24205 Lecture Notes - Lecture 9: Leaky Bucket, Lead Generation
Document Summary
Gaining and retaining customers: building growth from five revenue sources. Important to know where growth comes from (e. g. cross selling) Gross share gain: take business from your competitors. Market positioning: show up where growth is already occurring. New lines of business: invest in unrelated new bs: crm integrated elements. Strategy (target customers, how to create and deliver value) Capabilities (accessible customer info log narratives of customers) Technology (needed to manage crm customer management tools) Level 4: seamless approach (banks high level of customer intimacy) Organisation (bs process-org. must be aligned to customer satisfaction) Level 3: channel linkages (credit card companies: retaining customers. It takes 5 times more effort/cost to gain one new customer. Strong customer relationships have grown increasingly vital to companies striving for competitive advantage. Existing customers are more loyal and can cross sell to them. Keeping customers leads to less operating/advertising costs. Leaky bucket theory (poor customer support leads to leakage: misunderstandings between sales and marketing.
