Local Marketing

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Local Marketing and Customer Relationship Management

Objectives
CRM
Trust Models for Managing Relationships
Brand Communities
Customer Experience Management
Measuring and managing to build customer value
Building Loyalty
Implementation Process

Tony Hsiesh
Pamela Danzinger

Session 1: Principles of Customer Relationship Management

Customers: Most Valuable Asset
= Good-will => if somebody is your customer today then they will continue to be your customer tomorrow Customer are valuable because they are the brand => marketing the brand => they can recommend the brand to others Customers => how do you recognize a valuable customer?

CRM: a basic principle that we have to recognize to customer => not all enterprises are able to do that today => much easier with the Internet

Measure: What is the value of the customer? Today and in the future => we want to repeat business but we also want recommendation => certain kind of customers are more willing to recommend our products than others => with the same amount of money spent, the customer who recommend the product is more valuable than the other one

How do you manage those relationships? How do the customers want to interact with us? How can we make them more engage? Relationships with customers => personalized, customized => we want to increase the value of the customer base => not about increase the numbers of customers => it is more about increase their value => customer = the heart of the business

Customers are “King”
Top research priority => customer retention => you need to understand why you are in business, action/consequences =>your action will either encourage customers to repeat business with you or not => must less expensive top give a customer than to have a new customer => how do you create delight? They measure loyalty => if a customer comes frequently
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