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Relationship Management 10.

1
Information Systems
Retailing Strategy
Retail Market Strategy
Financial Strategy Site Location
Retail Locations
Organizational Structure and
HR Management
Customer Relationship
Management
customer-centric retailing
Relationship Management 10.2
Customer Relationship
Management
A business philosophy and set of strategies,
programs, and systems that focus on
identifying and building loyalty with a
retailers most valuable customers.

What is loyalty?
Liking a retailer?
Frequently shopping a retailer?
Relationship Management 10.3
A Loyal Customer . . .
Is committed to purchasing merchandise
and services from a retailer
Resists efforts of competitors to attract the
loyal customer
Has an emotional attachment to retailer
Personal attention
Memorable positive experiences
Brand building communications programs
Relationship Management 10.4
CRM Process
Collect
Customer
Data
Develop
CRM
Programs
Analyze
Customer Data
& Identify
Target Customers
Learning
Implement
CRM
Programs
Action
Relationship Management 10.5
What Customer Data to Collect?
Data Mining technique
used to identify patterns in
data
Market Basket Analysis
Identifying Market
Segments
Identifying Best
Customers
Relationship Management 10.6
Collecting Customer Data
Types of Information in the Customer
Database
Approaches for Collecting Information
Privacy Concerns
Relationship Management 10.7
Information About Each
Customer in the Database
History of purchases
Purchase date, price paid, SKUs bought, whether or not
the purchase was stimulated by a promotion
Customer contacts by retailer (touch points)
Visits to web site, inquires to call center, direct mail sent to
customer
Customer preferences
Descriptive information about customer
Customers responses to promotions
Relationship Management 10.8
Approaches for Collecting
Customer Information
Need to have information connected with a specific
customer identifier
Ask for identifying information
Telephone number
Name and address
Use frequent shopper cards
Link checking account number and/or third party
credit cards to customer
Relationship Management 10.9
The Customer Purchase Cycle
Customer
How the customer relates to the retailer:
Uncover a
need/
problem
Dis
cov
er
whe
re
pro
ble
m
can
be
solv
ed
Visit
stor
es
Pur
cha
se
pro
duct
/
serv
ices
Con
sum
e
pro
duct
/
serv
ices

The Key:
Consistent execution of your promise Builds trust.
Customer trust that your store will always deliver Loyalty.

BUT, your stores promise is only as strong as your weakest link.
Lock-in
Relationship Management 10.10
What is a customer centric
relationship?
A relationship is more than good customer service. Though that is vital
Efficient, simple, 360, constant, unobtrusive, consistent with store promise
It is more than intelligent one-off interactions. Though these are valuable
Every time you interact with a customer a loyalty contact is being made
Relationships are longer term and broad-based. They create loyal advocates
You design, configure and promote products specifically for me
You understand my past behavior - and you reward me for it
You consult me on my needs - but you also pre-empt and surprise me
You respect my permission - and you develop it, given my preferences
R
e
l
a
t
i
o
n
s
h
i
p

Right
Person
Customer
Contact
Right
Message
Right
Media
Right
Time
respected and
developed
consulted but
pre-empted
understood
and rewarded
specific to me,
ever-changing
Lifetime of Value
My
Products
My
Behavior
My
Needs
My
Permission
Relationship Management 10.11
CRM problems in retailing
Customer
How the customer relates to the retailer:
Retailer
How retailers try to match the customers purchase cycle:
But here are the problems:
Difficult to
manage
customer
data
Customer &
Business
Analysis
Time
consuming,
non-targeted
campaigns
Inconsistent
Execution at
Stores
Disjointed or
single visit
selling
process
Inconsistent
field service
process
Cost-center
mentality
Marketing
Programs/
Campaigns/
Offers
Store
Operations/
Execution
Selling
Process
Delivery,
Setup,
Installation
Scheduling
Customer
Service
Process
Uncover a
need/
problem
Dis
cov
er
whe
re
pro
ble
m
can
be
solv
ed
Visit
stor
es
Pur
cha
se
pro
duct
/
serv
ices
Con
sum
e
pro
duct
/
serv
ices

Relationship Management 10.12
Successful Customer Centric
Strategies: 4 Key Elements
CRM Strategy
Components
Consistency
Across Functions
Execution
Performance
Monitoring
Effective
Segmentation
Customer
Experience
Business
Processes
Right Skill Sets &
Mindsets
Right Technology
Marketing
Sales
Service
Vendors, etc.
Implementation
Planning
Setting Goals
Agents of Change
in Management
Measuring
Progress
Rewarding Results
Relationship Management 10.13
Customer Segmentation
Effective
Segmentation
Customer
Experience
Business
Processes
Right Skill Sets &
Mindsets
Right Technology
CRM Strategy
Components
Enables an organization to understand:
Which customers / segments are most profitable
How to most effectively market to, sell to, and provide service to
these customers
With this knowledge, a company can determine which
segments will drive the greatest returns
Segmentation begins with the development of the
customer profile:
Demographics
Purchasing history
Customer Life Cycle information
Key Questions:
Who do we want to target, and why?
Whats the value of owning this segment?
What data do we have? Quality? Expenses & benefits to
improve?
Relationship Management 10.14
Maximizing the
Customer Experience
It is the total of the interactions a
customer has with a companys
products
It starts the moment a customer thinks
of your product
It does not end until the customer is
completely satisfied with it
Source: The Customer Experience,
Net Company, Fall 1999.
Relationship Management 10.15
Maximizing the Customer Experience
Addresses 3 Questions
How well do
you meet
customer
needs?
How
smoothly do
you solve
your
customers
problems?
How quickly
do you
anticipate
what theyll
want next?
Source: The Customer Experience,
Net Company, Fall 1999.
Relationship Management 10.16
Maximizing the Customer
Experience
Effective
Segmentation
Customer
Experience
Business
Processes
Right Skill Sets &
Mindsets
Right Technology
CRM Strategy
Components
Customer Experience: Maximize the customer experience during
the buying process
Capabilities: Use the right capabilities (people, process, and
technology) to maximize the use of customer information
Understanding Customer Value Segmentation: Give each
segment what they want
Financial Value: Understanding the financial value of executing
the strategy successfully. Its not an expense; its an investment
Key Questions:
How and where do my key segments interact with my brand?
Effectiveness/ efficiency of driving to different channels?
Relationship Management 10.17
Well Defined Business Processes
Effective
Segmentation
Customer
Experience
Business
Processes
Right Skill Sets &
Mindsets
Right Technology
CRM Strategy
Components
Automating an ill-defined or inefficient business process
will only accelerate the pace at which an organization
achieves poor results
A CRM strategy must focus on designing processes
based on customers perceptions & needs
Processes can include:
Marketing Campaign Designs
Store Layout
Pricing Strategy
Sales-floor Service Training
Order Management
Service Tracking
Returns Management
Each of these processes needs to be coordinated with
the other processes
Relationship Management 10.18
Skills & new mindsets
Effective
Segmentation
Customer
Experience
Business
Processes
Right Skill Sets &
Mindsets
Right Technology
CRM Strategy
Components
A customer centric strategy will changes the dynamics of
how people interact and how a company makes decisions
Managing this change is critical when implementing a
customer centric strategy
The change management required entails the realigning of
skill sets and mindsets
Example: Teaching selling skills without changing
attitudes will lead to poor prospect-to-buyer conversion
rates& will not maximize the customer experience
To support the culture change required, many companies
have found it necessary to:
Realign their reward systems
Reconfigure its compensation schemes
Relationship Management 10.19
Right Technology
Effective
Segmentation
Customer
Experience
Business
Processes
Right Skill Sets &
Mindsets
Right Technology
CRM Strategy
Components
The right technology is the final linchpin in a CRM
strategy
Enables an organization to track every customer
interaction, regardless of where, when, or how the
interaction occurs
The right technology will satisfy the following criteria:
Consolidated customer data source
Company & industry-specific functionality
Network availability & support
Scalable
Support for all devices (networked computers, handhelds,
cash registers)
Relationship Management 10.20
Metrics linked to rewards can
stimulate change
Area Old Metric New Metric
Marketing Response Rate
Cost per Response
Lifetime Value by Segment
% of Customer Base Buying
Products Gross Margin GM by Customer Segment
% of Category Spending /
Segment
Services Cost per Service % of Total Spend/ Segment
Impact on Retention
Store Sales Same Store Sales Same Customer Sales
Referral Rate / Store
Customers None Customers in Loyalty Program
Customer Retention Rate
Relationship Management 10.21
Retailers Use of
Frequent Shopper Programs
Relationship Management 10.22
Elements in Effective
Frequent Shopper Programs
Tier Based on Customer Value
Offer Choices of Rewards
Non-monetary incentives
Reward all Transactions
Transparent and Simple
Relationship Management 10.23
Retailer Personalization
Relationship Management 10.24
Cross-selling
Add-on selling
Converting Good Customers
to Best Customers
Relationship Management 10.25
Implementing CRM Programs
Need systems, databases

Close coordination between departments
marketing, MIS, store operations, HR
Shift in orientation
Product Centric Customer Centric
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