Crm Ppt From Net Valuble

8/2/2019 Crm Ppt From Net Valuble

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Creating Customer Value,

Satisfaction,and Loyalty

(CRM)

5


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Chapter Questions

Customer value, satisfaction, loyalty, andhow can companies deliver them

Lifetime value of customers

How to build strong customer relationships

How to attract & retain customers?

Database marketing >>

CRM (Customer Relationship Mkt.) IMC

CEM (Customer Experience Mkt.)


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Figure 5.1 Organizational Charts


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Steps in a Customer Value Analysis

Identify major attributes and benefitsthat customers value

Assess the qualitative importance of

different attributes and benefits Assess the companys and competitors

performances on the different customervalues against rated importance

Examine ratings of specific segments

Monitor customer values over time


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Top Brands in Customer Loyalty

Avis

Google

L.L. Bean

Samsung (mobilephones)

Yahoo!

Canon (officecopiers)

Lands End

Coors

Hyatt

Marriott

Verizon

KeySpan Energy

Miller Genuine Draft

Amazon


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Measuring Satisfaction

Periodic Surveys

Customer Loss Rate

Mystery Shoppers

Monitor competitiveperformance


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What is Quality?

Quality is the totality of features and

characteristics of a product orservice that bear on its

ability to satisfy

stated or implied needs.


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Maximizing Customer Lifetime Value

Customer

Profitability

CustomerEquity

LifetimeValue


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Figure 5.4 Customer-ProductProfitability Analysis


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Framework for CRM

Identify prospects and customers

Differentiate customers by needsand value to company

Interact to improve knowledge

Customize for each customer


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CRM Strategies

Reduce the rate of defection

Increase longevity

Enhance share of wallet

Terminate low-profitcustomers

Focus more effort onhigh-profit customers


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Customer Retention

Acquisition of customers can cost five timesmore than retaining current customers.

The average customer loses 10% of its

customers each year. A 5% reduction to the customer defection

rate can increase profits by 25% to 85%.

The customer profit rate increases over thelife of a retained customer.


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Figure 5.5 The CustomerDevelopment Process

Prospects

Suspects

Disqualified

First-timecustomers

Repeatcustomers Clients Members

PartnersEx-customers


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Using the Database

To identify prospects

To target offers

To deepen loyalty

To reactivate customers

To avoid mistakes

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Crm Ppt From Net Valuble