Customer Relationship Management (CRM)
Strategic CRM concentrates upon the development of a customer-centric business culture.
The focus of a business on being customer-centric (in design and implementation of their CRM strategy) will translate into an improved CLV.
The primary goal of CRM systems is integration and automation of sales, marketing, and customer support. Therefore, these systems typically have a dashboard that gives an overall view of the three functions on a single customer view, a single page for each customer that a company may have. The dashboard may provide client information, past sales, previous marketing efforts, and more, summarizing all of the relationships between the customer and the firm. Operational CRM is made up of 3 main components: sales force automation, marketing automation, and service automation.
Sales force automation works with all stages in the sales cycle, from initially entering contact information to converting a prospective client into an actual client. It implements sales promotion analysis, automates the tracking of a client's account history for repeated sales or future sales and coordinates sales, marketing, call centers, and retail outlets. It prevents duplicate efforts between a salesperson and a customer and also automatically tracks all contacts and follow-ups between both parties.
Marketing automation focuses on easing the overall marketing process to make it more effective and efficient. CRM tools with marketing automation capabilities can automate repeated tasks, for example, sending out automated marketing emails at certain times to customers, or posting marketing information on social media. The goal with marketing automation is to turn a sales lead into a full customer. CRM systems today also work on customer engagement through social media.
Service automation is the part of the CRM system that focuses on direct customer service technology. Through service automation, customers are supported through multiple channels such as phone, email, knowledge bases, ticketing portals, FAQs, and more.
The role of analytical CRM systems is to analyze customer data collected through multiple sources and present it so that business managers can make more informed decisions. Analytical CRM systems use techniques such as data mining, correlation, and pattern recognition to analyze the customer data. These analytics help improve customer service by finding small problems which can be solved, perhaps by marketing to different parts of a consumer audience differently. For example, through the analysis of a customer base's buying behavior, a company might see that this customer base has not been buying a lot of products recently. After scanning through this data, the company might think to market to this subset of consumers differently, to best communicate how this company's products might benefit this group specifically.
The third primary aim of CRM systems is to incorporate external stakeholders such as suppliers, vendors, and distributors, and share customer information across groups/departments and organizations. For example, feedback can be collected from technical support calls, which could help provide direction for marketing products and services to that particular customer in the future.
Customer data platform
Main article: Customer data platform
A customer data platform (CDP) is a computer system used by marketing departments that assembles data about individual people from various sources into one database, with which other software systems can interact. As of February 2017 there were about twenty companies selling such systems and revenue for them was around US$300 million.
Kent is a county in South East England and one of the home counties. It borders Greater London to the north-west, Surrey to the west and East Sussex to the south-west, and Essex to the north across the estuary of the River Thames; it faces the French department of Pas-de-Calais across the Strait of Dover. The county town is Maidstone. It is the fifth most populous county in England, the most populous non-Metropolitan county and the most populous of the home counties.
Kent was one of the first British territories to be settled by Germanic tribes, most notably the Jutes, following the withdrawal of the Romans. Canterbury Cathedral in Kent, the oldest cathedral in England, has been the seat of the Archbishops of Canterbury since the conversion of England to Christianity that began in the 6th century with Saint Augustine. Rochester Cathedral in Medway is England's second-oldest cathedral. Located between London and the Strait of Dover, which separates England from mainland Europe, Kent has been the setting for both conflict and diplomacy, including the Battle of Britain in World War II and the Leeds Castle peace talks of 1978 and 2004.
England relied on the county's ports to provide warships through much of its history; the Cinque Ports in the 10th–14th centuries and Chatham Dockyard in the 16th–20th centuries were of particular importance. France can be seen clearly in fine weather from Folkestone and the White Cliffs of Dover. Hills in the form of the North Downs and the Greensand Ridge span the length of the county and in the Vale of Holmesdale in between and to the south are most of the county's 26 castles.
Kent's economy is greatly diversified: agriculture, haulage, logistics and tourism are major industries. Because of its relative abundance of fruit-growing and hop gardens, Kent is known as "The Garden of England". In northwest Kent, industries include extraction of aggregate building materials, printing and scientific research. Coal mining has also played its part in Kent's industrial heritage. Large parts of Kent are within the London commuter belt and its strong transport connections to the capital and the nearby continent make Kent a high-income county. Twenty-eight per cent of the county forms part of two Areas of Outstanding Natural Beauty: the North Downs and The High Weald.