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CRM first entered the business vocabulary in the early 90’s; initially as a systems driven technical solution. It has since escalated in importance as system providers increased their market penetration of the business market and, in parallel, CRM’s strategic importance gained more traction as it was recognized that CRM was, at its heart, a business model in the pursuit of sustainable profit. This was accentuated by the academic community stepping up their interest in the subject in the early 2000’s. Today, it is a universal business topic which has been re-engineered by the online shopping revolution in which the customer is firmly placed at the center of the business. The current reality, however, is that, for the vast majority of businesses, CRM has not been adopted as a business philosophy and practicing business model. It has not been fully understood and therefore fully embraced and properly implemented. The author addresses this head-on by stripping CRM down into its component parts by delving into and explaining the role and relevance of the C, R, and M in CRM. This is a practical guide but set within a strategic framework. The outage is clear actionable insights and how to convert them into delivery. It is written in an easily digestible, non-jargon style, with case studies to demonstrate how CRM works. This book can be immediately used as the primary practical reference to guide the development and implementation of a CRM strategy.
Customer relationship management (CRM) as a strategy and as a technology has gone through an amazing evolutionary journey. The initial technological approach was followed by many disappointing initiatives only to see the maturing of the underlying concepts and applications in recent years. Today, CRM represents a strategy, a set of tactics, and a technology that have become indispensible in the modern economy. This book presents an extensive treatment of the strategic and tactical aspects of customer relationship management as we know it today. It stresses developing an understanding of economic customer value as the guiding concept for marketing decisions. The goal of the book is to serve as a comprehensive and up-to-date learning companion for advanced undergraduate students, master's degree students, and executives who want a detailed and conceptually sound insight into the field of CRM.
This book presents an extensive discussion of the strategic and tactical aspects of customer relationship management as we know it today. It helps readers obtain a comprehensive grasp of CRM strategy, concepts and tools and provides all the necessary steps in managing profitable customer relationships. Throughout, the book stresses a clear understanding of economic customer value as the guiding concept for marketing decisions. Exhaustive case studies, mini cases and real-world illustrations under the title “CRM at Work” all ensure that the material is both highly accessible and applicable, and help to address key managerial issues, stimulate thinking, and encourage problem solving. The book is a comprehensive and up-to-date learning companion for advanced undergraduate students, master's degree students, and executives who want a detailed and conceptually sound insight into the field of CRM. The new edition provides an updated perspective on the latest research results and incorporates the impact of the digital transformation on the CRM domain.
When executives hear the term "customer relationship management" (CRM), they often break out in a cold sweat amid visions of six- or seven-figure implementations of staggeringly complex systems. But have no fear, you won't stumble over such looming obstacles in James G. Barnes's book. Rather he chooses an old-fashioned approach to CRM: actually building relationships with your customers. Barnes provides a variety of techniques to accomplish this basic task. Some of his suggestions are fresh and inspired, while others will sound pretty familiar to anyone in business. Either way, he documents them with his own thorough research and insightful accounts from other writers. Some readers will miss the nuts-and-bolts technical analysis that has come to define the modern concept of CRM, but getAbstract recommends this book to executives, marketing professionals and customer service managers who want to get back to traditional business values.
This title presents an holistic view of CRM, arguing that its essence concerns basic business strategy - developing and maintaining long-term, mutually beneficial relationships with strategically significant customers - rather than the operational tools which achieve these aims.
An ETHS graduate of 1962 provides a blueprint for customer relationship management in business and technical organizations.
Statistical Methods in Customer Relationship Management focuses on the quantitative and modeling aspects of customer management strategies that lead to future firm profitability, with emphasis on developing an understanding of Customer Relationship Management (CRM) models as the guiding concept for profitable customer management. To understand and explore the functioning of CRM models, this book traces the management strategies throughout a customer’s tenure with a firm. Furthermore, the book explores in detail CRM models for customer acquisition, customer retention, customer acquisition and retention, customer churn, and customer win back. Statistical Methods in Customer Relationship Management: Provides an overview of a CRM system, introducing key concepts and metrics needed to understand and implement these models. Focuses on five CRM models: customer acquisition, customer retention, customer churn, and customer win back with supporting case studies. Explores each model in detail, from investigating the need for CRM models to looking at the future of the models. Presents models and concepts that span across the introductory, advanced, and specialist levels. Academics and practitioners involved in the area of CRM as well as instructors of applied statistics and quantitative marketing courses will benefit from this book.
Social media has received considerable attention, and many potential benefits, as well as concerns, are now being discussed. This book explores how social media can successfully support business processes in marketing, sales and service in the context of customer relationship management (CRM). It presents the fundamentals of Social CRM and shows how small and large companies alike have implemented it. In turn, the book presents analytic and operational software tools that offer features for enhancing and streamlining interactions with customers. The book concludes with an overview of essential design areas that businesses need to bear in mind when introducing social media into their CRM strategies. In this regard, it also points out key success factors, limitations, and data protection aspects.
Companies and financial institutions are employing operational information systems in an efficient way. While they have consolidated a strong level of knowledge in management information systems, there is still a lack of knowledge on the right way to apply customer relationship management (CRM) systems under a business perspective. Most of the companies are still having problems in evaluating how CRM can meet with the expected results. The level of complexity is perceived both under a technological and organizational point of view. A complete innovation process and heavy change management initiatives should be ensured in order to have effective and successful systems. This book offers a solid theoretical and practical perspective on how to face CRM projects, describing the most appropriate technologies and organizational issues that have to be considered. Some explaining cases have been included as well.
To develop the long-term relationships necessary to survive the intense global competition of the modern era, businesses must strive to meet customers needs as never before. This book is a result of an extensive research project that studied new ideas in marketing, and how these strategies are being applied throughout the US and Europe. The case studies provided demonstrate the ability of effective CRM programmes to refine customer relationships and increase their value.