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Characteristics of a CRM Plan

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In your own words describe at least three activities that represents each characteristic of a CRM plan; share of customer, lifetime value of a customer, customer equity or high-value customers.

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1. Share of Customer
? Be concerned with building relationships with customers and try your best to satisfy what they need in a product or service. Customer satisfaction is the goal in CRM. Invest time, resources and effort in understanding and addressing the necessity of personalized relationship with the customers.
? Use methods that engage the customers and make them interact with the company through direct marketing leveraging techniques, e.g., direct mailers, e-mail campaigns, live chat support, targeted web marketing, and other online customer buying behavior analysis.
? Customer loyalty puts a company in a sustainable advantage over its competitors. Build and improve customer loyalty through the implementation of a variety of customer loyalty programs such as rewards program; frequent purchase card; discount card; membership program; creating a community through sponsorship in local running events and others. ...

Solution Summary

Describe activities for each CRM plan characteristics. References are included.