CRM: Customer Relationship Management

Your best prospects are your current customers.

The cost of acquiring a new customer is high. And when you consider the lifetime value of your current customers, the case for paying attention to them becomes obvious.

Customer Relationship Management (or CRM) is a broad marketing discipline that seeks to retain, nurture, and enhance relationships with current customers.

There are two critical components to CRM: philosophy and process — or, as applied in most organizations: strategy and technology.

Choose from these DMA course offerings:

• CRM & Database Marketing (In-Person Certification)

• The Essential Elements of Customer Marketing (Online Course)

CRM Philosophy…
The general philosophy of CRM is to pay attention to the customer’s perspective of your company — the customer’s experience at every touch point. What is it like for them to make a purchase, receive a package, or call your customer service line? When they receive a letter or an email from you, are they called by name? What is the tone?

The simple proven truth is that if a customer feels valued and important, he or she will be more likely to stay with you, spend more, and refer friends.

CRM Process…
The process of executing a Customer Relationship Management program refers to the procedures in place to get to know and recognize customers, acknowledge their importance, accommodate their needs and convenience, and reward their loyalty.

With large numbers of customers, staff, communications, interactions and transactions, keeping track of the customer experience and managing customer relationships can become overwhelmingly complex. Special strategies and technologies have been developed to facilitate this process and there are many resources to help organizations customize and implement CRM software and procedures to successfully cultivate enduring, profitable relationships with customers.

DMA Education can help you understand both the philosophy and the process of CRM — the strategies and technologies — to:

• Cultivate loyal customers
• Dramatically reduce attrition
• Improve customer profitability