Customer relationship management consists of four elements:
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* ''Customer selection''
** What criteria determine who will be our most profitable customer?
** This refers to customer segment targeting which is addressed in [[Market Segmentation]].
* ''Customer acquisition''
** How can we acquire this customer in the most efficient and effective way?
** Includes promotions
** Includes incentives like
*** Acquire new customers
*** Entice existing customers to use the company's internet based offering.
* ''Customer retention''
** How can we keep this customer for as long as possible?
** Customer retention aims at:
*** Turning one time customers into repeat-purchase customers
*** Keeping customers for as long as possible in the online channel
* ''Customer extension''
** How can we increase the loyalty and the profitability of this customer?
** Maximize the life time value for a customer. Companies achieve this by expanding scope through [[Cross selling]].
bag
businessmodelling_public
created
Sun, 19 Sep 2010 13:58:48 GMT
creator
dirkjan
modified
Sun, 19 Sep 2010 13:58:48 GMT
modifier
dirkjan
tags
Business
M8
Modeling
Term
creator
dirkjan