Presented by David Placier, VP of Marketing, Disney.com
Definition of CRM – Customer Relationship Marketing
- Differentiating marketing treatment and/or service level for an individual or group
- Differentiating in order to optimize customer value to company
- ROI based
- Targeted effort, not mass
Customer value = income you receive from an individual – expenses acquiring, servicing and marketing to individual
When CRM started isn’t clear – Local shops use CRM by giving you different suggestions and service depending on what they know about you from past purchases and visits.
Direct mail credit card acquisitions change their offer based on your credit score, your assets, your zip code, public data about you. They change their investment and marketing treatments based on this information.
Airline customer loyalty programs give premium seats and have separate lines for their best customers.
Online
Advertising – display location – where you surf may define which treatment group you get, but site experience is not differentiated by customer value or characteristics.
Search advertising is differentiated by treatment group – what you are saying, where you are landing, what you are searching for.
Product recommendations are characterized by previous choices, but maybe not by value and this experience is available to anyone.
With social media, find opinion leaders to treat differently and they will buy more, say more and influence more.
Future of CRM
- Personalization
- Optimization
- Addressability
- Commonly available data
- Cross device/platform continuity
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