Customer Relationship                      Management         Objective: This lesson discusses customer service and why pr...
Customer Service            Poor Customer Service can ruin a                       business,                              ...
Satisfy Your CustomersGood Customer Service : • Provides sincere, honest, and reliable service • Listens to customers • He...
Employees Are Your Representatives• Treat employees well• They are as important as customers• Both are vital to your busin...
Keep Customers Coming BackWhat you can do: • Offer Personalized Treatment • Be Reliable • Be Flexible • Build Trust • Get ...
Continued and Consistent Communication What you can do:    • Focus on current customers    • Get personal    • Write Thank...
Customer Lifetime Value (CLV)    Aprediction of the net profit attributed to the          entire future relationship with ...
How to Determine CLV• Gross Profit, Customer Retention Costs, and  Customer Retention Percentage• Divide into Customer Gro...
Upcoming SlideShare
Loading in...5
×

Lesson 16: Customer Relationship Management

662

Published on

Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson16

This lesson discusses customer service and why preserving long-term customer satisfaction is as important as other business assets and how it can be used as a competitive tool. It examines strategies to maintain customer relationships and describes the value of Customer Lifetime Value (CLV) as a business concept.

The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
662
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
33
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "Lesson 16: Customer Relationship Management"

  1. 1. Customer Relationship Management Objective: This lesson discusses customer service and why preserving long- term customer satisfaction is as important as other business assets and how it can be used as a competitive tool.Novus Business and IT Training Program
  2. 2. Customer Service Poor Customer Service can ruin a business, but… Great Customer Service can overcome almost anything!Novus Business and IT Training Program 1
  3. 3. Satisfy Your CustomersGood Customer Service : • Provides sincere, honest, and reliable service • Listens to customers • Helps customers even if it means sending them elsewhere • Ensures the customer understands the product • Deals kindly with complaints on a timely basis • Employs a knowledgeable and trained staff Novus Business and IT Training Program 2
  4. 4. Employees Are Your Representatives• Treat employees well• They are as important as customers• Both are vital to your businessNovus Business and IT Training Program 3
  5. 5. Keep Customers Coming BackWhat you can do: • Offer Personalized Treatment • Be Reliable • Be Flexible • Build Trust • Get Personal • Be Here to Stay • Do Something UnexpectedNovus Business and IT Training Program 4
  6. 6. Continued and Consistent Communication What you can do: • Focus on current customers • Get personal • Write Thank-You notes • Telephone customers • Reward repeat customers with small gifts or discounts • Ask your customers for comments • Have a “Customer Appreciation Day” Novus Business and IT Training Program 5
  7. 7. Customer Lifetime Value (CLV) Aprediction of the net profit attributed to the entire future relationship with a customer, sometimes known as Customer Equity.Novus Business and IT Training Program 6
  8. 8. How to Determine CLV• Gross Profit, Customer Retention Costs, and Customer Retention Percentage• Divide into Customer Groups: - For each group, determine “purchasing lifetime”. - Count the total number of purchases they make over a length of time. - Determine average amount purchased in a single visit. - Calculate the CLV for each segment.Novus Business and IT Training Program 7
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×