Dirkjan: Created page with "Customer relationship management consists of four elements: * '''Customer..."

2020-08-25T07:14:01Z

Created page with "Customer relationship management consists of four elements: <html> <img src="/static/files/MBI/Module%208/customerrelationshipmanagement.PNG" width=400> </html> * '''Customer..."

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Customer relationship management consists of four elements:
<html>
<img src="/static/files/MBI/Module%208/customerrelationshipmanagement.PNG" width=400>
</html>

* '''Customer selection'''
** What criteria determine who will be our most profitable customer?
** This refers to customer segment targeting which is addressed in [[Market Segmentation|Market Segmentation]].
* '''Customer acquisition'''
** How can we acquire this customer in the most efficient and effective way?
** Includes promotions
** Includes incentives like
*** Acquire new customers
*** Entice existing customers to use the company's internet based offering.
* '''Customer retention'''
** How can we keep this customer for as long as possible?
** Customer retention aims at:
*** Turning one time customers into repeat-purchase customers
*** Keeping customers for as long as possible in the online channel
* '''Customer extension'''
** How can we increase the loyalty and the profitability of this customer?
** Maximize the life time value for a customer. Companies achieve this by expanding scope through [[Cross selling|Cross selling]].
[[Category:businessmodelling]]

[[Category:Business]]

[[Category:M8]]

[[Category:Modeling]]

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Customer relationship management - Revision history

Dirkjan: Created page with "Customer relationship management consists of four elements: * '''Customer..."