Download Chapter 9: Overview of CRM and Web Based Technologies

Overview of CRM
and
Web-based Technologies
The current business environment is a
dynamic mix of growing competition, new
and emerging channels, and changing
consumer attitudes
Under the relationship marketing concept,
focus has shifted from one-time transaction
to ongoing relationships on a regular basis
TYPES OF RELATIONSHIP
Five different process involved in building
customer relationship starting from no touch
points to fully interactive marketing




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Basic marketing
Reactive marketing
Accountable marketing
Pro-active marketing
Partnership marketing
RELATIONSHIP VALUES
The aim of relationship marketing is to yield
high customer equity
Customer equity is the aggregate of
discounted lifetime values of all of the firm’s
customers
Three drivers of customer equity:
 value equity
 brand equity
 relationship equity
CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
The process of managing detailed
information
about
individual
customers and carefully managing all
the customer ‘touchpoints’ with the
aim of maximising customer loyalty
CRM STRATEGY
CRM has been divided according to the functionality of
software tools
 Analytical CRM
Use of data modelling and profiling to accomplish
CRM goals
 Collaborative CRM
Tools used to directly engage and interact with
customers
 Operational CRM
‘Back-end’ systems which unify the business and
deliver products
THREE MAIN AREAS THAT CRM SYSTEMS FOCUS
Sales force automation
Customer service
Marketing automation
MARKETING AUTOMATION SYSTEM INCLUDES
Pool of Data-cleansing tools
Content-management applications
Campaign management systems
SIMPLE CRM-THE PRACTICAL CRM PACKAGE
In simple CRM, marketing and customer
service share the same set of customer
value metrics,
making evaluation and
accountability for customer retention and
value a team effort
IMPORTANCE OF CUSTOMER DIVISIBILITY IN CRM
Evolving
from
customer
segmentation to divisibility
CRM WEB-BASED TECHNOLOGIES
Web self-help technology overview
Communication technology overview
Technology management overview
Voice technology overview
BEST PRACTICES IN MARKETING TECHNOLOGY
When companies use new technology to its full
potential, it can provide effective market research
to establish consumer’s area of interest, as well
as to gather electronic information at the point of
sale (POS) that providers do not currently hold in
a usable electronic format
To move towards a true market-led culture,
providers should be proactive and establish their
customer’s requirements