I know what you bought last summer - customer loyalty at retail

1,260 views

Published on

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

No Downloads
Views
Total views
1,260
On SlideShare
0
From Embeds
0
Number of Embeds
175
Actions
Shares
0
Downloads
0
Comments
0
Likes
3
Embeds 0
No embeds

No notes for slide

I know what you bought last summer - customer loyalty at retail

  1. 1. I know what you bought last summer. Customer loyalty at retail Dr. Stefan Winkler Invited talk @ TU Braunschweig wi2 Braunschweig, 1/15/2010
  2. 2. CRM in a nutshell   CRM is the sum of activities of a company that contribute to customer acquisition, advertising, sales and 2 customer support.   CRM aims at a long term customer retention while tapping the full potential of every individual customer. Dr. Stefan Winkler Braunschweig, 1/15/2010
  3. 3. We call it social media CRM 2.0 ...or so   Customer approach yesterday: Our products are the best! 3   Customer approach today: You are the best! Let‘s be friends! //bit.ly/Q00eh (Mashable) Dr. Stefan Winkler Braunschweig, 1/15/2010
  4. 4. 2.0 was yesterday: Nike 6.0   Open and personal presentation of the company 4   Choice ofcommunication channel is up to the customer //bit.ly/31oW0i (Blog) //bit.ly/7iGS6h (Twitter) //bit.ly/5mYNN7 (YouTube) //bit.ly/6sUL4M (flickr) Dr. Stefan Winkler Braunschweig, 1/15/2010
  5. 5. Christmas trees out! Customers in!   Variety of individual activities substitute or complement traditional advertising campaigns 5 //bit.ly/4uNx (IKEA Knut) //bit.ly/7JnCFJ (Commercial) Dr. Stefan Winkler Braunschweig, 1/15/2010
  6. 6. If everybody is doing it...   How much does it cost to join?   How much does it cost not to join? 6 If we want do it as well... ? Dr. Stefan Winkler Braunschweig, 1/15/2010
  7. 7. CRM cannot be done in 11 steps! Q.E.D.   SEI Information Technology: Seven critical steps to a successful CRM solution (bit.ly/7ArF7q) 7   Gartner: Eight Steps to Implementing a Successful CRM Project (bit.ly/86yZxc)   Kyle LaMalfa: Nine principles of excellence in CRM (bit.ly/7DPFa8)   Information Management: Ten steps to CRM success (bit.ly/80P8uj)   Ann Bednarz: Twelve steps to CRM success (bit.ly/5RJTrd) Dr. Stefan Winkler Braunschweig, 1/15/2010
  8. 8. Every start is ‘the goal’ #thinkaboutit #telluswhatyouthink   What are the goals ofthe introduction of 8 a customer loyalty program?   Which criteria can be used to determine the success of the program?   How can the criteria be measured? Dr. Stefan Winkler Braunschweig, 1/15/2010
  9. 9. First things first   Operational CRM: Automation of customer processes which support sales and customer service 9   Collaborative CRM: Target group specific approach of customers with the ability to directly interact   Analytical CRM: Analysis of customer data to identify characteristics, behaviors and potentials of customer segments Dr. Stefan Winkler Braunschweig, 1/15/2010
  10. 10. CRM at retail   Punch cards  Starbucks for free? (bit.ly/6emyXB) 10   Savings cards  Who’s gonna pay the bill? (bit.ly/4Ag3Pz)   Reward programs  Happy and not so happy digits (bit.ly/63rW)   Online-Profile  „Social Media CRM 2.0“? Dr. Stefan Winkler Braunschweig, 15.01.2010
  11. 11. Data explosion at retail   Point-of-sale and market basket information 11   Shipment-tracking information   Customer online profiles //bit.ly/4uGvLi (NY Times)   Census data   Customer data syndication   Social media profiles Dr. Stefan Winkler Braunschweig, 15.01.2010
  12. 12. The seal on the runway   The customer directly influences marketing and merchandising. 12   Data is collected at the stores, online and through mobile services. //bit.ly/8C8jbL (iRunway) //bit.ly/4GEhvH (Community) Dr. Stefan Winkler Braunschweig, 15.01.2010
  13. 13. Frequently made mistakes   #1: All customers are treated alike.   #2: Customer segmentation is only based 13 on frequency.   #3: Customer attention is decreasing while interaction and the number of loyalty programs are rising.   #4: Reward programs fail to generate incremental business. Dr. Stefan Winkler Braunschweig, 1/15/2010
  14. 14. RFM analysis   Recency: Who made the most recent purchases? 14   Frequency: Who made the most frequent purchases?   Monetary value: Who spent most? //bit.ly/6Y3JgJ (RFM Case Study) R F M most recent most frequent most valuable ... ... ... ... ... ... least recent least frequent least valuable Dr. Stefan Winkler Braunschweig, 15.01.2010
  15. 15. Watch out! How to approach customers? #thinkaboutit #telluswhatyouthink   Which customer segments should be 15 addressed?   What kind ofrewards will motivate customers to make additional purchases? Dr. Stefan Winkler Braunschweig, 1/15/2010
  16. 16. Dr. Stefan Winkler Blog: swinkler.info Twitter: follow_swinkler Xing: xing.swinkler.info LinkedIn: linkedin.swinkler.info

×