CHAPTER 11 : BUILDING A CUSTOMER-CENTRIC ORGANIZATION - (CRM) CUSTOMER RELATIONSHIP MANAGEMENT
(CRM)
CRM enables an organization to
- provide better customer service
- make call centers more efficient
- cross sell products more effectively
- helps sales staff close deals faster
- simplify marketing and sales processes
- discover new customers
- increase customer revenue
(RFM) regency, frequency and monetary value
an organization can find its most valuable customers by using a formula that industry insiders call RFM
- Regency: how recently a customer purchased items
- Frequency: how frequently a customer purchased items
- Monetary value: how much a customer speeds on each purchased
The evaluation of CRM
- CRM reporting technologies help organizations identify their customers across other applications
- CRM analysis technologies help organizations segment their customers into categories such as best and worst customers
- CRM predicting technologies help organizations predict customer behavior, such as customers at risk of leaving.
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