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Marketing After Recession With Crm
- 1. Marketing After Recession With CRM Begüm AL
- 2. • Can recession be the ideal time for launching a company? Many well known and successful organizations were born during an economic slump.
- 3. Burger King Corporation, with its flame- broiled burgers, is a recession startup. The company began in 1954 when James McLamore and David Edgerton opened a Burger King restaurant in Miami. During another recession in 1957, the company introduced its successful signature burger — the Whopper. Today, the company operates more than 11,100 locations in 65 countries.
- 4. Recessions, however, aren't advantageous only to start-ups. Marketing strategies are also so important after recession.
- 5. Harvard Business School marketing professor John Quelch offers seven recommendations for marketers to plan ahead. His advice, writing on Harvard Business Publishing: • 1-Focus on high-potential customers. • 2-Don’t assume a return to normal. • 3-Assess your target customers’ trust in your brand. • 4-Stay focused on costs. • 5-Know your lead indicators. • 6-Develop scenarios. • 7-Don’t wait for permission.
- 6. • These are all important points, but companies should be careful when they are planning their strategies. • A strategy just focuses on high potential customers or a strategy just developing scenarios may be deficient. • An interactive marketing strategy with sinergy should be generated by using all these recommendations.
- 7. CRM 2.0 tools is allowing marketing advantages to discover new customers and cultivate more productive customer relationships.
- 8. • You can connect with potential customers through CRM 2.0 tools without big expenses. • It helps for making quick decisions, help marketing team to know the latest market trend and give the ability to generate their market strategy accordingly. It measures marketing effectiveness and helps in delivering personalized customer care.That kind of relationship would be extremely valuable in a recession.
- 9. • One of CRM's greatest strengths is that it collects and organizes information about your customers and lets you analyze the data for future opportunities
- 10. • With better information at their finger tips and best practices codified into your business policies, you can optimize service for your customers and maximize revenue.
- 11. • This recession also make companies to focus on e-commerce marketing.Online business seem to be better suited to stand than physical stores or advertisements.
- 12. • Retailers are getting more sophisticated about using e-mail to attract and retain specific customers already known to them.
- 13. Resources • http://www.insidecrm.com/features/businesses-started-slump-111108/ • http://blogs.bnet.com/harvard/?p=1045 • http://www.insidecrm.com/features/crm-important-recession-082508/ • http://www.crm-daily.com/story.xhtml?story_id=66376