University of Bern Faculty of Business and Social Sciences Institute of Marketing and Management (IMU) Management Department 1 2010-11-17 A Framework for.

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University of Bern Faculty of Business and Social Sciences Institute of Marketing and Management (IMU) Management Department A Framework for Customer Relationship Management (CRM) Katrina Goba Yanick Rossier Dorothea Maag Artemis Truffer Russell S. Winer Market Driven Organizations Fall 2010

Data Base How to create a database of furniture store clients? Data Analysis What does each customer deliver to the company in terms of profits? CRM Basic Model Data Base & Analysis Market Driven Organizations Fall

Customer Selection Segmentation-type analysis for most desired customer segment (e.g. highest purchasing rates or greatest brand loyalty) Descriptor variables (e.g. age, preferences or industry type) provide information for deploying the marketing tool Build customer-based profitability through “lifetime customer value” (LCV) Example: Targeting the Customer “1-to-1” marketing to build individual relationship with the customer (e.g. or SMS) Example: Customer Selection & Targeting 3

Relationship Marketing CUSTOMER RELATIONSHIP MANAGEMENT: SATISFACTION FREQUENCY / LOYALTY PROGRAMS CUSTOMIZATION COMMUNITY BUILDING REWARDS PROGRAMS CUSTOMER SERVICE Market Driven Organizations Fall

Privacy Issues & Metrics A CRM System takes adequate personal information for granted  May lead to privacy concerns Continuum of Privacy Concerns: (study by Forrester Research) “Simple irritation”  “Feelings of violation”  “Fear of harm”  “Nightmarish visions” 2 options to hold against privacy concerns:  “Opt-in”  “Opt-out” Metrics: Besides traditional metrics (profitability, market share…) CRM-based measures become more important (customer acquisition costs, retention/churn rates…) Market Driven Organizations Fall

The Future of CRM The implementation of successful CRM System remains a challenge! Key (future) Factors for a successful CRM  Split the marketing manager job into 2 parts: Acquisition & Retention  Engage a chief customer officer (CCO)  Move from CRM to Customer Experience Management (CEM) Market Driven Organizations Fall