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5 Cards in this Set
- Front
- Back
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Customer relationship management (CRM)
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Involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization's profitability
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Fundamentals of CRM
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1. CRM as a business strategy
2. Business benefits of CRM 3. Evolution of CRM 4. Operational and analytical CRM |
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As a business strategy, CRM can enable an organization to:
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1. Identify types of customers
2. Design individual customer marketing campaigns 3. Treat each customer as an individual 4. Understand customer buying behaviors |
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Organizations can find their most valuable customers through..?
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“RFM” - Recency, Frequency, and Monetary value
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CRM Benefits
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1. Provide better customer service
2. Improve call center efficiency 3. Cross-sell products more effectively 4. Help sales staff close deals faster 5. Simplify marketing and sales processes 6. Discover new customer 7. Increase customer revenues |
