Customer Relationship Management: A powerful tool for attracting and retaining customers
By 50minutes
3.5/5
()
About this ebook
Customer relationship management is a valuable tool in an increasingly competitive business world. It allows companies to find out who their customers are and what they want, which enables them to tailor their communication and offers to their clients. No matter what your sector of activity, an effective CRM strategy will boost customer satisfaction, increase performance and give you a valuable edge over the competition.
In 50 minutes you will be able to:
• Understand the wide range of tools and techniques used in customer relationship management
• Tailor your communications to your customers’ needs and expectations
• Evaluate the success of your CRM strategy based on a number of key performance indicators
ABOUT 50MINUTES.COM | MANAGEMENT AND MARKETING
The Management and Marketing series from the 50Minutes collection provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications will give you elements of theory, definitions of key terms and case studies in a clear and easily digestible format, making them the ideal starting point for readers looking to develop their skills and expertise.
Read more from 50minutes
Yoga for Beginners: Simple techniques to boost your wellbeing Rating: 0 out of 5 stars0 ratingsTransactional Analysis: A valuable tool for understanding yourself and others Rating: 3 out of 5 stars3/5The Six-Day War: The Conflict that Re-Shaped the Middle East Rating: 0 out of 5 stars0 ratingsAlbert Camus: Existentialism, the Absurd and rebellion Rating: 5 out of 5 stars5/5The United Nations: The Organisation at the Heart of International Diplomacy Rating: 5 out of 5 stars5/5Opus Dei: The Secrets and Scandals of an Influential Organisation Rating: 0 out of 5 stars0 ratingsThe Yom Kippur War: The Arab-Israeli Conflict of 1973 Rating: 0 out of 5 stars0 ratingsThe Trojan War: A legendary conflict in Ancient Greece Rating: 0 out of 5 stars0 ratingsThe Eruption of Vesuvius: The Deadly Disaster of Pompeii Rating: 5 out of 5 stars5/5Mindfulness: The secrets to inner peace and harmony Rating: 0 out of 5 stars0 ratingsThe Battle of Thermopylae: The Heroic Fall of Leonidas I and the 300 Spartans Rating: 5 out of 5 stars5/5Henry Ford: Mass Production and the Model T Rating: 0 out of 5 stars0 ratingsMagellan: The First Circumnavigation of the Globe Rating: 0 out of 5 stars0 ratingsLearn to Love Yourself: Practical steps to build confidence and self-esteem Rating: 0 out of 5 stars0 ratingsThe Battle of Tours: The Turning Point in the Struggle Against Islam Rating: 0 out of 5 stars0 ratingsGeorges Lemaître: The Big Bang Theory and the Origins of Our Universe Rating: 5 out of 5 stars5/5Isaac Newton: A Giant of Modern Science Rating: 0 out of 5 stars0 ratingsThe Battle of Lepanto: The Brutal Defeat of the Ottoman Empire Rating: 0 out of 5 stars0 ratingsWinston Churchill: Britain’s Legendary Wartime Leader Rating: 0 out of 5 stars0 ratingsThe Chernobyl Disaster: The Nuclear Catastrophe and its Devastating Effects Rating: 0 out of 5 stars0 ratingsGeorge Washington: The Founding Father of the US Constitution Rating: 4 out of 5 stars4/5The Battle of Verdun: The Horror of Trench Warfare Rating: 0 out of 5 stars0 ratingsWorld War I: Part Three: 1918: The Outcome Rating: 0 out of 5 stars0 ratingsThe Watergate Scandal: The conspiracy that brought down Nixon Rating: 0 out of 5 stars0 ratingsAlbert Einstein: The Genius who Changed the Face of Physics Rating: 1 out of 5 stars1/5Neil Armstrong: The Success of Apollo 11 and the First Man on the Moon Rating: 0 out of 5 stars0 ratingsTito: The Marshal of Yugoslavia Rating: 4 out of 5 stars4/5
Related to Customer Relationship Management
Titles in the series (32)
Maslow's Hierarchy of Needs: Gain vital insights into how to motivate people Rating: 5 out of 5 stars5/5The Competitive Power of the Product Lifecycle: Revolutionise the way you sell your products Rating: 0 out of 5 stars0 ratingsThe Greiner Growth Model: Anticipate crises and adapt to a changing business world Rating: 0 out of 5 stars0 ratingsPorter's Five Forces: Understand competitive forces and stay ahead of the competition Rating: 4 out of 5 stars4/5Ishikawa Diagram: Anticipate and solve problems within your business Rating: 5 out of 5 stars5/5Game Theory: The art of thinking strategically Rating: 3 out of 5 stars3/5The Marketing Mix: Master the 4 Ps of marketing Rating: 5 out of 5 stars5/5The Theory of Comparative Advantage: Why specialisation is the key to success Rating: 0 out of 5 stars0 ratingsGestalt Psychology for Marketing and Leadership: Influence customer perceptions and make your advertising more memorable Rating: 0 out of 5 stars0 ratingsManagement by Objectives: Get the best out of your employees Rating: 0 out of 5 stars0 ratingsThe BCG Growth-Share Matrix: Theory and Applications: The key to portfolio management Rating: 2 out of 5 stars2/5Michael Porter's Value Chain: Unlock your company's competitive advantage Rating: 4 out of 5 stars4/5The Law of Diminishing Returns: Theory and Applications: Understand the fundamentals of economic productivity Rating: 0 out of 5 stars0 ratingsThe Six Sigma Method: Boost quality and consistency in your business Rating: 3 out of 5 stars3/5Pareto's Principle: Expand your business with the 80/20 rule Rating: 5 out of 5 stars5/5Freemium: Attract more customers and boost your sales Rating: 0 out of 5 stars0 ratingsBusiness Plan Checklist: Plan your way to business success Rating: 5 out of 5 stars5/5McKinsey 7S Framework: Boost business performance, prepare for change and implement effective strategies Rating: 4 out of 5 stars4/5Capital Asset Pricing Model: Make smart investment decisions to build a strong portfolio Rating: 4 out of 5 stars4/5The SWOT Analysis: A key tool for developing your business strategy Rating: 4 out of 5 stars4/5The Peter Principle: Say NO! to incompetence at work Rating: 4 out of 5 stars4/5SMART Criteria: Become more successful by setting better goals Rating: 5 out of 5 stars5/5The Balanced Scorecard: Turn your data into a roadmap to success Rating: 4 out of 5 stars4/5The Long Tail Theory for Business: Find your niche and future-proof your business Rating: 0 out of 5 stars0 ratingsPESTLE Analysis: Understand and plan for your business environment Rating: 4 out of 5 stars4/5Parkinson's Law: Master time management and increase productivity Rating: 0 out of 5 stars0 ratingsImprove Your Business Through Kaizen: Boost your results with continuous improvement Rating: 4 out of 5 stars4/5Value Stream Mapping: Reduce waste and maximise efficiency Rating: 4 out of 5 stars4/5Customer Relationship Management: A powerful tool for attracting and retaining customers Rating: 4 out of 5 stars4/5
Related ebooks
Customer Relationship Rating: 0 out of 5 stars0 ratingsThe Business Model Canvas: Let your business thrive with this simple model Rating: 4 out of 5 stars4/5Digital Marketing Essentials You Always Wanted to Know Rating: 0 out of 5 stars0 ratingsCrm in Action: Maximizing Value Through Market Segmentation, Product Differentiation & Customer Retention Rating: 5 out of 5 stars5/5Marketing Management Essentials You Always Wanted To Know (Second Edition) Rating: 0 out of 5 stars0 ratingsSales and Distribution Management Rating: 5 out of 5 stars5/5What Is Customer Lifecycle Management Rating: 3 out of 5 stars3/5Reimagine Customer Success: Designing Organizations Around Customer Value Rating: 0 out of 5 stars0 ratingsCustomer Relationship Marketing Rating: 0 out of 5 stars0 ratingsHow To Successfully Implement CRM Technology Rating: 5 out of 5 stars5/5The Marketing Mix: Master the 4 Ps of marketing Rating: 5 out of 5 stars5/5The Competitive Power of the Product Lifecycle: Revolutionise the way you sell your products Rating: 0 out of 5 stars0 ratingsCRM: Redefining Customer Relationship Management Rating: 4 out of 5 stars4/5Michael Porter's Value Chain: Unlock your company's competitive advantage Rating: 4 out of 5 stars4/5The BCG Growth-Share Matrix: Theory and Applications: The key to portfolio management Rating: 2 out of 5 stars2/5Customer relationship management Complete Self-Assessment Guide Rating: 0 out of 5 stars0 ratingsImprove Your Business Through Kaizen: Boost your results with continuous improvement Rating: 4 out of 5 stars4/5Benchmarking for Businesses: Measure and improve your company's performance Rating: 0 out of 5 stars0 ratingsConnected CRM: Implementing a Data-Driven, Customer-Centric Business Strategy Rating: 0 out of 5 stars0 ratingsThe Greiner Growth Model: Anticipate crises and adapt to a changing business world Rating: 0 out of 5 stars0 ratingsThe Balanced Scorecard: Turn your data into a roadmap to success Rating: 4 out of 5 stars4/5The Six Sigma Method: Boost quality and consistency in your business Rating: 3 out of 5 stars3/5PESTLE Analysis: Understand and plan for your business environment Rating: 4 out of 5 stars4/5The Long Tail Theory for Business: Find your niche and future-proof your business Rating: 0 out of 5 stars0 ratingsValue Stream Mapping: Reduce waste and maximise efficiency Rating: 4 out of 5 stars4/5Gestalt Psychology for Marketing and Leadership: Influence customer perceptions and make your advertising more memorable Rating: 0 out of 5 stars0 ratingsService Profit Chain Rating: 0 out of 5 stars0 ratingsThe SWOT Analysis: A key tool for developing your business strategy Rating: 4 out of 5 stars4/5Pareto's Principle: Expand your business with the 80/20 rule Rating: 5 out of 5 stars5/5The Fundamentals of Business-to-Business Sales & Marketing Rating: 5 out of 5 stars5/5
Business Communication For You
Robert's Rules Of Order Rating: 5 out of 5 stars5/5Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5You're Not Listening: What You're Missing and Why It Matters Rating: 4 out of 5 stars4/5Collaborating with the Enemy: How to Work with People You Don’t Agree with or Like or Trust Rating: 4 out of 5 stars4/5Never Split the Difference: Negotiating As If Your Life Depended On It Rating: 4 out of 5 stars4/5On Writing Well, 30th Anniversary Edition: An Informal Guide to Writing Nonfiction Rating: 4 out of 5 stars4/5Get to the Point!: Sharpen Your Message and Make Your Words Matter Rating: 5 out of 5 stars5/5Just Listen: Discover the Secret to Getting Through to Absolutely Anyone Rating: 4 out of 5 stars4/5How to Talk to Anyone: 27 Ways to Charm, Banter, Attract, & Captivate Rating: 4 out of 5 stars4/5You Can Negotiate Anything: The Groundbreaking Original Guide to Negotiation Rating: 4 out of 5 stars4/5It's the Way You Say It: Becoming Articulate, Well-spoken, and Clear Rating: 4 out of 5 stars4/5Liespotting: Proven Techniques to Detect Deception Rating: 4 out of 5 stars4/5How To Start A Conversation And Make Friends: Revised And Updated Rating: 4 out of 5 stars4/5Communicating at Work Rating: 3 out of 5 stars3/5How to Win Friends and Influence People in the Digital Age Rating: 4 out of 5 stars4/5Storyworthy: Engage, Teach, Persuade, and Change Your Life through the Power of Storytelling Rating: 5 out of 5 stars5/5The First-Time Manager Rating: 3 out of 5 stars3/5Personal Finance for Beginners - A Simple Guide to Take Control of Your Financial Situation Rating: 5 out of 5 stars5/52600 Phrases for Effective Performance Reviews: Ready-to-Use Words and Phrases That Really Get Results Rating: 3 out of 5 stars3/5Superfans: The Easy Way to Stand Out, Grow Your Tribe, And Build a Successful Business Rating: 5 out of 5 stars5/5Emotional Intelligence 2.0 by Travis Bradberry and Jean Greaves: Cheat Sheet Rating: 4 out of 5 stars4/5Talk Like TED: The 9 Public-Speaking Secrets of the World's Top Minds Rating: 4 out of 5 stars4/5How to Win Friends and Influence People by Dale Carnegie: Summary and Analysis Rating: 5 out of 5 stars5/5The First Minute: How to start conversations that get results Rating: 5 out of 5 stars5/5
Reviews for Customer Relationship Management
3 ratings0 reviews
Book preview
Customer Relationship Management - 50minutes
Name: customer relationship management (CRM).
Uses: CRM is used in businesses and aims to optimise customer service, develop the sales force and provide statistical and customer monitoring tools for the purpose of marketing and data management.
Why is it successful? CRM allows companies to improve the quality of customer relationships, personalise their offers, monitor relationships, identify opportunities and implement multichannel communication while reducing their effort (in spite of the large number of clients and prospects to manage) and guaranteeing the transmission of client knowledge within the organisation.
Key words:
Attrition: the loss of customers over a given period, measured through the attrition rate; the opposite of retention, which corresponds to the rate of clients conserved over a given period.
Customer lifetime value: a prediction of the net profit value expected from a client throughout the entire duration of their relationship with the company.
Customer segmentation: the division and classification of customers into homogenous, distinct, profitable and reachable groups.
Data mining: all the statistical analysis tools and practices that use data, in particular customer data, to find significant information that can be used to develop marketing campaigns and other activities.
Front office: unlike the back office, which is not visible to customers, the front office encompasses all the human and material resources in direct contact with the client.
Key performances indicators (KPIs): key performance indicators are used by management and provide indications about performance and efficiency which measure the results of an activity such as, for example, a marketing campaign.
Loyalty marketing: all the actions needed to stimulate and maintain