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MANAGING CUSTOMER RELATIONSHIPS by Mind Map: MANAGING CUSTOMER
RELATIONSHIPS
0.0 stars - reviews range from 0 to 5

MANAGING CUSTOMER RELATIONSHIPS

keep in mind: relationships can't be managed by a CRM-software - the software is only a part of CRM but in real life it's unfortunately often the only part

create must, should and nice to have requirements

using customer assessments of relationships to explain behaviour

cumulative satisfaction>satisfaction from recent events

when customer assessment reflects cognition it is difficult to predict customer retention

Challenges

customers revealing accurate/inaccurate information

carefull when using survey data

Creating value for customers

b2b relationship

most fruitful context for application of the principle of CRM

Value of customers to the firm

Customer Valuation

the revenue provided to the company less the company`s cost associated with maintaining a relationship with the customer

forcasting CLV by, customer acquisition, retention, gross margins

Forecasting Sources of CLV

estimates of the revenues sources of CLV should be broken down to the customer level rather than firm level

challenges

create database

segment based on customer needs and behaviour

forecast CLV

allocate resources

firm valuation

calculate the value of the firm's current and future customer base

managing sources of value

develop a good marketing strategy to get to know your customer behaviour

6 marketing decision variables

price

service quality programs

direct marketing promotions

relationship marketing

advertising communications

distribution channels

customer acquisition

customer retention

manage sources of value by acquiring & retaining the most valuable customers

the higher the satisfaction level and prices, the longer the relationships will be

IMPLEMENTATION OF CRM

involving employees and future users