Presentation Transcript

1. REVIEW LEARNING OUTCOMECustomer Relationship Management LOI
2. Identify Customer Relationships LO2 Customer-Centric The company customizes its product and service offering based on data generated through interactions between the customer and the company.
3. Identify Customer Relationships LO2 Learning An informal process of collecting customer data through customer comments and feedback on product or service performance.
4. Identify Customer Relationships LO2 KnowledgeManagement The process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization.
5. Knowledge Management Experiential observations CollectedInformation Includes: Comments Customer actions Qualitative facts LO2
6. Empowerment LO2 Empowerment Delegation of authority to solve customers’ problems quickly—usually by the first person that the customer notifies regarding the problem.
7. Current transaction Channel Past Relationship Requested Service Interactions of the Current Customer Base LO3 Customer
8. Touch Points All possible areas of a business where customers communicate with that business. Point-of-Sale Interactions Communications between customers and organizations thatoccur at the point of sale, normally in a store. http://www.bestbuy.com Online Interactions of the Current Customer Base LO3
9. Web Point of Sale Kiosk Delivery, Installation Survey Product Registration REVIEW LEARNING OUTCOMEInteractions with Current Customer Base LO3 Customer
10. Store visits Conversations with salespeople Interactions via the Web Traditional phone conversations Wireless communications http://www.geico.com Online Capture Customer Data LO4
11. REVIEW LEARNING OUTCOMECapturing Customer Data LO4
12. Response list Compiled list :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Database \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ /////////////////////////////////////////////////////////// ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Data Warehouse REVIEW LEARNING OUTCOMEStore and Integrate Customer Data LO5
13. Data Mining Identifying the Best Customers LO6 A data analysis procedure that identifies significant patterns of variables and characteristics that pertain to particular customers or customer groups.
14. Data Mining Identify and profile the best customers Calculate their lifetime value Predict purchasing behavior LO6
15. Recency-Frequency-Monetary Analysis LO6 Identifies customers mostly like to purchase again Identifies and ranks “best customers” Identifies most profitable customers
16. Leverage Customer Information LO7 Explain the process of leveraging customer information throughout the organization
17. Reinforcing customerpurchase decisions Campaign management Inducing product trialby new customers Retain loyalcustomers Cross-selling other products and services Increasing effectivenessof distribution channel marketing Designing targetedmarketing communications Improving customer service CRM Marketing Database Applications LO7
18. Developing product or service offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships. Campaign Management LO7 CampaignManagement
19. Retaining Loyal Customers LO7 Retaining an additional 5 percent of customers increases profits by as much as 25 percent Improving customer retention by 2 percent candecrease costs by as much as 10 percent Loyalty programs reward loyal customers for making multiple purchases Loyalty programs provide information about customers and trends
20. InfrequentUsers Offer direct incentives, such as a price discount Offer more reinforcement of past purchase decisions ModerateUsers Design around loyalty and reinforcement of purchase HeavyUsers Targeted Marketing Communications LO7
21. Marketing Information Campaign management Retaining loyal customers Cross-selling other products Designing targeted marketingcommunications Reinforcing purchase decisions Inducing product trial by new customers Increasing effectiveness of distribution channel marketing Improving customer service CRM Database Applications REVIEW LEARNING OUTCOME Leveraging Customer Information LO7