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Customer
Relationship Management (CRM)
Customer
Relationship Management (CRM) treats marketing as a process over
time. The marketing approach used with the customer is determined
by the customer LifeCycle and the customer’s
Lifetime Value rather
than single unconnected events, and molding the marketing message
and tactics to the LifeCycle of the customer greatly enhances
customer satisfaction and profitability.
The key enabler
of CRM is the data that customers create through their
interactions with the organisation, and which can be used to build
LifeCycle models or rules to follow. The CRM approach uses this
LifeCycle model as a "timing blueprint", targeting the right
customers at the right time, with the most profitable offer.
At LP, we help
companies create and track customer LifeCycles and Lifetime Values
- two metrics critical to the success of CRM - in order to rapidly
and dramatically improve the ROI of customer marketing efforts.
Tracking customer LifeCycles makes it possible to begin predicting
them, which in turn makes it possible to target marketing efforts
at the most critical trigger points in the customer LifeCycle.
This approach eliminates a lot of wasted marketing spending, and
enhances marketing campaigns’ ROI. Less money overall is spent,
and the money spent is much more effective.
At LP, we work
with clients to define, design and implement customer-centric CRM
strategies that get the biggest marketing benefit out of their
customer data for the least cost, ensuring that the proposed
approaches reflect the ambitions and strategy of the business as
well as its level of sophistication and receptivity.
LP consultants
help companies achieve sustainable benefits, including:
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