INFS 247 Lecture Notes - Lecture 10: Customer Support, Customer Retention, Sales Management
19 Jun 2018
School
Department
Course
Professor
INFS Lecture 10
Customer Relationship Management (CRM)
Customer Relationship Management
oBusiness strategies and practices for managing and analyzing interactions with past,
present and future customers through the use of data and information technology
oCRM entails integration of
Sales management
Marketing
Customer service
CRM Objectives
oContinuously maintaining, enhancing, and improving relationships with customers
oGaining insight into the behavior of customers with the goal of:
Supporting customer retention
Driving sales growth and revenue
Spotting trends
Identifying new customers
CRM-related Data Collection
oStarbucks Gold
CRM Software Categories
oOperational CRM Software used for:
Customer Service Support
Marketing and Sales Support
Automation of customer service, sales and marketing
oOperational CRM Software parts
Standalone operational CRM system
Used for particular function
Integrated operational CRM system
Brings together current information about individual customers
from various sets of data
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Customer relationship management: business strategies and practices for managing and analyzing interactions with past, present and future customers through the use of data and information technology, crm entails integration of. Crm objectives: continuously maintaining, enhancing, and improving relationships with customers, gaining insight into the behavior of customers with the goal of: Crm software categories: operational crm software used for: Automation of customer service, sales and marketing: operational crm software parts. Brings together current information about individual customers from various sets of data. Supports crm daily operations with data that provides broader and more detailed view of customers: analytical crm software. Similar to integrated operational crm system, but larger time horizon. Can also contain data from additional internal and external sources. Emails, social media, polls, surveys : analytical crm software used for. Results serve to impact and improve operational crm procedures and systems. Examples of crm metrics and kpis: rfm a method for analyzing customer value (over a period of time)
