Customer Relationship Management Flashcards
What did Berry 1983 describe relationship marketing as
An approach to marketing that emphasised a relationship rather than a transaction approach to business
What is CRM
An enterprise wide commitment to identify the named individual customers and create a relationship beteeen your company and these customers so long as this relationship is mutually beneficial.
It is about developing a relationship with customers so that they want to stay
What does CRM imply for marketing
It is a marketing led approach to building and sustaining long term business with customers
How does digital CRM help marketing
It segmented customers and targets specific groupd with tailored offerings
Digital forms of CRM
Database Online customer services Email marketing Personalised web messaging Chatbots Social media marketing
Why is CRM important what does it help with
Personalisation Segmentation and profiling Content marketing Insights Loyalty programs
What are the two types of personalisation
User defined personalisation
Behaviour personalisation
What is user defined personalisation
The individual tells the organisation what they want
What is behaviour personalisation
An organisation learns what its users want using data
How’s does behaviour personalisation work
It takes indications of an individuals behaviour from signals received through data collection points such. As visiting a website, opening an email, engaging with content, or even visiting specific areas of the store. Web analytics, purchase funnels, research, call centre operations, finance data is also collected end fed into a model or database which gives indications to organisations on how to market their product or service
What are the five common forms of segmentation
Geographic Demographic Behavioural Benefit Psychographic
What does using quantitative and qualitative research help organisations to understand
Buying patterns Interests Competitive analysis Creative feedback Customer behaviours Primary areas of dissatisfaction Motivation Thoughts
What are the steps in the ladder of loyalty
Suspect- prospect- customer - client - advocate
What is a suspect
A person with no relationship with the brand
What is a prospect
Someone who shows some indication of interest such as visit, free subscription or enquiry
