Customer relationship- it is a relationship between the customers and a firm. The firm can be considered a brand or product. This relationship is a very important to the firm because as long as the relationship is weak it will make it easier for the customers to purchase from a different brand. (since their is not a strong link/loyalty with the brand). When there is a strong relationship, customers will do their best to continue to purchasing from the same brand since they become loyal/attach to the brand.
There are different types of customers relations:
Emotional – it makes the customer feel good which will produce a repetitive purchases and it increases the loyalty between them.
Intellectual – customers evaluate the pros & cons of the products. The customers can have either a positive/negative relationship. A positive relationship will allow the customer to trust the seller and make them believe that it will provide them with great value continuously (which in effect, creates a positive feeling among them). It can make them feel that the brand represents them and their interests. This will drive them to accept the brands advertising efforts toward them. Meanwhile a negative relationship will create a doubt, instability, and the idea that them brand is either cheap(lower value) or that it doesn’t represent them accurately.
Book information : CRM
Targeting: its directing marketing communications to the individuals/businesses that are viewed as valid prospects for acquisition or retention. Targeting in CRM will identify customers by developing customer profiles and using them either to identify customers who are appropriate to receive.
Customer profile: it describes the primary quantitative, of an individual/segment using lifestyle, behavioral characteristics, and specific demographics. The quickest way to build your own house list is through registration on a Web site. Firms would love to have techniques like the pull-down lists to reduce error. It helps them in such a way that the form cannot be completed without an incentive. Data collection is just a “fishing expedition”, as relationship strengthens, more information that is more detailed and more personal can be collected.
Personalization: involves the creation of specialized content for a prospect with a known profile by choosing from an array of existing content modules.
THREE BASIC TYPES OF PERSONALIZED SITE CONTENT ARE USE:
· Rules-based personalization chooses content on the basis of known. (location, likes)
· User-Controlled personalization this allows users to choose the content elements that will be on display. Businesses are encouraging customers to create their own personalized entry page containing the information they access most frequently.
· Information-driven personalization uses complex profiles.
CUSTOMER LOYALTY PROGRAMS- club card programs and credit cards