CHAPTER 7

Technology Driven Marketing

Dianne Marie Clementir Sheina Jane Colago Lucy Ann Ebalan Daisy Mae Eneres Ericca de la Paz Dionylyn Rose Falisawan James Ganancial

Presented by:

TECHNOLOGY-DRIVEN MARKETING:

CUSTOMER RELATIONSHIP MANAGEMENT

The more you understand your customers, the easier it is to target new prospects and boost sales.

What is CRM?

 It is a strategy used to learn more about customers' needs and behaviours in order to develop stronger relationships with them.

Good customer relationships are at the heart of business success. Thinking about CRM in primarily technological terms is a mistake.

 The more useful way to think about CRM is as a strategic process that will help you better understand your customers needs and how you can meet those needs and enhance your bottom line at the same time.
This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively.

Customer Relationship Management Systems

Salesforce.com
Salesforce.com is the market leader among cloudbased CRM providers. They serve a wide range of industries and business sizes. Because the system is Webbased, users can access this powerful solution anywhere with Internet access.

Customer Relationship Management Systems

CampaignerCRM
This affordable solution integrates email marketing with CRM so your sales team can close more deals, faster. CampaignerCRM offers sales forecasting, social integration, mobile access, workflow management, conferencing and more.

Customer Relationship Management Systems

Saleslogix
Saleslogix provides a complete view of contacts and interactions across user organizations. Buyers can use this CRM to increase efficiency as they identify prospects, deliver care, acquire customers and manage relations.

NetSuite CRM+
NetSuite CRM+ provides a breadth of features for increasing sales, marketing and support efficiency. Managers can closely monitor performance and forecast future sales, while finetuning processes for maximum efficiency.

CRM steps include:

o
o

Targeting
Acquisition

o
o

Retention
Expansion

CRM steps cont.

TARGETING :
Who do we target? What segments are most profitable? What segments match our value proposition? What is the best segmentation strategy for us/our industry?

CRM steps cont.

ACQUISITION:
What is the best channel for each segment? What is the acquisition cost for a channel/segment? Do certain channels deliver certain types of customers? Cost effective acquisition?

CRM steps cont.

RETENTION:
What is our average customer relationship length? How can we hold customer for as long as possible? What is the most effective method of retention?

CRM steps cont.

EXPANSION: How many products does our average customer buy? How can we induce our current base to buy more products? Who are the prime targets for the expansion? What is the cost of expansion?

WHY CRM?

CRM is a business strategy not a product.

Putting CRM into a practice requires developing into a set of integrated applications to address all aspects related to front-office needs. CRM could be a major support platform for a small and medium-sized enterprise. A typically dissatisfied customer will tell 6-8 people about his/her experience (mainly related to poor customer service).

ELEMENTS OF RELATIONSHIP MARKETING

 Be relevant. When possible, customize or even contextualize your communications to personalize your audiences experience. Audience expect messaging tailored to their lives and interests.

 Provide value. Give away some of your secrets. Provide the answers to some of your audiences most pressing questions. By providing value, you can gain credibility, become the authority, or go-to resource on the subject.

 Welcome dialogue. Listen to your community members and respond to what was said. Dialogue helps to establish relationships and engage your communities.

 Be responsive. Respond to feedback (both negative and positive), even if youre simply letting your audience know that youve heard what they said. Often, you can turn a negative experience into a positive one.

 Be respectful. If someone opts out of your communications, make the request process easy and transparent. Be responsive but respond respectfully to the feedback.

 Be authentic. Authenticity resonates with your audiences, and authentic communications will motivate customers to become more engaged.

CUSTOMER RELATIONSHIP MANAGEMENT CYCLE

CRM Cycle cont.

The first stage is to plan your marketing strategy, determining the customers segment s you will target and the campaigns you will aim at those segments. Those campaigns are increasingly highly to incorporate some kind of loyalty programme to allow you to develop long-term relationship with the customer.

CRM Cycle cont. The second stage is to interact with customers and execute the marketing plan so that both the company and its customers get the most out of their interactions. Communications with customer can take place through many different channels and the organization needs to have processes and systems in place to handle interactions through any of these channels.

CRM Cycle cont.

The next step is to process the information captured during the interaction and ensure that customer requirements are fulfilled.

CRM Cycle cont.

Then, you should leverage the information you have collected during the previous three stages to learn about your customers and use that knowledge to update your plans in order to take your relationship with customer to a higher and more intimate level. Analysing the data will help you: spot trends in customer behaviour; identify new segments; predict hoe customers are likely to react to particular campaigns and offerings; and determine where you are most likely to see a return on investment.

IMPLEMENTING A CUSTOMER RELATIONSHIP MANAGEMENT SYSTEM

 First, after choosing your CRM

software provider, you will need to begin uploading your customer and business related contacts into the CRM program. Depending on the size of your business, this may be a large investment of time. However, after having all of your contacts loaded into the system, you now have one, reliable software program to locate contact information. Be certain to include all available phone numbers and addresses as well as other information that may be useful to maintain, such as email addresses and account numbers.

Now, after you have loaded all contacts into the CRM software, you can begin to input future activities. CRM software will allow you to add activities, such as service phone calls or account review letter mailings, to your contacts. In doing so, you assure yourself that the activity will not be forgotten in this fast paced world. This assurance and capability to follow through on the promises you made to customers will better your customer service level. For instance, your client Mary has a birthday in 7 months and you want to make sure to send her a card. If you do not use CRM software, you may very well forget this activity. However, if you do use CRM software, the activity will pop up on the exact day you entered, leaving you no chance to forget the important activity. Now that you own or use the CRM software, adding future activities to contacts should become a daily, habitual practice for your small business.

After adding in your servicing activities to your CRM software, you will now want to add future sales activities. This is where CRM software can have the largest impact on your business profits. Just as you may accidentally forget a customer's birthday, as an example, you may also forget that a prospect requested you to call them on that life insurance policy in exactly 3 months because they had funds coming available for premiums. Again, this is just an example, but CRM software will keep you on your toes when it comes to tracking future sales opportunities. Additional sales are often the lifeblood of a small business and CRM software will more than pay for itself by helping you stay on top of future potential profits. Future sales related activities should be added in for both prospects and current customers. By proving your capability to follow through on promises, you will build trust with your current and prospective customer base.

Lastly, use your CRM software to manage current accounts. By keeping documented notes on your current customer accounts, you will not only be better in servicing your customers but you will also protect your business. Customer account notes in CRM software will essentially allow you to keep a paper trail of all conversations and activities for a particular account. If for any reason a customer were to make a false or negative claim about your business, you will have factual notes attached to the account that can be used in litigation if necessary. It is also important to let your customers know that you use CRM software, as it will give them a sense of comfort about the organization of your small business. It will also prove to your customers that you place an emphasis on customer satisfaction.

ENHANCING CUSTOMER SATISFACTION

1. Listen

2. Surprise Customers with a Bonus

3. Offer Free Product Training and Support 4. Responsiveness

TECHNOLOGY-DRIVEN MARKETING:

SOCIAL MEDIA AND MARKETING

What are Social Media?

 Social media would be a social instrument of communication. This would be a website that doesnt give you just information but interacts with you while giving you that information. It is a platform that is easily accessible to anyone with internet access. It increases communication for organizations fosters brand awareness and often, improved customer service.

 Examples of this are Facebook, Twitter, Wikipedia, Flickr, YouTube, and Skype. Any websites that invites you to interact with the site and with other visitors falls into the definition of social media.

HOW CONSUMERS USE SOCIAL MEDIA?

 Consumers use Social Media in purchasing

Consumers use Social Media on Emergencies

MEDIA SCHEDULING

Media scheduling refers to the programming of media insertions.

SOCIAL MEDIA AND INTEGRATED MARKETING COMMUNICATIONS

Integrated Marketing Communications (IMC) is a process of planning, executing, and monitoring the brand messages that create customer relationships. Like social networking, IMC is about managing day to day interactions with customers and prospects. There is no beginning or end it is continuous.

It includes six (6) components: Brand A brand is a perception resulting from experiences with, and information about, your company or your companys products. Brands live in the hearts and minds of customers, not on the side of a package. Building brands is the overall objective of all marketing communications as well as all marketing activities.

Brand Messages Brand messages are information and experiences that impact how customers and other stakeholders perceive your brand.

Six Components cont...

Marketing Communications (MC) MC is the various type of planned messages used to build your brand.
Media Media is the vehicle through which marketing communication are carried to and from target audiences.

Six Components cont...

Customers Brand Experiences Each customers brand experience either strengthens or weakens the brand. Strengthened experiences result in increased sales and profits. Evaluating, Planning and Social Media Your organization must continually monitor and evaluate the impact of brand messages on customers attitudes and responses and adjust the marketing communication plan accordingly. What differentiates IMC from traditional advertising is that it is an on-going process that continually impacts relationships with customers, prospects, and other stakeholders.

EVALUATION AND MEASUREMENT OF SOCIAL MEDIA

 It is an active monitoring of social media channels for information about a company or organization. It is also a way to determine the volume and sentiment of online conversation about a brand or topic. It can also provide valuable information about emerging trends and what consumers and clients think about specific topics, brands or products.

 Several different providers have created tools to facilitate the monitoring of a variety of social media channels from blogging to internet video to internet forums.

This allows companies to track what consumers are saying about their brands and actions.

SOCIAL MEDIA AND MOBILE TECHNOLOGY

Mobile advancement has become a giant in the technology field, since apps were invented and Steve Jobs launched his iPhone, iPod, and iPad series. Most of the world now actually prefers using the internet on their mobile devices than seated at a computer. Social Media sites like twitter and Facebook are built to thrive on the mobile phone. Mobile devices will ensure that we get news, seconds after it happened. That we never miss another friends birthday, or special occasion and we are able to share in the experiences or perceptions on a specific experience or products.

THE CHANGING WORLD OF SOCIAL MEDIA

For 600 years, we have lived in a world where distributing information was expensive and out approach to managing information was therefore restrictive. News was edited down to 30 seconds segments and marketing was edited down into 30 seconds ads. But the big shift has happened because social media liberates information from restrictive means of distributionit has meant that information has become free in both a monetary sense and a mobility sense.