Which activities have you learned about from your reading?
I was just trying to get a idea of what the teacher is asking.Like share of customers,Are they asking what you would share with a customer?
Your text should break down the characteristics of a CRM plan into these parts:
1. share of customer (Is there something missing here?)
2. lifetime value of a customer
3. Customer equity or high-value customers.
Your text probably gives several examples for activities that an employee could follow for each of these characteristics.
describe at least three activities that represent each characteristic of a CRM plan; share of customer, lifetime value of a customer, customer equity or high-value customers.
Customer relationship Management (CRM):
Note that: CRM is made possible by the technological advances that integrate all stakeholders into a company’s product design and development, manufacturing, marketing, sales, and customer service process. CRM provides a highly extensive form of buying-selling interaction.
1) Share of customer-
Be concerned with building relationships with customers and try your best to satisfy what they need in a product or service. Customer satisfaction is the goal in CRM. Invest time, resources and effort in understanding and addressing the necessity of personalized relationship with the customers.
2) Lifetime value of a customer:
Use methods that engage the customers and make them interact with the company through direct marketing leveraging techniques, e.g., direct mailers, e-mail campaigns, live chat support, targeted web marketing, and other online customer buying behavior analysis. Have someone follow-up PERSONALLY to any SPECIFIC e-mail complaints, comments, suggestions to any email messages that customers send.
3) Customer equity or high-value customers:
Customer loyalty puts a company in a sustainable advantage over its competitors. Build and improve customer loyalty through the implementation of a variety of customer loyalty programs such as rewards program; frequent purchase cards; discount cards; membership program; creating a community through sponsorship in local running events, charity programs (e.g. health-condition related programs are recommended, such as: Breast Cancer Awareness, March of Dimes, Multiple Sclerosis Foundation; American Heart Association; and others, such as the American Red Cross. In the case of a local retail business, sponsoring specific local K-12 schools are great ideas (direct in-store advertising, as well as community coupon books). Additionally, also customers to have their phone numbers links to their "loyalty card" programs; so if they forget to bring their card, they can simply tell the cashier or punch in their associated phone number.