Customer lifetime value

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1In marketing , customer lifetime value ( CLV or often CLTV ), lifetime customer value ( LCV ), or life-time value ( LTV ) is a prediction of the net profit attributed to the entire future relationship with a customer. The prediction model can be varied according to sophistication and accuracy, ranging from a crude heuristic to the use of complex predictive technical analytics .… Read More

Zendesk

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Zendesk Inc. is a global customer service software company headquartered in San Francisco , California, USA . [1] It is listed on the New York Stock Exchange with the ZEN symbol and is a constituent of the Russell 2000 Index . [2] Founded in 2007, the company now has over 2,000 employees and serves 114,000 paid customers in 150 countries and territories. [3] [4]… Read More

Customer value model

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A customer value model (CVM) is a data-driven representation of the value, in which the company is doing business. [1] [2] [ self-published source? ] Customer value models are used primarily in B2B markets where the choice of a given product, service, or offering is primarily based on customer value. Customer value is defined as Value = Benefits – Price. Thus, customer benefits are quantified in a CVM – product features and capabilities are translated into dollars. Customer value models are different from customer lifetime value models, which seek to quantify the value of a customer to its suppliers.… Read More

Customer switching

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In marketing and microeconomics , customer switching or consumer switching describes ” customers / consumers abandoning a product or service in favor of a competitor “. [1] Assuming constant price , product or service quality , counteracting this behavior in order to achieve maximum customer retention is the business of marketing, public relations and advertising . Brand switching -as opposed to brand loyalty is the outcomecustomer switching behavior .… Read More

Social CRM

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Social CRM ( customer relationship management ) is a social media service, technology and technology to enable organizations to engage with their customers. [1] [ better source needed ]… Read More

Customer retention

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Customer retention refers to the ability of a company or product to retain its customers. High customer retention means customers of the product or business, or to any other product or business, or to non-use entirely. Selling the company’s attempt to reduce customer defections . Customer retention starts with the first contact with a customer and continues throughout the entire lifecycle of a relationship and successful retention efforts. A company’s ability to attract and retain customers is their productor services, but also provides services to customers, the value the customers actually generate as a result of utilizing the solutions, and the reputation it creates within the marketplace .… Read More

Customer reference program

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Customer Reference Program (CRP, also referred to as a Customer Reference Program outside the US) is a business function frequently found in large business-to-business organizations. Customer Reference Program managers are responsible for gathering and fulfilling requests for references to help Sales people get new customers and provide proof of customer success stories for Industry Analysts and the media. Description Customer references ( testimonials ) are major buyers have frequently seek peer advice in purchasing high value products and services in Both business to business and consumer environments. Coordinated Customer Reference Program results in: • Less time spent by sales representatives looking for suitable customer references. • Avoiding overusing and under using valuable customer… Read More

Net Promoter

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Net Promoter or Net Promoter Score ( NPS ) is a management tool that can be used to gauge the loyalty of a firm’s customer relationships . It serves as an alternative to traditional customer satisfaction and claims to be correlated with revenue growth. [1] Fortune 1000 companies using the metric. [2]… Read More

Customer magazine

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A customer magazine is a magazine produced by a business as a means of communicating to its customers . It is a branch of custom media , a product that broadly shares the look and feel of a newsstand or consumer magazinebut is paid for in part by a business. Rather than copy sales and advertising, the primary goal of a customer is to achieve a particular business objective. This could be a cross-or-up, change brand perception or engender loyalty. In-flight magazines, sponsored by airlines, were among the first customer magazines, and remain typical of the genre. In the UK, every supermarketchain now provides a customer magazine to promote its products through recipes and other food editorial. Many… Read More

Customer lifecycle management

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Customer lifecycle management or CLM is the measurement of multiple customer related metrics , which, when analyzed for a period of time, indicate performance of a business. The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which includes all sources of static and dynamic data , marketing processes, and value added services to a unified decision supporting platform through iterative phases of customer acquisition, retention, cross and up-selling, and lapsed customer win-back. [1]… Read More

Lean consumption

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In the fall of 2005, James P. Womack and Daniel T. Jones published an article in the Harvard Business Review describing a new theory called Lean Consumption . [1]… Read More

Lead management

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Management is a set of methodologies, systems, and practices designed to generate new customer business potential, and is widely used through a variety of marketing campaigns or programs. Lead management facilitates business communication between its outgoing consumer advertising and the responses to that advertising. These processes are designed for business-to-business and direct-to-consumer strategies. Lead management is in many cases to precursor to sales management and customer relationship management . This critical connectivity facilitates business profitability through the acquisition of new customers, selling to existing customers, and creating a market brand. This process is referred to as customer acquisition management .… Read More

Lead generation

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In marketing , lead generation is the initiation of consumer information or services of a business. Leads can be created for such a list building, e-newsletter list acquisition for sales leads. The methods for Generating leads Typically fall under the umbrella of advertising, goal aussi May include non-paid sources Such As organic search engine results or from referrals Existing customers. [1]… Read More

Customer involvement management

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Customer involvement management , CIM , is a marketing management method that takes customer orientation further than customer relationship management . [1] CIM identifies and develops ways in the business and product development process, such as design, marketing, sales, customer service, etc. The degree of involvement can be a part of the product, experience, and delivery.… Read More

Interactive marketing

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Interactive marketing , sometimes called trigger-based or event-driven marketing , [1] is a marketing strategy that uses two-way communication channels to allow consumers to connect with a company directly. Although this exchange is taking place in the last decade, it has been largely taken over by email, social media, and blogs.… Read More

Customer intelligence

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Customer intelligence ( CI ) is the process of gathering and analyzing information about customers, and their details and activities, to build deeper and more effective customer relations and improve decision-making by vendors. [1]… Read More

Integrated customer management

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Integrated customer management (or its acronym, ICM ) is a business strategy for improving support by sharing information between discrete departments. ICM has three business principles: alignment, agility, and customer-centricity . The phrase “integrated customer management” was coined by Amdocs in 2004. In the communications industry, the phrase appears to be more common. For example, when reporting on the 3GSM World Congress in Barcelona in February 14, 2005, the Financial Times printed the headline: “Vendors unveil systems for the real world; Integrated customer management and boosting revenues are the main issues for operators. ” [1]… Read More

Function cost analysis

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Function Cost Analysis (FСА) (sometimes named function value analysis (FVA)) is the a method of technical and economic research of the systems for purpose to optimize a parity entre system ‘s (as product or services ) consumer functions or properties (aussi known as value ) and expenses to achieve those functions or properties.… Read More

Enterprise relationship management

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Enterprise relationship management or ERM is a business method in relationship management beyond customer relationship management . ERM – Enterprise Relationship Management is a business strategy for value creation that is not based on cost containment, but rather on the leveraging of network-enabled processes and activities to transform the relationships between organizations and their internal and external constituencies maximize current and future opportunities.… Read More

Marketing dialogue

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Dialogue Marketing Emerged in the early 2000s as companies engaged willing Consumers in year Ongoing dialogue to create lasting relationships . [1] For example, based on data, marketers invites groups of consumers to connect with the company. The commitment process provides value to both the consumer and the company. Marketers use these opportunities as data collection points. The companies use the data to further their marketingmessages and personalize the experience for their consumers and market segments. In exchange for sharing opinions, buying patterns , product preferences , etc., consumers receive perks such as discounts, tips, andfree trialsas well as appropriate messaging from the company. [2]… Read More

Customer to customer

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Customer to customer ( C2C ) markets provide an innovative way to allow customers to interact with each other. Traditional markets require business to customer relationships, in which a customer goes to the business in order to purchase a product or service. In customer to customer markets, the business facilitates an environment where customers can sell goods or services. [1] Other types of markets include business to business (B2B) and business to customer (B2C). [2]… Read More

Co-creation

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Co-creation is a management initiative, or form of economic strategy , which deals with different parts together (for instance, a company and a group of customers), in a mutually valued outcome. [1] Co-creation brings together the unique blend of ideas from the viewers who are not the direct users of the product.… Read More

Clienteling

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Clienteling is a technique used by retail sales associates to establish long-term relationships with customers based on their preferences, behaviors and purchases. [1] Clienteling is Intended to guide Associates to Provide Informed and more personal customer service [2] That May influences customer behavior related to shopping frequency, lift in average transaction value, and other retail key performance indicators. [3] From the customer’s perspective, customereling “could add a layer of personal touch” [4] to the shopping experience.… Read More

Angel and demon customers

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Angel and demon is a marketing concept dividing customers into two groups. [1] Angel customers are profitable , whereas demon customers may actually cost a company. [1] Demon customers try to extract as much value as possible out of the seller. [1] Examples of demon customer buying behavior:… Read More

Customer analytics

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Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics . This information is used by businesses for direct marketing, site selection , and customer relationship management . Marketing provides services in order to satisfy customers. With that in mind, the productive system is considered from its beginning at the production level, to the end of the cycle at the consumer. Customer analytics plays an important role in the prediction of customer behavior. [1]… Read More

After-sales

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After-sales is the provision of services, support and spare parts after making an initial sale. This OCCURS Often in the provision of complex machinery requires regular service qui Such As motor vehicles .… Read More

Customer acquisition management

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Customer acquisition management is the set of methodologies and systems to manage customer prospects and inquiries generated by a variety of marketing techniques. Various marketing techniques that are believed to be effective at Customer Acquisition include customer referrals, [1] customer loyalty programs , and participating in charitable events. Customer Acquisition Management can be considered the connectivity between advertising and customer relationship management . This critical connectivity facilitates the acquisition of targeted customers in an effective fashion. [2]… Read More

Customer relationship management

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Customer Relationship Management ( CRM ) is an approach to managing a company’s interaction with current and potential customers . It uses data analysis about customers’ history with a company and to Improve business relationships with customers, SPECIFICALLY focusing is customer retention and sales growth Ultimately driving. [1]… Read More