CRM: WEEK 4 (1/30 – 2/3) Last Week Highlights:

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Presentation transcript:

CRM: WEEK 4 (1/30 – 2/3) Last Week Highlights: Define and Leverage Relationship Learning Building Trust Based Relationships IDIC Model Identify Differentiate Interact Customize Life Time Value of A Customer (LTV) Identifying most valuable customers RFM – recency, frequentcy, monetary Operational vs. Analytical CRM definition Marketing Automation

CRM: WEEK 4 (1/30 – 2/3) Monday (1/30) Objectives: Review Identification Activities Data Needed Differentiating Customers Based on Value Future Oriented Convergys Case Managing Mix of Customers

CRM: WEEK 4 (1/30 – 2/3) Monday (1/30) Objectives: Review Identification Activities Customer data already collected Get customers to identify themselves BTB vs. BTC Data Needed Behavioral – matched with promo events Attitudinal - AIO Demographic – life stages

CRM: WEEK 4 (1/30 – 2/3) Monday (1/30) Objectives: Differentiating Customers Based on Value – current vs. potential Future Oriented – LTV Convergys Case – life stages Managing Mix of Customers

CRM: WEEK 4 (1/30 – 2/3) Wednesday (2/1) Objectives: Differentiating Customers Based on Needs Leveraging Needs Differentiation to Build Customer Value Case Analysis Process Read Three Times Case Brief Components

CRM: WEEK 4 (1/30 – 2/3) Wednesday (2/1) Objectives: Differentiating Customers Based on Needs Needs segmentation versus demographic VALS Leveraging Needs Differentiation to Build Customer Value Customer portfolio: similar needs (demographic profile) Monitor behavior relative to needs Best Face Foreward

CRM: WEEK 4 (1/30 – 2/3) Case Analysis Process Read Three Times First: Quick read to determine key issues in case and gain overall understanding of contest: sketch out problems/issues facing management Second: Detailed read to find relevant information to problems/issues and begin contemplating recommendations: revise problems/issues as needed, jot down relevant background, alternatives and final recommendation Third: Quick read to determine the “fit” of your recommendations Case Brief Components: (see handout)

CRM: WEEK 4 (1/30 – 2/3) Friday (2/3) Objectives: NO CLASS FRIDAY (2/3)