BBT2020 Strategic eCRM: Managing Customer Experience

Touchpoints = Interactions between a customer and a business at various stages of the customer journey Engagement = Level of involvement, interaction, attention, and emotional connection a customer has with a brand Outputs = Products, services, communications, etc. that are delivered by a business CX = Customer Experience - the overall perception a customer has of a brand based on interactions and experiences

CRM's influence on CX = The impact Customer Relationship Management has on shaping Customer Experience Customer portfolio management (CPM) = Strategy that offers unique value propositions to different customer segments for enhanced customer experience Differentiated CX across the portfolio = Tailoring customer experience to meet the specific needs and preferences of distinct customer groups Features of CRM applications that improve CX = Specific characteristics in CRM software that enhance the overall Customer Experience

Usability = Web-style interface with interactivity and high responsiveness for ease of use Flexibility = Ability to provide multiple options for executing processes, like hyperlinks, buttons, or screen tabs High performance system = CRM architecture that separates heavy load areas such as database and application servers for optimal system performance The End = Conclusion section of the text

<p>Salesforce Journey builder = Customer journey mapping Smaply = Customer experience design Touchpoint = Customer engagement analysis Canvanizer = Business model visualization</p> Signup and view all the answers

<p>Customer Acquisition = The stage where new customers are attracted to the company or brand Customer Retention = The stage focused on keeping existing customers loyal and satisfied Customer Development = The stage involving upselling and cross-selling to maximize customer value Customer Experience = The overall impression customers have throughout their interactions with the company</p> Signup and view all the answers

<p>Websites = Online platform where customers interact with company information and services Service centers = Physical locations where customers can seek assistance or support Calls from and to contact centers = Telephonic communication channels for customer inquiries and feedback Retail stores = Physical outlets where products are sold directly to customers</p> Signup and view all the answers

<p>eCustomer Relationship Management (eCRM) = Managing customer relationships through online channels and interactions Strategic CRM = Using CRM tools to achieve profit or commercial objectives throughout the customer journey Customer Journey = Representation of stages that customers go through in their relationship with a company or brand Touchpoints = Various channels and points of interaction between customers and the company</p> Signup and view all the answers

<p>Customer Acquisition = Attracting new customers to the company or brand Customer Retention = Keeping existing customers satisfied and loyal Customer Development = Maximizing customer value through additional sales opportunities Customer Experience = Ensuring a positive overall impression during customer interactions</p> Signup and view all the answers

<p>CRM Tools = Enhancing efficiency in managing customer relationships and interactions Business Model Visualization = Providing a clear understanding of how the company creates value for customers Customer Engagement Analysis = Insights into how customers interact with touchpoints and brand offerings Customer Journey Mapping = Visual representation of the stages customers go through in their relationship with the company</p> Signup and view all the answers

<p>How many customers are acquired = Quantifies the total number of new customers obtained What is the value of the acquired customer over the longer term = Measures the long-term monetary worth of each acquired customer What is the cost per acquired customer? = Calculates the expense incurred to acquire each new customer</p> Signup and view all the answers

<p>Lead management = Includes lead generation, lead qualification, lead allocation, lead nurturing, and lead tracking Campaign management = Involves single medium, multimedia, or omni-media campaigns using various platforms like direct mail, email, social media, outbound telephony, and SMS CRM analytics = Underpins the success of lead and campaign management applications</p> Signup and view all the answers

<p>The volume and value of purchasing increases = Results in higher frequency and monetary value of purchases Referrals increase = Leads to more recommendations from existing customers Customer management costs fall = Reduces expenses related to customer support and service Customers less price sensitive (willingness-to-pay) = Makes customers more willing to pay higher prices for products or services</p> Signup and view all the answers

<p>Build customer engagement = Create interactive relationships through social media and engaging content to keep customers connected Understand and meet customer expectations = Align communication, online content, and sales behavior to support and exceed customer expectations Add customer-perceived value = Implement loyalty schemes, customer clubs, and sales promotions to enhance perceived value for customers Create social and structural bonds = Establish trust and commitment-based connections with customers</p> Signup and view all the answers

<p>Cross-selling = Selling additional products or services to an existing customer Up-selling = Promoting higher priced or higher margin products/services to an existing customer</p> Signup and view all the answers

<p>Campaign management to up-sell and cross-sell = Utilized for promoting additional products/services to existing customers Data mining (provides data on propensity-to-buy) = Offers insights into customers' likelihood to make a purchase Event-based marketing = Engages customers through targeted marketing events Customization (personalized communication) = Tailors communication for individual customers to enhance engagement</p> Signup and view all the answers