Content management systems
After reading the section in your textbook and watching the video above, answer the following:
- How does a CRM help you to identify your customers? How does a CRM inform your marketing efforts?
- How can you use the information gathered in a CRM to adjust your marketing campaigns for greater success?
- By having a CRM system in place you are able engage with your regular customers more effectively.
- SHARE OF CUSTOMER-An example of this would be you rewarding your regular customers, inform them of new products which in term could increase your businesses market share .You are able to identify customers who have brought products however for some reason have not returned to purchase again.
- LIFETIME VALUE OF THE CUSTOMER-Is the profit a company intends to make from a particular customer, including each and ever purchase they will make from the company now and in the future. You are far better off making long term relationships with your customers.
- CUSTOMER EQUITY-Companies compare the investments they make in acquiring customers, retaining customers & relationship enhancement with the financial return on those investments.
- A GREATER FOCUS ON HIGH VALUE CUSTOMERS customers can be prioritised and communications customised accordingly.It makes sense to use different types of communication contacts based on the value of each individual customer.
If you have a really great CRM in place it should work for you and not against you, by saving you time and money.
Appreciate you guys you are doing a really terrific job.
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