Marketing Agency
Customer Retention Techniques Based on the CRM data of their customers, retail businesses use multiple techniques to encourage customer retention. We are all willing or unwilling participants in these activities on an everyday basis. Your… Customer Retention Techniques
Frequent-Shopper and Rewards Programs Customer retention is crucial to the success of any business given the high cost of acquiring a customer in the first place. It is estimated that it costs a business 5-25X… Frequent-Shopper and Rewards Programs
Goals of Data Analysis Market basket analysis gives clues as to what a customer might have bought if the idea had occurred or been suggested to them. Other terms used are “impulse purchasing’ or “cross… Goals of Data Analysis
Analyzing the Customer Database What you’ll learn to do: Examine the objectives for analyzing the customer database We will explore some of the techniques behind customer retention and customer loyalty programs. How does a retailer identify… Analyzing the Customer Database
Privacy Issues Retailers, among other businesses, push for greater customer service and transaction security through better information about their customers. CRM systems are becoming more sophisticated in order to handle the increased amount of data… Privacy Issues
Collecting Identifying Information Retailers have collected identifying information since the business of retail was born. Before modern technology, retail proprietors would rely on their memory to know their frequent customers by name and use basic… Collecting Identifying Information
Customer Database For retailers, CRM systems store three primary categories of information: Customer profiles Customer activities Customer management Since CRM systems evolved from contact information applications from the 1960s and 1970s, customer profile data would… Customer Database
Shopping Data Collection What you’ll learn to do: Discuss how customer shopping data is collected We will learn how retailers use technology to keep track of their customers. What is Customer Relationship Management? What information do… how customer shopping data is collected
Supplier and Retailer Coordination Vendors and retailers can coordinate their efforts in several ways. They can coordinate in planning sales and inventory levels, as well as in planning promotions and by sharing real-time sales data.… Supplier and Retailer Coordination
Sales and Information Systems Given the definition of a supply chain and some brief examples, one can imagine how difficult it must be to manage all of the moving parts of the process. Supply Chain… Sales and Information Systems