Introduction In defining CRM strategy in chapter one, we said that any organisation that desires to be customer-centred must have a laid down plan on how they want to achieve their objectives. In this article, we will be talking about those things that needs to be present in any CRM strategy before…
In my previous article, I looked at all that you need to know about customer strategy in CRM. In this article, I want to look at all that you need to know about customer care in CRM. Follow me as we are going to look at this together in this article. When we…
In my previous article, I looked at some of the drivers of customer relationship management. In this article, I want to look at some of the components of a customer relationship management strategy. Follow me as we look at that together in this article. In defining Customer Relationship Management Strategy, we said that any…
In my previous article, I talked about all that you need to know about customer relationship management. In this article, I want to talk about some of the major drivers of CRM. Follow me as we are going to look at that together in this article. The word “driver” is not strange to some…
I know that CRM or CRM Initiatives is a buzzword. Almost every organisation wants people to know them as being customer centred. In this article, I want to look at three main focuses of any CRM initiative. Follow me as we are going to look at that exclusively in this article. The sweet fruit…
Many CRM definitions focus on the importance of knowing your customer and acting on that knowledge. Putting this principle into practice is where the complexity lies. In this article, I want to introduce you to Samson, a sophisticated but demanding customer, and his bank, a CRM-savvy organization that has embraced the principles of…
In my previous article, I talked about Samson and some of the mistakes that the bank made that made them lose Samson as a customer. In this article, I want to expose five main reasons why organisations keep losing customers. I will also do this using the Samson example as I did in my previous…
In my past articles, I have always been using the story of Samson and the bank. I have explained how he was treated harshly and the steps that he took after that. In this article, I want to look at how to excite informal Customers effectively. What do I mean by informal…
It has much to do with talking to your customers and customers talking to you and among one another about your products and services. Many at times organisations have put mechanisms and technologies in place that allow the customers to relate with organisations; ask questions and make suggestions. If this is well utilized….
At the end of this article , readers should be able to understand: Who a customer is, What it means to treat customers like a king The act of knowing your customers and the relationship that they keep can help an organisation to retain its customers for life. Let us first clarify…
When we talk about dimensions of customer service, it is a concept that helps us to understand that customers rate the level of services been provided by any organisation in two dimensions. We are going to take a closer look at these dimensions in order to have a good grasp of it. …
When we talk of touchpoints, we are talking about different ways through which customers can have access to an organization. In many forward-looking organizations, today gone are those days when customers cannot have access to their accounts or transact business with an organization unless they physically enter the branch offices or relate with…
A Customer-Centric Enterprise (CCE) is an organisation that has resolved to do business from the customers’ perspective. In this kind of organisation, profit is not their main motive of establishing a business, they first resolve to satisfy customers’ needs which will, in turn, generate profits more than they expected. A Customer-Centric Enterprise (CCE)…
At the end of this article, readers should be able to: · Know what customer-centric enterprises are.; · The characteristics of CCEs.; · Customers’ perspective of CCEs; · Functions that CCEs are meant to play; and · Differences between Customer-Centric and Product-Centric Enterprises. OBJECTIVES OF THIS ARTICLE Before…
As an organisation moves from a product-centric enterprise to a customer-centric one, there are some basic things that will begin to change about the organisation, we want to look at this under four main headings, which are: Pricing capabilities Product quality capabilities iii. Marketing and sales capabilities Customer service capabilities Pricing…
The Concept This is the simplest way of explaining the way by which an organisation whether product or customer-centred interacts with its customers and prospects. It explains the process that a customer or prospect passes through before deciding to purchase or use a particular product or service. Understanding the customer Life Cycle will help…
Customer Lifetime Value (CLV) can be seen as the expected financial benefit from customer retention investment to build customer loyalty, Simply, it is the total amount that you expect your customers to spend on your product throughout their lifetime. Definition Customer Lifetime Value (CLV) can be seen as the expected financial benefit from…
A Customer Value Proposition (CVP) consists of the sum total of benefits that a vendor promises a customer will receive in return for the customer’s associated payment or other value transfer. Customer Value Management was started by Ray Kordupleski in the 1980s and discussed in his book Mastering Customer Value Management. …
Definition When we talk about lead which is sometimes referred to as prospects, they are people that are likely to be interested in your products or services. They are the set of people that will finally become your customers. Definition When we talk about lead which is sometimes referred to as prospects,…
Opportunity Management In CRM: How To Manage Customers Who Are Willing Some Interesting Topics For you Facts About Customer Life Cycle Facts about Customer Value Proposition Facts About Wallet Share In CRM. At the end of this article, readers should be able to: · Define Opportunity management · Know things that are…