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Sunday, September 22, 2013


CHAPTER 11 : BUILDING A CUSTOMER-CENTRIC ORGANIZATION - (CRM) CUSTOMER RELATIONSHIP MANAGEMENT

(CRM)
CRM enables an organization to 
  1. provide better customer service
  2. make call centers more efficient
  3. cross sell products more effectively
  4. helps sales staff close deals faster
  5. simplify marketing and sales processes
  6. discover new customers
  7. 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
  1. Regency: how recently a customer purchased items 
  2. Frequency: how frequently a customer purchased items 
  3. Monetary value: how much a customer speeds on each purchased
The evaluation of CRM
  1. CRM reporting technologies help organizations identify their customers across other applications
  2. CRM analysis technologies help organizations segment their customers into categories such as best and worst customers
  3. CRM predicting technologies help organizations predict customer behavior, such as customers at risk of leaving.

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