Analyzing and Using Marketing
Information
How is the Information Analyzed???
• Information is gathered in internal
databases and through marketing
intelligence.
– Marketing research requires more
analysis.
– Managers need assistance to gain
customer and market insights that
will improve their marketing
decisions.
– The application of analytical models
may also be needed to help to help
marketers make better decisions.
– Once the information is processed
and analyzed it must be made
available to the right decision
makers at the right time.
What is Customer Relationship
Management [CRM]???
• CRM manages detailed
information about a company’s
customers.
• It consists of sophisticated
software and analytical tools
that integrate customer
information from all sources,
analyze it in depth, and apply
the results to build stronger
customer relationships.
• CRM incorporates everything a
company sells, services, and
marketing teams know about
individual customers.
What does this slide represent?
Where does the data come from?
What’s the big deal with CRM???
• Managing customer and market
data is a challenge!!!
– This problem is usually fueled by
the fact that marketers are flooded
with information about their
customers trying to reach all the
touch points.
– Touch points include customer
purchases, sales force contacts,
service and support calls, website
visits, satisfaction surveys, credit
and payment interactions, and
market research studies.
• The information is usually very
scattered.
CRM Provides a Central
Location to Organize all
the Data from the
Different Touch Points
Interesting Facts
• By 2010 US companies
will spend approximately
18 billion on Customer
Relationship
Management systems
–Companies included in
this statistic are Oracle,
Microsoft,
Salesforce.com, and
SAS.
What do CRM analysts do?
• Customer Relationship
Management Analysts
develop data warehouses
– Data warehouses are
companywide electronic
databases of finely detailed
customer information
• Sophisticated data mining
techniques are then used to
deeper analyze the
customer data
– Data warehouses are not only
used to gather information,
but it is also used to gather
information into a central,
accessible location
The importance of Analyst Findings
• An analysts findings can often
lead to marketing
opportunities
• Companies can provide
higher levels of customer
service and develop deeper
customer relationships
• Analyst findings can also be
used effectively to target high
valued customers, and to
create offers tailored to
specific customer
requirements
Harrah’s Hits the CRM Jackpot
• Harrah’s CRM relationship management
system helps the company to focus its
branding, marketing, and service
development strategies on the needs of
its most important customers
• Harrah’s has become the model for good
CRM due to the way it relates to
customers and creates customer loyalty
– Harrah’s Total Rewards programs
allows customers to redeem points
for cash, food, merchandise, rooms,
and hotel-show tickets
• More than 80% of Harrah’s
customers worldwide use a Total
Rewards card That’s equivalent
to 40 million people and 1 out of
6 adults
Distributing and Using Marketing Information
• Marketing information must be
available to customer service reps and
decision makers.
• This is usually done through regular
performance reports, intelligence
updates, and reports on the results of
research studies.
– Marketing managers may need
nonroutine information for on-thespot and special decisions.
– Firms usually use intranet to help
with this process
• Intranets provide ready access
to research information, stored
reports, shared work
documents, contact information
for employees.
The Use of Extranets
• Extranets may be used
by suppliers, customers,
resellers, and other
network members to
update their accounts,
arrange purchases, and
check orders against
inventories to improve
customer service.
Modern Technology & CRM
• Modern technology allows marketers
access to information at anytime
from any location.
• Can be accessed at a home office, a
hotel room, or from a local café’s
wireless network.
• Modern technology gets managers
necessary information directly and
quickly to augment it for their own
needs.
• Information can be obtained from
company or outside databases, can
be analyzed using statistical software,
managers can prepare reports and
presentations, and communicate
directly with others in the network.
CRM The Big Picture!!!
• CRM is a technological process of
organizing and storing huge
amounts of customer and market
data.
• What is the goal of CRM?
– To better manage customer relationships,
discover opportunities, streamline the sales
process, better target specific markets and
pinpoint high valued customers in an effort to
increase profitability.
– KEYS TO CRM SUCCESS