This document summarizes an invited commentary on the implications of technology innovation for customer relationship management (CRM). The author makes several key points:
1) Advances in technology have expanded opportunities for firms to establish long-term customer relationships through multiple communication channels and innovative CRM programs.
2) Rigorous research is needed to understand how customers interact with and respond to various service channels, pricing structures, CRM programs, and dynamic marketing interventions over time.
3) Framing CRM as a dynamic control problem that maximizes long-term customer profit could help firms strategically time marketing interventions based on a customer's stage of demand maturity.
The document discusses how customers today are more educated and empowered than ever before. It emphasizes that customer engagement and experience are top priorities for businesses, as engaged customers spend more and promote brands through positive recommendations. The end state result is that marketing will focus on optimizing the customer experience and changing customers' perceptions from seeing communications as "spam" to valuable offers from a trusted service provider.
Beyond Omnichannel: Determining the Right Channel MixCognizant
Many companies believe that simply adding more customer channels or reducing the time it takes to handle customer queries will boost customer satisfaction and enhance the customer experience. Yet the proliferation of digital technologies and touchpoints have made it more difficult to track customer preferences and purchasing traits. By identifying customers’ preferred contact channels, companies can more effectively engage, serve, and retain them while driving profitable growth.
1) The document discusses various aspects of knowledge-based marketing such as segmentation, positioning, promotion, product development, pricing, and customer relationship management.
2) It emphasizes the importance of understanding customer needs and behaviors through market research and data analysis to inform marketing strategies and decisions.
3) New technologies like data mining, customer databases, and digital tools allow companies to gain deeper insights into customers and customize their marketing accordingly.
Why Pricing, data & customer segmentation are relevant for insurance (partly ...Jerry J. Stam
Why Pricing, data & customer segmentation are relevant for insurance (partly Dutch). Lessons shared from retailers and how insurers would benefit if they applied (some of) them
The Key To Successful Cross-Channel MarketingC.Y Wong
The document discusses a study on cross-channel marketing conducted by Forrester Consulting. Key findings include:
1) Most marketers believe in cross-channel integration but still face challenges in understanding customer interactions across channels and managing execution.
2) Marketers rely on multiple technologies for cross-channel support but report that current tools have shortcomings like lacking cross-channel analytics and measurement.
3) Marketers were segmented into four levels of sophistication based on measurement, organization, technology use, and data capabilities. More sophisticated marketers integrate more channels and face fewer challenges.
Marketing & Sales Effectiveness Supported by Segmentation & Messagingchristyaron
The document discusses approaches for integrated marketing and sales, including segmentation, targeting, and messaging. It emphasizes understanding customers through segmentation based on characteristics, behaviors, and attitudes. Well-defined customer segments and personas can then be used to develop tailored value propositions and messages. The document provides examples of segmentation approaches and outlines a project plan for developing an effective customer segmentation model.
The Forrester Wave: Demand- Side Platforms, Q4 2011Anton Lapkin
MediaMath, Turn, and DataXu led the evaluation due to their breadth of media access, depth of audience management capabilities, and algorithmic optimization expertise. Invite Media by Google features an intuitive platform but lacks some advanced capabilities. AppNexus focuses more on the sell-side, while X Plus One specializes in audience management and optimization over a full-service platform. LucidMedia Networks trails competitors in resources, market focus, and user-friendliness.
Insurance companies are great at acquisition but bad at retention. Jack Morton offers our unique POV and 5 ways insurance brands can keep more customers.
The document discusses how customers today are more educated and empowered than ever before. It emphasizes that customer engagement and experience are top priorities for businesses, as engaged customers spend more and promote brands through positive recommendations. The end state result is that marketing will focus on optimizing the customer experience and changing customers' perceptions from seeing communications as "spam" to valuable offers from a trusted service provider.
Beyond Omnichannel: Determining the Right Channel MixCognizant
Many companies believe that simply adding more customer channels or reducing the time it takes to handle customer queries will boost customer satisfaction and enhance the customer experience. Yet the proliferation of digital technologies and touchpoints have made it more difficult to track customer preferences and purchasing traits. By identifying customers’ preferred contact channels, companies can more effectively engage, serve, and retain them while driving profitable growth.
1) The document discusses various aspects of knowledge-based marketing such as segmentation, positioning, promotion, product development, pricing, and customer relationship management.
2) It emphasizes the importance of understanding customer needs and behaviors through market research and data analysis to inform marketing strategies and decisions.
3) New technologies like data mining, customer databases, and digital tools allow companies to gain deeper insights into customers and customize their marketing accordingly.
Why Pricing, data & customer segmentation are relevant for insurance (partly ...Jerry J. Stam
Why Pricing, data & customer segmentation are relevant for insurance (partly Dutch). Lessons shared from retailers and how insurers would benefit if they applied (some of) them
The Key To Successful Cross-Channel MarketingC.Y Wong
The document discusses a study on cross-channel marketing conducted by Forrester Consulting. Key findings include:
1) Most marketers believe in cross-channel integration but still face challenges in understanding customer interactions across channels and managing execution.
2) Marketers rely on multiple technologies for cross-channel support but report that current tools have shortcomings like lacking cross-channel analytics and measurement.
3) Marketers were segmented into four levels of sophistication based on measurement, organization, technology use, and data capabilities. More sophisticated marketers integrate more channels and face fewer challenges.
Marketing & Sales Effectiveness Supported by Segmentation & Messagingchristyaron
The document discusses approaches for integrated marketing and sales, including segmentation, targeting, and messaging. It emphasizes understanding customers through segmentation based on characteristics, behaviors, and attitudes. Well-defined customer segments and personas can then be used to develop tailored value propositions and messages. The document provides examples of segmentation approaches and outlines a project plan for developing an effective customer segmentation model.
The Forrester Wave: Demand- Side Platforms, Q4 2011Anton Lapkin
MediaMath, Turn, and DataXu led the evaluation due to their breadth of media access, depth of audience management capabilities, and algorithmic optimization expertise. Invite Media by Google features an intuitive platform but lacks some advanced capabilities. AppNexus focuses more on the sell-side, while X Plus One specializes in audience management and optimization over a full-service platform. LucidMedia Networks trails competitors in resources, market focus, and user-friendliness.
Insurance companies are great at acquisition but bad at retention. Jack Morton offers our unique POV and 5 ways insurance brands can keep more customers.
Predictive analytics reaps the value from CRM databases aided by customer segmentation, competitive intelligence, and learning from marketing campaigns.
The events of the last two years constitute more than an economic recession. Rather, they shape a global realignment -- "The New Normal." This position papers describes four fundamental areas where change has occurred in society and provides recommended responses for service brands and service marketers.
This document discusses customer segmentation and provides details on its various phases and processes. It is divided into the following key sections:
1. It outlines a three phase customer segmentation framework: customer segmentation, planning and execution, and institutionalization.
2. It then provides more details on the customer segmentation analytics process, including defining objectives, identifying relevant variables, data preparation, modeling, scoring, profiling segments, and identifying segment strategies.
3. Various statistical tools for segmentation like cluster analysis and CHAID are mentioned. Example attributes for segmenting banking customers and IT company customers are also listed.
Research Report: Customer Services in Social Media ChannelsAlexander Rossmann
In recent years, marketing scholars have invested heavily in exploring the role of social media in marketing theory and practice. One valuable strategy for using social media in marketing communication is to provide customer services in applications like Facebook or Twitter. This paper evaluates a) the concept of perceived service quality in different service channels and b) the impact customer service strategies have on customer loyalty, word of mouth communication, and cross-sell preferences. The framework presented here is tested cross-channel against data collected from the customer service department of a large telecommunication provider. The results elucidate the effectiveness of customer service strategies in different channels.
Targeting, Segmentation and Messaging Approaches for Marketing and Sales Effe...christyaron
The document discusses approaches for effective marketing and sales through integrated targeting, segmentation, and messaging. It emphasizes understanding customers through data-driven segmentation and developing personas to design tailored value propositions. An effective model starts with robust customer intelligence to segment the market and define personas, which are used to create consistent, resonant messages across all channels.
Multi-Channel Analytics: The Answer to the "Big Data" Challenge and Key to Im...Dr. Cedric Alford
By gathering and analyzing data from every marketing activity and channel source, the goal of multi-channel analytics is to enable companies to gain valuable business intelligence about their customers and prospects. Multi-channel analytics allows companies to more efficiently segment customers and to better understand what content and special offers to send, when, and through what preferred channels. Customer intelligence gleaned through multi-channel analytics provides a clearer picture of what integrated marketing content and channels are working (or not). With this information, companies can better plan future marketing programs and marketing budget to achieve a strong return on marketing investment (ROMI). Multi-channel analytics can be a game changer -- leading to increased sales, increased customer loyalty and enhanced customer lifetime value.
Dr. Cedric Alford provides a position on multi-channel analytics and datamarts in today's global organizations.
Social media measurement tools group 1Sahil Surana
Social media analytics is a tool for measuring, analyzing, and interpreting interactions on social media to understand customer sentiment. It allows marketers to identify trends and accommodate customers better. Key benefits include transforming sentiment, identifying sales opportunities, and preparing for brand issues. Social media analytics provides insights for improved marketing, sales, and customer satisfaction. However, challenges include the dominance of large players, handling mobile and unstructured data, and ensuring trustworthy conversation analysis.
This document summarizes the key findings of Alterian's 2009 annual survey of over 1,000 marketers, agencies, and systems integrators. The survey found that marketers are shifting marketing budgets from traditional direct marketing to digital and social channels, with 40% anticipating over a 20% shift. However, many marketers are not prepared to leverage new techniques, with 42% not integrating web analytics into customer databases and 40% of marketing staff lacking necessary skills. A growing need for customer engagement is driving demand for new service providers to help marketers better coordinate resources and channels. While interest in social media is high, with 66% planning investments, many may not see full benefits without also investing in social media monitoring tools.
The document discusses customer segmentation methods. It notes that advanced segmentation methods like value-based segmentation using customer lifetime value (CLV) can help companies better understand customers and ensure long-term profitability compared to basic methods. A multi-layer model combining advanced methods provides the most effective segments to connect with customers through acquisition, loyalty programs, and other targeted actions. The key is to define clear objectives and continuously improve the segmentation model.
Cenco marketing the future of marketing_ mohanluis rebolledo
The document discusses the changing nature of marketing from a traditional product-focused and transactional approach to a more collaborative process focused on building relationships. It argues marketing must shift from focusing on short-term exchanges to creating long-term value for all stakeholders. Additionally, the marketing organization structure needs to transition from functional silos to a more adaptive front-end customer-centric organization connected to a back-end specialist organization through integrated processes. The marketer's role is also evolving from managers of product marketing to integrators that serve customer segments and link to specialists.
This white paper discusses how companies can use customer analytics to gain a better understanding of their customers and improve business outcomes. It recommends combining both structured and unstructured customer data from various sources to build rich customer profiles. This helps companies identify customer needs, improve experiences, increase loyalty and revenue. The paper provides examples of how companies have leveraged customer analytics to reduce costs, increase market share and optimize marketing without increasing spend.
Knowledge modeling of on line value managementSTIinnsbruck
This document summarizes a paper that proposes a new methodology for scalable online value management. The methodology separates content from communication channels by developing domain ontologies and linking them to a channel model through a "weaver". This allows information to be reused across multiple channels. It distinguishes between yield management, brand management, reputation management, and general value management as economic goals of communication. The paper then describes developing information models, a channel model that categorizes different communication modes, and applications that demonstrate the methodology.
The document summarizes the NEXT Survey, a longitudinal research initiative studying how companies can effectively implement social media strategies. It examines social media's role in marketing and explores how engaging users through value and trust can help companies avoid the "trough of disillusionment" that comes from one-way communication. Case studies of Migros and Telekom highlight how they engage customers on social media to improve products/services and customer support. The survey seeks to understand how social media can be integrated into corporate value chains and how trust can be enhanced to engage users and access their data. It aims to identify competitive advantages of effective social media strategies.
The document discusses the challenges brands face with empowered consumers who control when, where, and how they engage with brands. It argues that brands need to refine multidimensional consumer insights from various data sources to better understand consumers and maximize marketing ROI, customer value, and margins. The document provides tips for brands to transform, including prioritizing proprietary consumer insights over third-party data and controlling insight to improve targeted marketing and customer relationships.
MAdTech : qu'est-ce que ça change ? - White PaperIpsos France
Technology is fundamentally reshaping the advertising and media landscapes. Media, advertising, and technology now intersect, altering how consumers engage with content. This intersection, known as MAdTech, means brands must adapt to meet the demands of empowered consumers. While data is abundant, actionable insights remain scarce. Ultimately, understanding human behavior and decision-making is key to success in this changing environment.
Measuring the effectiveness of online advertisingDung Tri
This document discusses measuring the effectiveness of online advertising. It outlines seven key approaches: defining online communications strategies; measuring impact on branding objectives; measuring impact on offline sales; measuring media mix effectiveness; analyzing impact on browsing behavior; assessing impact of targeting; and measuring impact of advertising formats. The document provides background on how new internet usage and evolving formats/targeting are driving online advertising growth and the need for effective measurement.
This document discusses how advanced statistical analysis techniques like factor analysis, cluster analysis, and CHAID analysis can be used to gain insights from market segmentation data. The analyses were applied to data about cinema-goers to identify 3 distinct segments - Word of Mouth, Critically Acclaimed, and Hollywood. Factor analysis reduced 32 attributes to 4 factors. Cluster analysis grouped individuals into the 3 segments based on these factors. CHAID analysis further profiled each segment by modeling variables to predict outcomes and find typical characteristics of individuals in each segment.
This document discusses using consumer media consumption patterns to develop targeted integrated marketing communication plans. The author proposes segmenting consumers based on their different media usage and analyzing this to determine the optimal mix of advertising, PR, interactive and word-of-mouth methods for each segment. As a case study, a survey was conducted to identify segments for a new e-commerce company based on consumers' media habits and perceptions of online shopping. The segments identified from this data could then be used to develop customized messaging and placement in the appropriate media channels for each segment.
This document discusses the three pillars of an effective marketing campaign:
1. Strategic planning, which involves data analysis, segmentation, and goal-setting.
2. Campaign execution across multiple digital and offline channels to engage target audiences.
3. Monitoring and reporting on campaign performance to increase ROI and optimize future campaigns.
This document discusses the challenges that information professionals face when sourcing information products. It describes a complex process involving variables like uncertain budgets, competing Internet content, and non-transparent pricing structures. The document then introduces a seven-step strategic sourcing process from A.T. Kearney that information professionals can use to successfully source and renegotiate contracts for information products. The first step involves thoroughly profiling internal spending, user needs, and the external supply market.
Relationship Marketing and Impact of Technologypennyhumas
Developments in information technology and manufacturing technology have greatly impacted relationship marketing. Technology enables effective data storage and communication, which are necessary for relationship marketing strategies to be effective. Some key impacts of technology include enabling mass customization, reducing time to market for new products, facilitating loyalty programs and one-to-one marketing through customer data collection and analysis. Overall, information technology has strengthened relationship building capabilities but must be used effectively to provide value to customers.
MBA Projects, synopsis, and synopsis of various regular as well as distance learning undergraduate and postgraduate courses for various institutions like SMU – Sikkim Manipal University, SMUDE, AIMA, AMITY, IGNOU, SCDL, JAMIA, AMU, JHU etc.
Predictive analytics reaps the value from CRM databases aided by customer segmentation, competitive intelligence, and learning from marketing campaigns.
The events of the last two years constitute more than an economic recession. Rather, they shape a global realignment -- "The New Normal." This position papers describes four fundamental areas where change has occurred in society and provides recommended responses for service brands and service marketers.
This document discusses customer segmentation and provides details on its various phases and processes. It is divided into the following key sections:
1. It outlines a three phase customer segmentation framework: customer segmentation, planning and execution, and institutionalization.
2. It then provides more details on the customer segmentation analytics process, including defining objectives, identifying relevant variables, data preparation, modeling, scoring, profiling segments, and identifying segment strategies.
3. Various statistical tools for segmentation like cluster analysis and CHAID are mentioned. Example attributes for segmenting banking customers and IT company customers are also listed.
Research Report: Customer Services in Social Media ChannelsAlexander Rossmann
In recent years, marketing scholars have invested heavily in exploring the role of social media in marketing theory and practice. One valuable strategy for using social media in marketing communication is to provide customer services in applications like Facebook or Twitter. This paper evaluates a) the concept of perceived service quality in different service channels and b) the impact customer service strategies have on customer loyalty, word of mouth communication, and cross-sell preferences. The framework presented here is tested cross-channel against data collected from the customer service department of a large telecommunication provider. The results elucidate the effectiveness of customer service strategies in different channels.
Targeting, Segmentation and Messaging Approaches for Marketing and Sales Effe...christyaron
The document discusses approaches for effective marketing and sales through integrated targeting, segmentation, and messaging. It emphasizes understanding customers through data-driven segmentation and developing personas to design tailored value propositions. An effective model starts with robust customer intelligence to segment the market and define personas, which are used to create consistent, resonant messages across all channels.
Multi-Channel Analytics: The Answer to the "Big Data" Challenge and Key to Im...Dr. Cedric Alford
By gathering and analyzing data from every marketing activity and channel source, the goal of multi-channel analytics is to enable companies to gain valuable business intelligence about their customers and prospects. Multi-channel analytics allows companies to more efficiently segment customers and to better understand what content and special offers to send, when, and through what preferred channels. Customer intelligence gleaned through multi-channel analytics provides a clearer picture of what integrated marketing content and channels are working (or not). With this information, companies can better plan future marketing programs and marketing budget to achieve a strong return on marketing investment (ROMI). Multi-channel analytics can be a game changer -- leading to increased sales, increased customer loyalty and enhanced customer lifetime value.
Dr. Cedric Alford provides a position on multi-channel analytics and datamarts in today's global organizations.
Social media measurement tools group 1Sahil Surana
Social media analytics is a tool for measuring, analyzing, and interpreting interactions on social media to understand customer sentiment. It allows marketers to identify trends and accommodate customers better. Key benefits include transforming sentiment, identifying sales opportunities, and preparing for brand issues. Social media analytics provides insights for improved marketing, sales, and customer satisfaction. However, challenges include the dominance of large players, handling mobile and unstructured data, and ensuring trustworthy conversation analysis.
This document summarizes the key findings of Alterian's 2009 annual survey of over 1,000 marketers, agencies, and systems integrators. The survey found that marketers are shifting marketing budgets from traditional direct marketing to digital and social channels, with 40% anticipating over a 20% shift. However, many marketers are not prepared to leverage new techniques, with 42% not integrating web analytics into customer databases and 40% of marketing staff lacking necessary skills. A growing need for customer engagement is driving demand for new service providers to help marketers better coordinate resources and channels. While interest in social media is high, with 66% planning investments, many may not see full benefits without also investing in social media monitoring tools.
The document discusses customer segmentation methods. It notes that advanced segmentation methods like value-based segmentation using customer lifetime value (CLV) can help companies better understand customers and ensure long-term profitability compared to basic methods. A multi-layer model combining advanced methods provides the most effective segments to connect with customers through acquisition, loyalty programs, and other targeted actions. The key is to define clear objectives and continuously improve the segmentation model.
Cenco marketing the future of marketing_ mohanluis rebolledo
The document discusses the changing nature of marketing from a traditional product-focused and transactional approach to a more collaborative process focused on building relationships. It argues marketing must shift from focusing on short-term exchanges to creating long-term value for all stakeholders. Additionally, the marketing organization structure needs to transition from functional silos to a more adaptive front-end customer-centric organization connected to a back-end specialist organization through integrated processes. The marketer's role is also evolving from managers of product marketing to integrators that serve customer segments and link to specialists.
This white paper discusses how companies can use customer analytics to gain a better understanding of their customers and improve business outcomes. It recommends combining both structured and unstructured customer data from various sources to build rich customer profiles. This helps companies identify customer needs, improve experiences, increase loyalty and revenue. The paper provides examples of how companies have leveraged customer analytics to reduce costs, increase market share and optimize marketing without increasing spend.
Knowledge modeling of on line value managementSTIinnsbruck
This document summarizes a paper that proposes a new methodology for scalable online value management. The methodology separates content from communication channels by developing domain ontologies and linking them to a channel model through a "weaver". This allows information to be reused across multiple channels. It distinguishes between yield management, brand management, reputation management, and general value management as economic goals of communication. The paper then describes developing information models, a channel model that categorizes different communication modes, and applications that demonstrate the methodology.
The document summarizes the NEXT Survey, a longitudinal research initiative studying how companies can effectively implement social media strategies. It examines social media's role in marketing and explores how engaging users through value and trust can help companies avoid the "trough of disillusionment" that comes from one-way communication. Case studies of Migros and Telekom highlight how they engage customers on social media to improve products/services and customer support. The survey seeks to understand how social media can be integrated into corporate value chains and how trust can be enhanced to engage users and access their data. It aims to identify competitive advantages of effective social media strategies.
The document discusses the challenges brands face with empowered consumers who control when, where, and how they engage with brands. It argues that brands need to refine multidimensional consumer insights from various data sources to better understand consumers and maximize marketing ROI, customer value, and margins. The document provides tips for brands to transform, including prioritizing proprietary consumer insights over third-party data and controlling insight to improve targeted marketing and customer relationships.
MAdTech : qu'est-ce que ça change ? - White PaperIpsos France
Technology is fundamentally reshaping the advertising and media landscapes. Media, advertising, and technology now intersect, altering how consumers engage with content. This intersection, known as MAdTech, means brands must adapt to meet the demands of empowered consumers. While data is abundant, actionable insights remain scarce. Ultimately, understanding human behavior and decision-making is key to success in this changing environment.
Measuring the effectiveness of online advertisingDung Tri
This document discusses measuring the effectiveness of online advertising. It outlines seven key approaches: defining online communications strategies; measuring impact on branding objectives; measuring impact on offline sales; measuring media mix effectiveness; analyzing impact on browsing behavior; assessing impact of targeting; and measuring impact of advertising formats. The document provides background on how new internet usage and evolving formats/targeting are driving online advertising growth and the need for effective measurement.
This document discusses how advanced statistical analysis techniques like factor analysis, cluster analysis, and CHAID analysis can be used to gain insights from market segmentation data. The analyses were applied to data about cinema-goers to identify 3 distinct segments - Word of Mouth, Critically Acclaimed, and Hollywood. Factor analysis reduced 32 attributes to 4 factors. Cluster analysis grouped individuals into the 3 segments based on these factors. CHAID analysis further profiled each segment by modeling variables to predict outcomes and find typical characteristics of individuals in each segment.
This document discusses using consumer media consumption patterns to develop targeted integrated marketing communication plans. The author proposes segmenting consumers based on their different media usage and analyzing this to determine the optimal mix of advertising, PR, interactive and word-of-mouth methods for each segment. As a case study, a survey was conducted to identify segments for a new e-commerce company based on consumers' media habits and perceptions of online shopping. The segments identified from this data could then be used to develop customized messaging and placement in the appropriate media channels for each segment.
This document discusses the three pillars of an effective marketing campaign:
1. Strategic planning, which involves data analysis, segmentation, and goal-setting.
2. Campaign execution across multiple digital and offline channels to engage target audiences.
3. Monitoring and reporting on campaign performance to increase ROI and optimize future campaigns.
This document discusses the challenges that information professionals face when sourcing information products. It describes a complex process involving variables like uncertain budgets, competing Internet content, and non-transparent pricing structures. The document then introduces a seven-step strategic sourcing process from A.T. Kearney that information professionals can use to successfully source and renegotiate contracts for information products. The first step involves thoroughly profiling internal spending, user needs, and the external supply market.
Relationship Marketing and Impact of Technologypennyhumas
Developments in information technology and manufacturing technology have greatly impacted relationship marketing. Technology enables effective data storage and communication, which are necessary for relationship marketing strategies to be effective. Some key impacts of technology include enabling mass customization, reducing time to market for new products, facilitating loyalty programs and one-to-one marketing through customer data collection and analysis. Overall, information technology has strengthened relationship building capabilities but must be used effectively to provide value to customers.
MBA Projects, synopsis, and synopsis of various regular as well as distance learning undergraduate and postgraduate courses for various institutions like SMU – Sikkim Manipal University, SMUDE, AIMA, AMITY, IGNOU, SCDL, JAMIA, AMU, JHU etc.
How digital is impacting market strategyMANSI DHINGRA
This document provides a literature review and research report on how digital marketing is impacting marketing strategy. It includes an introduction, literature review covering past research on topics like digital marketing strategies, impact on consumer behavior, and importance of an integrated marketing approach. It also discusses the objectives, research methodology, data analysis, findings, limitations, and conclusions of the research project. The literature review finds that digital marketing has significantly altered the marketing landscape and companies must adapt their strategies to engage with consumers in new online and interactive ways.
Customer relationship management for continuing educationJ. Todd Bennett
This document discusses how implementing basic CRM principles can help continuing education programs with marketing and recruitment. It defines CRM as comprehensive processes and technologies for managing relationships with current and potential customers across marketing, sales and service. The goal is to optimize customer satisfaction, revenue and business efficiency through strong customer relationships. For continuing education, CRM involves understanding customer needs, developing programs to meet those needs, and communicating through the various stages of a customer's purchasing process from awareness to purchase. Key aspects of applying CRM include identifying customer segments, facilitating a positive customer experience, and moving customers through a marketing funnel with the goal of acquiring new customers.
CRM Implementation in Indian Telecom Industry – Evaluating the Effectiveness ...Waqas Tariq
With the liberalization and internationalization in telecommunication, service quality has become an important means of differentiation and path to achieve business success. Such differentiation based on service quality is seen as a key source of competitiveness for many Indian firms and hence have implications for leadership in such organizations. Faced with a growing market and increasing competition, companies in the telecom business are adopting to new technological imperatives in order to outperform their competitors. These companies adapt continuously to the dynamic environment so as to survive competition. The emphasis here lies in identifying critical value adding processes and redesigning them to become customer centric. One such approach in the adoption of an IT to move towards customers is the Customer Relationship Management (CRM). The Indian Mobile Service Providers are using CRM extensively to identify the needs of the customers and stretching out ways and means to satisfy them. In this context, it is absolutely essential to study the effectiveness of the CRM being practiced by the mobile service providers. This study specifically analyses the extent to which CRM is being practiced by the mobile service providers, and identifies the effect of the service quality of the mobile service providers on the Customer Loyalty. As CRM focuses on being customer centric, it becomes essential to measure the effectiveness of CRM in terms of the degree to which the customers are advocates of the mobile service provider as well as to measure the degree to which they participate in the cross selling and up selling of the various products and services of the provider. To evaluate the effectiveness, there are lots of quantitative techniques available and some work in this area has already been done. But there is a dearth of literature focusing on the relative efficiency. One advanced operations research technique which evaluates the relative efficiency is the Frontier Analysis or Data Envelopment Analysis (DEA). This paper attempts to use Data Envelopment Analysis to assess the effectiveness of Mobile Service Providers, specifically a set of the providers offering services in Chennai, Tamil Nadu, India. The research has identified a set of input and output parameters for each Service Provider, from which the efficient frontiers (DMUs) are determined. The relative efficiency of the Service Providers are measured with respect to the efficient frontier and then analyzed. Detailed recommendations are set forth, for appropriate interventions to address the specific gaps identified through the gaps analysis. The analysis further provides useful information and opens up new avenues for future research.
A study of Data Mining concepts used in Customer Relationship Management (CRM...IJSRD
Customer relationship management (CRM) has evolved as an approach based on generating positive relationships with customers, increasing customer loyalty, and expanding customer lifetime value [1]. To understand the needs of customers and providing value-added services are recognized as factors that regulate the success or failure of the organizations. In the recent years, technology enhancement made customer relationship easier in various fields such as marketing, sales, service and Management Information Technology [2]. To deliver customer value, there are concepts such as data mining and data warehousing with the use of technology. Even through data mining concepts, organizations can easily find out their valuable customers and helps in making better decisions. There are data mining tools which answer business questions that were time-consuming consuming in the past. These tools simplify these questions and make customer relationship management effective [3]. This researcher work is focused on understanding the consumer’s behavior for themed weddings. The themed weddings management strategies are based on technology, business and customer perspectives. The customer preferences are measured using Regency, Frequency and Monetary (RFM) method. Business strategies are defined to understand the customer preference towards themed weddings management and the technologies such as WEB 2.0 and data mining tool Weka are used. The survey technique, and thematic content analysis using data mining tools, to accomplish the goals of today’s customer relationship management philosophy for themed weddings management.
Customer Relationship Management (CRM) aims to create competitive advantage through understanding, communicating with, and developing relationships with existing and new customers. CRM has emerged as a buzzword with different meanings, from one-to-one marketing to call centers to technology solutions. Historically, merchants built businesses on trust and personalized relationships with customers, but industrialization separated manufacturers from customers. Now, CRM leverages advanced technology to maintain constant communication and meet rapidly changing customer demands.
Digital advertising is an essential part of marketing budgets and has seen growth in channels like mobile, social media, and video. The industry faces challenges from the evolving landscape with diversified channels and personalized strategies. To realize the full potential, enterprises must understand the importance of adapting faster through accelerated customer service strategies.
This document provides an overview of a project analyzing customer relationship management at Allergan India Ltd. The project was submitted in partial fulfillment of a post-graduate diploma in marketing management. It aims to provide an understanding of CRM and an overview of CRM characteristics and roles in various companies, with a focus on Allergan India. The document outlines the contents that will be covered in the project such as the importance of CRM, its implementation at Allergan, and the methodology used.
Customer Relationship Management and Banking Sector Market Share performanceinventionjournals
The influence of customer relationship management (CRM) on Nigeria banking sector market share performance is the focus of this study. It examined the influence of customer identification, customer retention and technology on customer relationship management and banks market share performance. The ever increasing competition and dynamics in the market place and the need for banks to survive, grow and meet the stakeholders objectives calls for a meaningful long lasting relationship between marketers and all other stakeholders in the organisation. The population of this study consists of all 617 headquarters employees of the 21 deposit money banks in Port Harcourt metropolis that is registered with Nigeria Deposit Insurance Corporation (NDIC); while the sample size of 243 determined through the Tara Yamani formula. Questionnaire was used as an instrument for primary data collection. The Spearman’s Rank Order Correlation was the statistical technique employed for hypothesis testing in the statistical package for social sciences (SPSS) version 17. The findings of this study revealed that there is significant relationship between customer identification, retention, and market share; while technology positively influence CRM and bank market share performance. Customer identification and retention are dimensions of CRM, while market share is the measure of performance, with technology as moderating variable influence between CRM as a measure of bank performance. It is therefore noted that banks will have better competitive advantage when all relevant stakeholders appreciate and demonstrate these customer relationship management strategies with a view of achieving the desired corporate objectives.
IBM Guide to Consumer Products Industry Technology TrendsTero Angeria
This guide provides a quick overview of what we believe manufacturers need to address within each of these
technological transformation areas and how IBM solutions can support that transformation.
IBM offers manufacturers the integrated solutions and services required to keep pace with today’s transformational business requirements. Based on the experiences and feedback from working with many leading consumer products clients around the globe, we have designed a portfolio of offerings that addresses the specific needs of consumer products companies from strategy and roadmap development to integrated software solution delivery all focused on using technology enablers to create new value across your enterprise.We help manufacturers deepen their relationships with their consumers, offer differentiated value to channel partners to generate competitive advantage, establish supply network improvements to increase efficiencies and achieve operational excellence—all for the express purpose of
supporting continued profitable growth.
The document discusses how cloud computing can provide benefits to consumer product companies by enabling faster responsiveness to changing business needs, higher consumer satisfaction, and lower operating costs. It notes that cloud computing allows flexible allocation of computing resources as needed and supports emerging analytics and innovation demands in a cost-effective way. The document highlights how IBM's cloud offerings like SAP on IBM Cloud can help run applications on shared computing resources to address waste from underutilized technology infrastructure.
The document discusses how cloud computing can provide benefits to consumer product companies by enabling faster responsiveness to changing business needs, higher consumer satisfaction, and lower operating costs. It notes that cloud computing addresses the waste of underutilized technology infrastructure by allowing computing capacity to be continuously adjusted and allocated efficiently. Cloud computing also provides the flexibility and cost-effectiveness required to meet emerging computing demands like analytics.
CCF provides near real-time insights into the customer experience and journey that previously could only be obtained through labor-intensive and time-consuming traditional research techniques. By applying predictive technologies to social data, SDL gives companies the means to better understand what customers care about, the reasons behind their actions, their attitudes and triggers for their behaviors, all of which can effectively translate audience experiences into strategic opportunities.
In the powerful scene of contemporary business, where purchaser conduct develops quickly and mechanical headways reshape the showcasing worldview, the job of a talented and versatile advertiser becomes foremost. In this steadily developing biological system, the capacity to upgrade techniques arises as an urgent feature for making supportable progress.Welcome to “Upgrade Technique: Your Optimal Advertiser,” where we leave on an excursion to investigate the nuanced workmanship and study of vital showcasing. In this investigation, we dive into the complex components of the stuff to be an optimal advertiser in the present serious field.
From understanding the complexities of customer brain science to outfitting the force of state-of-the-art innovations, the cutting-edge advertiser is entrusted with organizing an orchestra of procedures to drive commitment, encourage brand devotion, and eventually, impel business development. In the accompanying talk, we will explore the key components that characterize an optimal advertiser, investigating the significance of an essential outlook, capability in information examination, imagination in happy creation, and nimbleness in adjusting to showcase patterns.
Our goal is to give advertisers noteworthy bits of knowledge and systems that can empower them to streamline their procedures and assure pertinence and adequacy in an always-evolving climate. Go along with us in opening the key to turning into Your Ideal Advertiser as we disentangle the techniques, apparatuses, and outlooks that lead to outcomes in the unique universe of promoting. Whether you are an old pro trying to improve your abilities or a maturing advertiser anxious to cut a specialty in the business, this investigation means furnishing you with the information and devices to explore the intricacies of present-day showcasing with artfulness and resourcefulness.
Our Content Marketing Solution Study presents the insights, landscape and vendors within the content marketing space. Demand Metric defines content marketing as the strategies, processes and software technology that enable marketing departments to automate, measure and improve the performance of marketing strategies, activities and workflows.
These strategies and activities include: Email Marketing, Multi-channel Campaign Management, Inbound/Search Marketing, Landing Pages, Lead Generation, Lead Management, Lead Scoring, Lead Nurturing, Social Marketing, Marketing Resource Management, Event Management, Engagement Marketing and Marketing Analytics.
The three foundation functions of marketing automation systems are – email marketing, campaign management and lead management. While the most advanced and sophisticated marketing automation systems have extending capabilities far beyond this base, these functions are core to a Marketing Automation system.
This study covers the following sections:
- Executive Summary
- What is Content Marketing?
- Benefits of Content Marketing
- Content Marketing Deployment Lifecycle
- Vendor Selection Criteria
- Content Marketing Solutions Landscape
- Content Marketing Maturity Model
- Action Plan
- Analyst Bottom Line
- About the Research Analysts
- Our Solution Study Methodology
- About Demand Metric
To obtain this document, visit us at http://www.demandmetric.com/register
This document provides a summary of a research report on customer relationship management in the banking sector. It discusses:
1) How CRM has become important for retaining customers and maximizing their lifetime value in the competitive banking industry.
2) The methodologies used in the research project, including a literature review, survey questionnaire, and analysis of customer perceptions of banks' CRM strategies and technologies.
3) The objectives of examining CRM's impact on customer satisfaction and offering suggestions to improve banks' CRM practices.
1. The document discusses customer relationship management (CRM) in the banking sector. It notes that banks have shifted their focus from transaction volume to developing long-term customer relationships through personalized marketing, service, and products.
2. CRM allows banks to better understand their customers through collecting and analyzing customer data from various interactions. This helps banks provide customized service, retain existing customers, and cross-sell additional products.
3. Implementing an effective CRM strategy is important for banks to increase customer loyalty and lifetime value. Long-term customer relationships are beneficial for both customers and banks.
This document discusses shifting paradigms in strategic customer relationship management (SCRM). SCRM systems must do more than just track customer interactions - they must analyze information, spot trends, and enable sales forces. Next-generation SCRM integrates customer data throughout the entire organization, from sales and marketing to engineering and operations. It provides benefits like improved communication, identifying key accounts, and turning data into actionable insights. SCRM must be designed around collaboration and information sharing across departments to facilitate real-time customer insights. Today's approach to innovation and value creation is driven by customer co-creation and intimacy, requiring SCRM solutions to manage broader customer relationships and interactions.
Data Mining Concepts with Customer Relationship ManagementIJERA Editor
Data mining is important in creating a great experience at e-business. Data mining is the systematic way of extracting information from data. Many of the companies are developing an online internet presence to sell or promote their products and services. Most of the internet users are aware of on-line shopping concepts and techniques to own a product. The e-commerce landscape is the relation between customer relationship management (sales, marketing & support), internet and suppliers.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdf
Crm and techology
1. Technology Innovation and Implications for Customer Relationship Management
Author(s): Baohong Sun
Reviewed work(s):
Source: Marketing Science, Vol. 25, No. 6, 25th Anniversary Issue (Nov. - Dec., 2006), pp. 594-
597
Published by: INFORMS
Stable URL: http://www.jstor.org/stable/40057196 .
Accessed: 28/08/2012 07:17
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