Strategic CRM
Strategic CRM also known as
Strategic Customer Relationship Marketing, the focus of this for companies is
where they place the same emphasis on retaining customers just as much as
attracting new ones. After conducting my research I found that customer
relationship marketing has become a very important part of business now is marketers
realizing that their job isn’t done once the sale is complete but to build a
brand relationship with the customer which will help grow profits for the
company. It’s all about brand loyalty so for companies using strategic customer
relationship marketing they have to make sure it’s easy to identify and being
able to differentiate from other companies in the market by creating trademarks
that the customers will be able to relate and refer to the company as. An
example of this would be creating a trademark of having a strong trustworthy
brand that stays true to their commitment to the quality of their products and
services.
As you can see in the image above
it’s a loyalty ladder and this is the levels that companies want their
customers to climb up with their customer relationship marketing strategies
that they have put in place to build brand loyalty as the customers reach each
level on the ladder the companies will begin to gain even more profits due to
their customers will only want to purchase that specific brand over any other
in the market and those individuals will be more likely to talk about the positive
aspects of the brand which is one of the most effective methods of advertising
being word of mouth advertising and when you combine that on top of the
advertising methods that the company is using to attract new customers the
loyalty ladder will always be in effect and continuing to keep customers going
up the ladder and keeping the ones that are already at the top satisfied.
Hey Nick great job,
ReplyDeleteLooks like I get to be the first comment on your blog. Although I just read a blog on CRM, this one just confirms all the facts the previous one stated. I enjoy your ladder picture and the concept that derives from it. While reading it, I found myself comparing my location on the ladder with several products I use in my daily life.
Well done and great information Nick.
Great job Nick
ReplyDeleteI agree with you, it is all about brand loyalty for a strategic CMR. It is important for brands to be able to offer consumers something that other brands are not and therefore getting rid of brand parity for a specific brand.
Great post!
Nick,
ReplyDeletegreat blog, very informative. The "Loyalty Ladder" was a great visual for this blog helping to sum up the idea of CRM. Customer Relationship marketing is a very important aspect for companies to work on to keep a positive brand value in the customers mind. If a company is to keep their consumers happy, they will have no problem investing more money into your company. the same as for new customers.
Great blog nick!
Nick
ReplyDeleteGreat Blog. amazing visuals making the CRM more interesting and seeing how important it is to companies. If the consumer is happy that means everyone is happy and the company just gained a satisfied costumers.
great work expected nothing less
Elliott
this really is insightful.
ReplyDeletei know see how crucial a crm can be to a company.
Hello Nick
ReplyDeleteyour post is quite informative as well as being well laid out. I agree with your comment "Strategic CRM also known as Strategic Customer Relationship Marketing, the focus of this for companies is where they place the same emphasis on retaining customers just as much as attracting new ones" I believe we learned in Marketing 1 that It cost 10 times more to attract a new customer then it does to keep one.
Very well done.
David
Hey Nick,
ReplyDeleteNice work with your entry. Great idea adding the picture/chart image as it helped create a visual understanding of how everything works. Nicely done.
Andrew
Great visual choice! With all of choices out there for buyers today, CRM is more important than ever before, the consumer needs to be everything and businesses need to do whatever they can to keep their customers.
ReplyDeleteHey Nick,
ReplyDeleteThe Loyalty Ladder is a great representation and summation of your entire post. It brings together the whole concept and gives it a more understandable approach. Your post emphasizes the importance of CRM in the business world. Good job!
Kellen Cummings
Hey Nick,
ReplyDeletereally insightful blog. your emphasizes on CRM goes a long way and keep customer loyalty which is important in any company. Even small details such as noting regular customers birthdays and wishing them a happy one on that day. It shows customers that you are dedicated in going that extra mile.
Any business that wants to excel greatly absolutely needs good CRM, its crucial. Without being able to put a database together to monitor and group your customers together, it will be very hard to cater specifically to them. This could cause problems, and potentially lose customers due to the bad relationships between the service/product provider and the customer. Great "Loyalty Ladder" visual, and overall a great post!
ReplyDeleteGood Job Emilee,
Raffi Kaloustian
Hey Nick,
ReplyDeleteYour post on CRM is done quite well I think. The diagram of loyalty fit in perfect, all businesses small or large must maintain their relationship with there customers or else they will never grow.
-Joe
The great visual for this blog. The Loyalty Ladder summary the idea of CRM. Customer Relationship marketing is a very important since comapanys want to fcous on brand prestige.
ReplyDeleteAgree with William that customer relationship marketing is indeed very important to keep that brand loyalty and brand image positive.
ReplyDeleteGood blog, this topic is essential for businesses to use always
Jake
Fantastic visual on the Loyalty Ladder, it clearly showed me how companies want CRM to function.
ReplyDeleteHuy
very informative post, i didnt know that much about CRM but now i do! I really enjoyed reading your blog!
ReplyDeleteGood job Nick
Samantha