationships • 50% had retail relationships, 27% relied on outside sales • 10% online sales • Executives had typically twenty years of experience • 166 useable surveys • Response: Percent of Time Data Collected

  9. What is CRM System Quality (α = .76)? • Overall, Data is of high quality when it reflects perceived reality. In our context, we measured managers’ perception of: • Overall Quality of Internet and Email data • Overall Quality of Loyalty/Retention Data • Overall Quality of Contact Management Data and • Overall Quality of CRM data capabilities • 5-Point Scale • 5=Strongly Agree • 1=Strongly Disagree

  10. Customer Performance Measured by Long-Term Customer Profitability • Customer Performance (α = .76): • 1.Customer Retention on an annual basis, • 2.Cross-Selling, and • 3. ROI on a customer basis. • “To the best of your knowledge, please rate your business unit’s performance in the past 2-3 years relative to the competition” on a 1 = lower to 5 = higher scale. • 5-Point Scale • 5=Higher • 1=Lower

  11. Independent Variables Measured Percent of Time Data Types Collected • Personalization/Tracking Data (α = .89): • Tracking marketing offers/messages made to customers, • Tracking marketing offers/messages responded toby customers • Tracking method of contact for marketing offer • Pyscho-Demographic Data (α = .75): • Lifestyle data • Psychographics • Demographics • Customer Touchpoint Data (α = .76) : • Email • Service • Internet • Telephone • RFM/Transactional Data (α = .83): • Last purchase date, • Revenue by product, • Total Revenue from Customers • Length of time as customer • Message/Offer Personalization Data (α = .82): • Tailor marketing offers to customers • Tailor communications to customers • Tailors communications to prospects

  12. SEM RESULTS, all paths except RFM/ Transactional to CRM System Quality (p < .055) significant at p <.05, one tailed Model Fit: RMSEA=.01, GFI =.995

  13. Implications • Performance link from Data Quality • Firms need to be more vigilant than ever in tracking transactional and psych-demographic data • Personalization and Content data leads to increased customer touchpoint data • Touchpoint data eventually leads to CRM system Quality, CRM Performance, completing the loop, validating the cycle

  14. Contacts and Questions James Peltier University of Wisconsin, Whitewater 262-472-5474 peltierj@uww.edu Debra Zahay Northern Illinois University 815-753-6215 zahay@niu.edu Anjala S. Krishen University of Nevada, Las Vegas 540-588-3961 anjala.krishen@unlv.edu “Building the foundation for customer data quality in CRM Systems for financial services firms,” Journal of Database Marketing and Strategy Management, Volume 19, Number 1, pages 5-16 Peltier, J.W., Zahay, D.L. and Lehmann, D.L. (2012 Forthcoming), "Organizational Learning and CRM Success: A Model for Linking Organizational Practices, Customer Data Quality, and Performance," Journal of Interactive Marketing.

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