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CRM > CRM Strategy > Flashcards

CRM Strategy Flashcards

1
Q

Give the different steps of a CRM strategy.

A
  1. Create Awareness
  2. Vision-Mission-Strategy
  3. Ask the Customer
  4. Customer Segmentation
  5. Mass Customization
  6. Contact Strategy
  7. Relationship Strategy
  8. Customer Information
  9. Improve Key Customer Processes
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2
Q

What do you need to do in Step 1?

A

In step 1 (Create Awareness) you ask some critical questions like:

  • What does the company means with CRM?
  • What is their current/future CRM model?

Essentially, you need to create a CRM taskforce.

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3
Q

What is a mission?

A

A mission is the primary function of the organisation. It explains what they do.

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4
Q

What is a vision?

A

A vision explains how they do their primary function. It expresses the crucial values.

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5
Q

Why are CSF important?

A

Critical Success Factors are important for survival and success of the organisation.

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6
Q

What are objectives?

A

Measurable CSF’s

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7
Q

What are the different customer value propositions?

A
  • Operational Excellence
  • Customer Intimacy
  • Product Leadership
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8
Q

What is a customer value proposition?

A

It is a unique mixes of product and service attributes, customer relations and corporate image.

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9
Q

What is Operational Excellence? + examples

A

It’s providing customers with reliable products or services at competitive prices and easy availability.

Examples:

  • Dell
  • McDonalds
  • Toyota
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10
Q

What are the core competencies of an operational excellence company?

A
  • Totally dependable product supply
  • Low customer service
  • Effective demand management
  • Low-cost operations
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11
Q

What is Customer Intimacy? + examples

A

Knowing customers intimately and being able to respond quickly to their specific and special needs.

Examples:

  • Harley Davidson
  • Amezon.com
  • Lexus
  • Rolls Royce
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12
Q

What is the objective of Customer Intimacy?

A

Long-term customer loyalty and long-term customer profitability.

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13
Q

What are the core competencies of Customer Intimacy?

A
  • Exceptional skills in discovering customer needs
  • Problem solving proficiency
  • Flexible product/solution customisation
  • Customer relationship management mind-set
  • Wide presence of collaborative (win-win) negotiations skills
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14
Q

What is Product Leadership? + examples

A

Offering customers innovative products and services that enhance the customer’s utility and outperform competitors’ products (state of the art, innovation)

Examples:

  • Sony
  • Samsung
  • Mercedes
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15
Q

What’s the objective of Product Leadership?

A

The quick commercialisation of new ideas.

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16
Q

What are the core competencies of a Product Leadership company?

A
  • Basic research/rapid research interpretation
  • Applied research geared toward product development
  • Rapid exploitation of market opportunities
  • Excellent marketing skills
17
Q

What’s looking at an organization using the Customer Perspective about?

A

It’s about how the customers perceive the value offered.

18
Q

What’s Step 3 about?

A

Ask The Customer

  • Understand the Customer’s motivation, demands, needs, expectations
  • Understand their behaviour and how it’s influenced
  • Deliver products & services with added value
  • Deliver quality that meets the expectations
  • Create ambassadors
19
Q

What’s a suspect?

A

Vermoeden dat hij/zij een klant kan worden

20
Q

What’s a prospect?

A

Persoon die reeds acties heeft ondernemen om klant te worden

21
Q

How can we segment customers? piramide

A
22
Q

How can you segment the customers when you take the transaction volume and the amount in consideration? Draw a figure.

A
23
Q

Explain mass customization + examples

A

Unvisible Customization:

  • Customized newsletter: same lay-out, different content

Adjustable Customization:

  • Alarm Installation: standaard product maar de gebruiker kan uit mogelijke functionaliteiten kiezen.

Full Customization:

  • Tuinaanleg

Cosmetic Customization:

  • Homebrand in een supermarkt: same product, but different presentation
24
Q

What do you need to think about when you choose a contact strategy?

A
  1. Sales and distribution strategy
  2. Products or services
  3. Customer processes (attention, information, sales, service)
  4. Mass customization
  5. Costs of the contactchannel
  6. Customer
25
Q

What are the two variables in determining a contactchannel?

A
26
Q

What’s Step 9 about?

A

Customer Processes

  • Select the key customer processes
    • add value for customer: better, faster, cheaper
    • match CRM targets: customer satisfaction, customer profit, drop-out
  • Perform problem analysis
  • Redesign customer processes
27
Q

What’s Step 8 about?

A

Customer Information

It’s about analyzing and archiving the following points:

  • customer data
  • customer contacts
  • products and/or services
  • process status
  • marketing & communication
28
Q

Explain the relationship strategy.

A
29
Q

What’s the target of the relationship strategy?

A

Increasing customer profit or decreasing customer drop out.

30
Q

What is cross selling?

A

The strategy of selling new products to current customers based on their past purchases.

31
Q

What is deep selling?

A

selling more to existing customers

32
Q

What is up-selling?

A

a sales technique whereby a seller induces the customer to purchase more expensive items, upgrades, or other add-ons in an attempt to make a more profitable sale.

33
Q

What is a push strategy?

A

A push promotional strategy involves taking the product directly to the customer via whatever means, ensuring the customer is aware of your brand at the point of purchase.

“Taking the product to the customer”

34
Q

What is a pull strategy?

A

A pull strategy involves motivating customers to seek out your brand in an active process.

“Getting the customer to come to you”

35
Q

What are values?

A

Guiding principles

CRM (4 decks)

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