241 W12 C1.2 CRM

241 W12 C1.2 CRM - Chapter 1 Part Deux “ Marke&ng isn...

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Unformatted text preview: Chapter 1 Part Deux “ Marke&ng isn ’ t somebody ’ s responsibility; marke&ng is everybody ’ s responsibility. ” Jack Welch From the Creators of South Park. From the “Love Group.” “Learn and understand fundamental components and tools for marketing and how each relates to creating and sustaining value for customers.” Attract and retain the right customers. Pro tability E x p e r i e n c e E x p e c t a t i o n s Dissatisfaction Delight Experience Expectations Satisfaction § The Anticipation before… $50,000 $600,000 1 2 3 4 5 6 7 CustomerProft Year Price Premium Referrals Cost Savings Revenue Growth Base ProFt Acquisi&on Cost Impact of 5% retention increase on NPV Pro ts Customer Retention Customer Acquisition Harvard Business Framework Loyalty Latent Loyalty Inertia (not loyalty) No Loyalty High Low High Low Behavior Attitude “The Love Group!!” Customer Relationship Management The overall process of building and maintaining pro table customer relationships by delivering superior customer value and satisfaction 1. CRM can and does improve business performance 2. Reduces the cost to serve and acquire customers 3. Helps rm identify unpro table customers 4. Facilitates experimentation / learning 5. Helps rm measure ROMI 6. Allows the rm to focus marketing dollars • Iden&fy Key Informa&on • Set up a system for Marke&ng • Frequency Marke&ng (Promote visits, orders, sales) Permission Marke&ng, Web 2.0 Form Database • Select the most pro¡table segments (long term)...
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241 W12 C1.2 CRM - Chapter 1 Part Deux “ Marke&ng isn...

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