crm theory practice

7/29/2019 crm theory practice

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J. Todd Bennett, Managing Partner

decimal152 www.decimal152.com


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Learn the basics of Customer Relationship Management(CRM)

Discover how to position your organization for effective

CRM

Understand the role of technology in data collection andmarketing

Obtain simple tools to begin measuring the results ofyour marketing efforts


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The Basics of

Customer RelationshipManagement (CRM)


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Have more choices

than ever

Expect immediate, highquality, personalized 24-7service


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Are expectedto do

MORE

with thesame orFEWER

resources


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Plan, program,market, sell and

serviceSMARTER

With faster, better,

more personalizedservice?

GoodInformation


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KnowDo

Measure


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CRM is about

finding customers collecting info about them along the way

using that info to enhance their

experience and foster long-termrelationships


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Customer

Product/Program

offerings

Marketing, Sales,

Support

Technology


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What are their needs?

Do you offer programs/products in response to their

needs?

or your organizations

convenience?


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Source: OSAT


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Positioning YourOrganization for CRM


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Information flow

Customer contact

Decision-making


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Many organizations place customers in the hands ofentry-level staff who are

Poorly trained

Poorly paid

Lacking information to do their jobs


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No longer just a communication channel

Customers interacting with your site are

interacting with your business

Are the people creating your websites contentpoorly trained, poorly paid and lacking

information?


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How do we bridge thecustomer information

and interactions beingcollected on the frontlines with decision-making throughout theorganization?


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The Role of Technology in

CRM


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CRM is a philosophy that is

supported and enhancedby technology


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dotCMS has the power tobridge islands of information


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Before you worry about CRM, make sure yourwebsite:

Is easy and intuitive to navigate, with a focus oncustomers information and task needs

Provides up-to-date, well-written and accurate

information


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Present your potential customers with a seamlesswebsite experience.

Avoid multiple, disconnected sites

Avoid duplication of effort by integrating info fromother systems

Begin to bring everything you know about acustomer together in one view


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Customer account preferences andpersonalization of content

Customer self-service

Event management and registration

E-communications tools


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Customized catalogs and automatedfulfillment

Planning and tracking marketing campaigns

Promotions and discounts

Analytics and measurement

Evaluation and follow-up


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CRM, Marketing Strategy

and Measurement


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AWARENESS

PURCHASE

SHOPPING

INFO SEEKING

What do they know about you?

Will you be on their short list?

Consider the 4 Cs

Customer, cost, convenience,communication

How difficult do you make it?


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Stranger

Friend

Shopper

Customer

Loyal Customer

TraditionalMarketing Funnel

customers

shoppers

friends

strangers


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Prospects

Inquiries

Applicants

Admits

Matriculants

Alumni

Alumni

Event Attendees

Volunteers

Leaders

Prospects

Visitors

Members

Conference Attendees

Contributors


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Goal is to move people through the funnel

Success measured by conversion rate

# people at one stage/ # people at the prior Conversion rates higher as you move down May vary by segment, program, strategy,etc.

On avg 0.5% of strangers become customers


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Need to track over time to establish baseline.Technology can help here.

Start with educated guesses, refine with betterdata

Once you know your conversion rates, you can

better target your marketing strategies


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You need 20 attendees for an upcomingseminar.

Goal: Convert strangers to friends (getthem to visit your website

You plan to purchase a list and sendpostcards


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How many postcards do you need to send? If you have tracked past conversion rates, this is easy


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Convert the website visitors to shoppers

Offer with registration? An incentive for them to createan account or log-in? This is your opportunity to build a

customers profile.

Convert shoppers to customers

Follow-up with an email or phone call to seal the deal


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Conversion rate alone not the best measure ofsuccess


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A consistent, positive measure to compare success


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Starts with Market Research

What is your target market? Are there many?

What are people in each market segmentlooking for? (needs, preferences)

What do they know about you? How do theylearn about you?


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Identify market segments

Match your program offerings to markets

For each segment, develop specific strategies for eachstage of the funnel

Implement strategies, collect data, measure results

Take what you learned and refine


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Marketing plan is fluid

Programming/ products should meet the needs ofthe customers

Your past customers are your best futurecustomers

Your organization, programs, technology andstrategies should evolve

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