Course 6 - Demand side: Customer account management Flashcards
Customer relationship management
business strategy, processes and IT which a company use to optimize revenues and increase the value through understanding and satisfying the individual customer needs
CRM - key points
=> more than marketing, it is an enterprise-wide initiative
=> tech important since it heavily relies on “customer knowledge)
=> optimization relationship to the customer and internal processes associated with
=> tech -> new ways of interacting with customers
CRM ->
- Objective
- CRM systems:
- analytical
- operational
- collaborative - CRM functions:
- sales
- service
- marketing
Distribution channel
means by which a company delivers its goods and services to its customers
Typical distribution channel
=> wholesale (indirect)
=> retail (indirect)
=> own sales organization (direct)
=> online / Internet sales (direct)
What characterizes a distribution channel?
=> has its own strategies, approaches and constraints
=> has distinctive responsibilities, pricing systems, plants and other
Core process: Marketing and Sales
- Prospecting
- Opportunity development
- Closing
Core process: Order fulfilment - Order-to-cash
- Customer order processing
- Shipping
- Invoicing
- Payment processing
Core process: Purchasing - Procure-to-pay
- Supply planning
- Ordering
- Goods receipt
- Settlement
Sales funnel (entonnoir) - Marketing
- Prospecting
- > awareness - Opportunity development
- > interest plus desire - Closing
- > action
Campaign ->
- Promotional activities to generate new business
- Target group
- Channel
- Follow-up activities (tracking of customer contacts, lead generation)
Opportunity and pipeline ->
- Identify and follow through on the possibility of selling goods or services to a particular customer
- Relevant if (sales cycles are long, expected sales volume is high, you want to monitor sales cycles and track stalled opportunities)
- Sales phases
- Classification
- Analysis
Pricing ->
- Automatic price calculation based on defined price components
- Price components
- Profit margin
Opportunity
CRM: evaluation and follow-up of a sales lead
Pipeline
CRM: opportunities that are open and are being processed
Profit margin
difference between the total net value based on the net price per product or service and the total costs based on the product valuation per product or service
Sales activities
management of customer-related activities (phones calls, emails, appointments, etc.)
Availability check
check whether requested quantity of a product can be delivered at a specific time
