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CRM (Customer Relationship Management) (In marketing)

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CRM (Customer Relationship Management) (In marketing)

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in marketing it refers to a way of thinking that prioritizes meeting the wants and needs of the customer, which guarantees efficient marketing and sales

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CRM (Customer Relationship Management) (In business)

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CRM (Customer Relationship Management) (In business)

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in business this term refers to an approach centered on creating long-term, mutually beneficial relationships with customers while embracing the most recent advancements in information processing technology to increase customer loyalty towards an enterprise/brand

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CRM (Customer Relationship Management) (In general)

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CRM (Customer Relationship Management) (In general)

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CRM is the way of how the company meets its clients' needs

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is basically a comprehensive program for automating the main business processes of an enterprise.

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Operational excellence - is the strategy based on providing a customer with a satisfactory quality product/service on a stable basis for a relatively cheap price example: McDonalds

Product leadership - is the strategy based on the leading position on the market. This strategy assumes the exclusivity and innovation of the company's products and intends to attract buyers with the help of these qualities. So to say "brand and reputation says louder than everything else"

example: Apple

Customer intimacy - is the strategy which concentrates on personal connection with each customer. They offer their clients to feel like part of the company and establish personal relationships with them.

example: almost every small cafeteria nearby your/someone's house

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is a is a framework that can assist in making sure that a service or product is positioned along with the needs and values of the client.

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is a strategic approach that involves ranking potential customers based on their potential value to the business.

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are indicators of activity. They numerically reflect the quality and result of actions over a certain period of time.

KPIs allow you to evaluate the performance of employees, business processes and the company as a whole.

Examples of KPIs for different areas:

for the sales department - achieving a certain sales volume

for a copywriter - the number of articles written or visitors attracted through content

!There is no list of KPIs. They are selected individually depending on the industry and characteristics of the enterprise.

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Up-selling - an offer of a similar product, but at a higher price. For example, it could be a product with better characteristics, a larger volume, or a more expensive brand.

Cross-selling - an offer to purchase goods in addition to the selected ones. In online stores, such sales are organized through the sections "You may be interested in", "People also bought this product". Sometimes companies put together sets with consumables or accessories - for such a purchase, the store can offer a discount. At points of sale, a consultant or cashier offers additional goods.

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Cross-channel communication - is the establishment of communications with users without being tied to a single profile through different communication channels: social networks, instant messengers, e-mail and others.

Cross-channel marketing - is a combination of multiple channels and promotion tools to "move customers smoothly down the sales funnel."

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is a concept that involves building long-term, continuous relationships with customers. From the initial point of contact to the conclusion of the commercial relationship, customers go through several stages. Every interaction that occurs between a customer and the business within the customer life cycle is categorized as an initiator for additional conversations and purchase procedures.

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is the customs and experience between the customer and the supplier, which includes product quality, service, logistics, etc.

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Transaction-based marketing - focuses on completing one specific transaction and making the customer buy the product once rather than buiding a long-term relationship.

Relationship-based marketing - on the opposite, focuses on building up a long-term relationship and saving a customer for a further interactions

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is the process of collecting and analyzing customer data to understand their preferences, needs, and motivations.