Customer Relationship Management
Customer relationship management (CRM) is one of the hot topics in marketing and information systems today. The concept aims to assemble pertinent information about customers’ buying history and background information such as demographics. The information is used to better manage customer enquiries or complaints, and design customised offerings – another hot topic one to one marketing.
Many companies with large, established customer bases are interested in CRM as a way to stop customer defection. For example if front-line staff can see from a database record that the customer speaking to them is classified as 'vulnerable', or 'likely to defect' then they can try even harder to ensure the query is handled well.
In order to realise the CRM dream internal data is not sufficient. The company will also need survey data to fully understand their customer's needs, opinions, and probable future behaviour. The Ehrenberg-Bass Institute can design and carry out research projects to gather the information necessary for CRM projects. We also have the experience and knowledge to calculate what the most important 'leading indicators' of customer defection are in your industry.
Please email Elke.Seretis@MarketingScience.info for further information on any aspect of Customer Relationship Management.