It is important to remain the company's competitive. One way of improving competitive advantage is to attract more customers and increase customer
retention. Those kinds of information is to help company build good relationship using CRM
New technologies are not replacements for loyalty or CRM, but rather as complimentary technologies that can increase the efficacy of existing infrastructures.
Neal Shen's insight:
this article is criticle to wirte the relationship the social CRM and customer loyalty. Companies will be challenged with regard to where to next look for actionable data and how to quickly identify the new sites where dialogues are forming and can be measured and monetized in this quickly evolving social landscape. How the orgnization is adepting Social CRM will be the question.
What the relationship between rlationship marketing and CRM?
Thechnology has given way to the development of CRM software and process that have made it possible for companies to achieve benefit. Many confuse relationship marketing with CRM. In fact, CRM is the tool used by relationship marketing practitioners.
How about the future of relationship marketing?
It is still the future of marketing. The only different thing is that the development of technology may change the tools of relationship marketing.
the relationship marketing effect the benefit of compamies for the long term .
Over 50 percent of loyalty marketers identify exceptional customer service as the most important aspect of customer loyalty programs geared towards affluent consumers, according to a recent survey conducted by Affinion Loyalty Group and VIPdesk.
Neal Shen's insight:
According to a recent survey by Affinion Loyalty Group and VIPdesk, one of most important custmer loyalty is exceptional customer service. This airtcle introduce how Affinion Loyalty Group work to obtain the result, but it is show how we can do to imporve customer service.
In my opinion, CRM expecially Social CRM is good tool to improve customer.
the following picture shows how Social CRM work to improvie customers service
As search engines continue to roll out new algorithms that aim to reduce the effectiveness of certain black hat SEO techniques, white hat SEOs also have to find new ways to manage successful SEO campaigns.
Neal Shen's insight:
Why SEO should use relationship marketing? Is it easy or hard to build?
Relationship marketing is a intelligent techology, if the company use it prorerly. The connection with customer that was bulit can stand the test of time. Customer loyalty is important for companies' success.
This is a long-term strategy so don’t expect immediate results. However, with patience and hard work, your relationship marketing campaign will bring plenty of rewards.
Many companies cannot capture the promised benefits if they do not have certain prerequisites within their own skill sets, such as the right developer talent and governance model to work in an agile, iterative approach that leading organizations use to be successful. So don’t make these mistakes:
Trying to develop the “perfect” solution. Cloud CRM brings increased agility and flexibility, making it easier for organizations to tweak and upgrade the system after it is deployed. Unlike in the past, organizations don't have to deploy the perfect CRM solution all at once. Instead, they can deploy a “good-enough” system at first — as long as it is positioned so that the organization can quickly iterate and add improvements after deployment.Spending too long on key decision points. Be prepared to make decisions quickly in order to drive development sprints, iterate quickly, and plan on the fly. In order to achieve this, organizations must establish governance boards and project teams that represent interests from across the organization and have decision-making power to approve development plans and changes.Not using information worker personas to guide development cycles. End user personas — similar to marketers' personas for consumer segmentation — are high-level overviews that illustrate how and why a typical user in a specific job role uses the CRM system and what benefits that user will receive from it.Not having the right skill sets. Skilled business analysts (BAs) will become increasingly important as solution governance makes the shift from a focus on application installation to a business-centric process improvement.
I totally agree, the most important part of CRM is to serve efficiently customer needs. The ideal CRM must provide the best sevice for the customers. When the company adopt CRM software, there are lots of facts needed to consider.
Loyalty Marketing thoughts and musings ... Within loyalty, when we talk about terms like gamification and how these are changing the face of loyalty, most commentary is about the mechanics. However what gamification is ...
User experience is important in all interactions, it's not just about online or digital experiences. Increasingly the user experience is what sets us apart from competitors. Making things easy, engaging, responsive, fun and useful is critical.Totally agree that Smartphones are the way forward.
Social media engagement and voice-of-customer platform that helps the social enterprise serve and collaborate with the social customer. you can follow anyone's blog.If you have been tracking conversations around social media for business, you have undoubtedly come across people talking about Social CRM.Social CRM is a central concept that businesses need to understand deeply and integrate fully, in order to serve the social customers.But most of business company haven't realized that.
The UK passed the first Internet retention laws with ATCSA 2001, and used its EU Presidency to enact the Data Retention Directive. The Communications Data Bill will set in stone the doctrine that all metadata in current and ...
Chicago-based Belly said it was rolling out its customer loyalty and marketing platform to larger national enterprise clients. The startup has been aimed at the consumer market and smaller businesses since its launch in 2011, ...
Neal Shen's insight:
This is an example of developing loyalty relatiohships with customers
What’s the value of a Facebook fan? On average, $174.17, according to a new report from social media marketing firm Syncapse Corp. and market research firm Hotspex Inc. That’s a 27.7% jump from 2010, the last time the vendor attempted to quantify Facebook followers’ value, which it then estimated at $136.38.
The two firms based the report on data collected from more than 2,000 U.S. panelists in January and February. They arrived at the figure using a survey that asked Facebook fans and non-fan panelists to share their thoughts about brands such as Wal-Mart Stores Inc., Target Corp. and Coca-Cola Co.. For instance, the survey examined how loyal shoppers are to Wal-Mart and how likely they are to recommend the retailer to their friends. The vendors also compared fan and non-fan panelists’ shopping behaviors, such as how often they bought a brand’s products or shopped at a retailer and how much they spent, across the 21 brands examined in the report.
While $174.17 is an average, for certain brands the value of fans is significantly higher, the report found. For instance, each of Wal-Mart’s 28.6 million fans is worth $834.76, according to the report. And Target’s 21.8 million fans are worth $618.53 each. That’s largely due to the frequency that consumers shop at those stores, the typical amount they spend, as well as shoppers’ affinities to the brands.
However, not everyone agrees with the report’s methodology, including Wal-Mart and Target. Both retailers suggest that seeking to peg a dollar value on Facebook followers is an inexact science and not an approach they take.
“We don’t put a dollar value on our Facebook fans,” says a spokeswoman for Wal-Mart, No. 134 in the Social Media 300, an Internet Retailer research guide that ranks retailers by the percentage of traffic to their web sites from social networks. “But we do value them. We see social media as an amazing place to have a conversation and dialogue with our customers.”
The value, she says, is that unlike other marketing channels, such as e-mail, social media is a two-way dialogue that can inform the company’s business practices. For instance, Facebook fans suggesting on the social network that the retailer offer healthier foods in its stores led Wal-Mart and its suppliers this month to remove unhealthy trans fats from its prepared bakery items.
Moreover, the retailer can post many messages on Facebook without turning shoppers off. For instance, yesterday Wal-Mart posted five different messages on its page. Sending five e-mails in a single day would undoubtedly lead consumers to unsubscribe from its e-mail list, she says.
Target similarly says it views social media as an “important platform to connect with our guests, share enthusiasm for our brand, listen to feedback and provide great deals,” says a spokeswoman. Moreover, she says, it reaches consumers on the sites where they’re already spending time. A recent Nielsen Co. report found that social networks account for 20% of the time consumers spend on a PC and 30% of their time on a mobile device.
Even so, Target, No. 169 in the Social Media 300, doesn’t assign a value to its Facebook fans, the spokeswoman says.
The report suggests that there are stark differences between a brand’s fans and non-fans. 39% of fans use social media to research products before making a purchase, compared with 14% of non-fans. And fans’ average purchase of items from brands featured in the study was $255, 83.5% more than the $139 non-fans.
As more consumers spend more of their time on social media, brands should take notice and use the channel to reach consumers, says the report. “Business now is social,” the report says.
Social network are more easy to show more information that may be needed by customer on their homepage than e-mail. For example, If customers recieve 5 or more e-mail in a one sigle day, they may unsubscribe from their e-mail list. In addition, there are increasing number of people using social media every day and brand fans on social media spend more money. Therefore, SCRM will play key role in current business evironment to make benefit from customers.
Brands are turning to social media platforms to bring the traditional loyalty model in line with the growing consumer demand for social recognition, personal relevance, intimacy and immediacy.
Neal Shen's insight:
It is greatly appreciated! brands want to listen to their customers on Facebook when things are going well and it’s on their terms. But what happens when the customers and the company want different things? Wrong thing may happen.
So interesting picture, Could you know the customer loyalty, why company should gain coustomer loyalty, what kinds of the behavior the customer have when they buy something? This picture not only answer the questions and give more data which are useful for company to make benefits from customers.
Salesforce.com is expanding its social ad offerings today with a new product called Salesforce Social.com which give its core business as an online CRM system
Salesforce is hoping to tempt its existing CRM and listening customers who are “trying to figure out what their social advertising strategy should be” while also creating a product that works for ad agencies.
Experience Creates More Loyalty Than Price - 05/06/2013 (Did you know customer experience accounts for 55% of loyalty in banks?
Neal Shen's insight:
What is the relationship between customer loyalty and price?
Most arlctle show that an effective pricing strategy can be the difference between being perceived as a market leader or follower, while the wrong strategy can strip margin and make it difficult to survive or push consumers away encouraging them to shop your competition. This article tell us from different viewpoint.when it comes to building loyalty, people respond more to the experience they have with the retailer than with their perception of price.That means customer service play more important role than price for customer loyalty.
A number of people have suggested that business should add tagging for contacts. That's a great idea and I'm wondering why business didn't think of it. They now have Tags for Business CRM! That's brilliant!
With cloud-based everything dominating the tech-world landscape these days, it’s reasonable to consider the pros and cons of migrating your CRM systems to the (Will Cloud-Based #CRM Systems Really Improve Your Customer Service?
Nowadays， companies are enjoying the benefit the cloud offered including low costs,improved agility and the flexibility to use the cloud for remote workforces. However, not all companies can obtain benefit from cloud CRM system.
Če so obstoječi sistemi CRM komaj kaj več kot seznam kontaktov in kot taki precej zastareli, pa je "predictive CRM" precej sodobnejši in uporabnejši. Na podlagi zbranih podatkov iz notranjih in zunanjih virov namreč predlaga prodajalcem, katere stranke poklicati in kaj reči, da se bo stranka dejansko odločila za nakup.
Lady Gaga didn’t become the success she is today based solely on her talent. She did so by engendering immense loyalty from her fans through her music, her message, and the community she has built around them.
Neal Shen's insight:
Interesting article,Lady Gaga can teach businesses how to lead with loyalty and gratitude.
A study by Deloitte Consulting found that businesses that track their customer loyalty are 60% more profitable than other companies. 60%! What does that number mean to you? Even if you want your business to increase 5% ...
Neal Shen's insight:
obviously, customer loyalty is important to obtain benefits for business. So learning on existing customers to help companies grow their business play a key role in companies to make benefits.
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