Introduction to Customer Relationship Management (CRM)

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Introduction to Customer Relationship Management (CRM)

  1. 1. CRM Customer  Rela.onship   Management Jon  Barlow
  2. 2. Agenda: • What  is  CRM? • Where  to  Start • Social  CRM • Ques8ons
  3. 3. “The  purpose  of  a  business  is  to   create  and  keep  a  customer.” Peter  Drucker The  Prac8ce  of  Management   1954
  4. 4. What is CRM? A combination of push and pull marketing It’s an open dialogue with your customer Process to build a relationship with the customer
  5. 5. Two way communication Direct and personal across every tactic Focuses on what your customer wants Trust is developed because you are being more genuine in your messaging What is a Relationship?
  6. 6. The process destroy the sales and marketing silos.
  7. 7. + 32% REVENUE
  8. 8. Where to Start?
  9. 9. Client  View
  10. 10. Who  Are  Your  Customers? Modern Kid   Friendly? Too   Expensive! Stylish   but   comfy?
  11. 11. Ask  Good  Ques.ons • What  do  we  want  to  know  about  the   customer? • What  behavior  do  we  want  to  drive? • What  challenges  or  obstacles  stand  in  the   way?
  12. 12. Look  at  the  Data • Segmenta8on  by: • Demographics • Psychographics • Geography • Organiza8onal  Data
  13. 13. Develop  and  Apply Use  the  insights  to  drive  message strategy,  find  the   right  customers, and  influence  their  behavior. Personalize  the  informa<on  to  all  the  right  people. Spend  the  most   energy  on the  most   profitable  customers.
  14. 14. What do we measure? Measure, Optimize and Refine • Campaign ROI • Channel ROI • Cost per Lead (CPL) or • Cost per Qualified Lead • Sales per Lead
  15. 15. ROI Formula (%) $200k in contracts - ($60k overhead + $50k campaign costs) $50k campaign costs = 180% Marke.ng   Costs AJributed   Revenue Cost  of   Goods   Sold Marke.ng   Costs
  16. 16. Cost per (Qualified) Lead Formula CPQL Marke.ng   Campaign   Cost #   Qualified   Leads $50,000 trade show / 350 qualified leads = $143 per qualified lead
  17. 17. Prospects) (Responders)) Marke2ng)Qualified) Lead) ) Sales)Accepted) Lead) Sales)Qualified) Lead) Closed)) Deals) 2%) Industry)Conversion)) Rate)Averages) B2B Industry Benchmark for Lead Conversions *"Based"on"industry"averages/benchmark"developed"by"Netprospex" Average'Deal'Size' 2013'Marke3ng'Generated'Revenue'Goal' Suspects) 4%) 67%) 47%) 31%) x))$$$$$)) $$$$$$$)
  18. 18. Goal: Find pregnant women in their second trimester. Get them to consider Target for baby needs.
  19. 19. Analyze  shopping  cart  data  for   purchase  trends Create a “pregnancy  score”
  20. 20. Findings: http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html?pagewanted=1&_r=2&hp& unscented  body  lo8on vitamin  supplements coUon  balls   hand  sani8zer
  21. 21. Social CRM A new process?
  22. 22. Not Really...
  23. 23. A disastrous YouTube video posted in 2009 showed two Domino’s employees mishandling a pizza went viral.
  24. 24. Company launched a massive campaign to analyze public opinion across all social media. Domino’s made company-wide changes including: Altering their pizza recipe Reaching out to customers on social media Acknowledging mistakes and promising a better product
  25. 25. Domino’s saw a 14% increase in sales the quarter immediately following the campaign.
  26. 26. Ques8ons? Jon  Barlow jbarlow@capstrat.com TwiUer:  @jon_barlow LinkedIn:  www.linkedin.com/in/jbarlow

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