The company collects customer information at every point wher eit contacts a customer-sales, loyalty programs, surveys, direct mail advertising, sales promotions (contest and sweepstakes) and affiliate programs wit h flosrists, credit card companies, and airlines, and uses it to crearte customizedd communications and product offerings for each of the customers in the database. A sophisticate4d segmentation system that analyzes transactional behaviors (recency, frequency, and monetary) and combines it with gift-buying behaviors.
Before a relatioinshiop can be mutually beneficial to both the firm and the customer, it must provide value to both parties. Creating this value is the goal of customer relationship management, which is a business philosophy aimed at defining and increasing customer value in ways that motivate customer to remain loyal.
Supply Chain Partners
“acquiring customers to maintaining customers”
Relationship capital- that stems from the value generated by trust, commitment, cooperation, and interdepndence among relationship partners. Customers must become true believers or sponsors for the company and its products. In consumer markets, build customer relationship is to increase the firms share of customer rather than its market share. Abandoingn the old nations of acquiring new customers and increasing transactions to focus on more fully serving the needs of current customers. Financial services example. Relationship in product offerings.
80/20: The ability to track customers in detail can allow the firm to increase sales and loyalty amon the bottome 80 percent of customers. The goal is rank the proiftabiliy of individual cusomers to express their lifetime value.
Developing Relationships in Business Markets
Goal is to move business buyers through a sequence of stages, where each stage represetnss an increasing level of relationshiop intensity. Bound to their supply chain partners. Relationshiop capital: One firam maintains a loyal and committted cusomter, the ogther maintains a loyal and committed suppliers. Relatiohship developiment in buysiness marekts can be more involving, more compolex, and much riskier than relationships in consumer markets.
- A change in Buyers and Sellers Roles
- An increease in Sole souring
- An increase in global sourcingf
- An increase in Team-based Buying Decisions
- An increase in Productivity through better integration
Quality and Value: Keys developoing Customer Relationships
How to make infographics:
Strategic thinking is defined as the generation and application of business insights on a continual basis to achieve competitve advantage. New growth comes from new thinking. Strategic planning is the channeling of the insights generated by strategic thinking into an action plan to achieve goals and objectives. There are 4 types of strategic thinkers:
- Beach bums ar managers who don’t contribute insights to the business.
- Snorkelers are managers who offer tactical solutions to issues, but their solutions don’t have a significant positive impact on the business.
- Scuba divers are managers who can produce strategic insights for solutions, but they require instruction and assistance to do so.
- Free divers are managers who, on a regular basis, generate insights that have significant impact on the businesses.
10 strategic thinking skills:
1. Mastering the three criteria of great strategy: acumen, allocation, and action. Consider your daily activities. How often do you have the opportunity to come up with insights that change the course of your work? What level of effect do those insights have on your business? What type of strategic thinker are you currently—a Beach Bum, a Snorkeler, a Scuba Diver, or a Free Diver? Consider your colleagues in the department. What percentage are Beach Bums? Snorkelers? Scuba Divers? Free Divers? How Deep Can You Dive? Successful business strategy is about being better than the competition. You need to have the “right people on the bus.” Be different from the competition.
2. Insight: generating new ideas about the business.
3. Context: understanding the current situation. Context is defined as the specific problem in a given business situation. The circumstances in which an event occurs. The combination of strengths and weaknesses an organization possesses to balance with opportunities and threats.
4. Competitive Advantage: creating distinct offerings with superior value. Reduce prices to drive out competition. Change the customer’s value preferences. Benchmark competitors and excel at best practices.
5. Value: determining the benefits/costs of the offerings. Revenue growth, gross margin, and return on capital are forecasting the future. Customer intimacy, operational excellence, product leadership, operational effectiveness, low-cost leadership, and innovation are all important in considering value.
6. Resource Allocation: deciding where to focus capital, talent, and time. Effective resource allocation will have profitability and productivity. Profitability is when more resources are invested in the right activities. Productivity is when fewer resources are invested in the wrong activities.
7. Modeling: visually capturing the essence of business issues.
8. Innovation: creating new value for customers.
9. Purpose: developing mission, vision, and values.
10. Mental Agility: the ability to improvise, adapt, and excel through adversity.
Pardot can crawl your site map, serve up relevant search results for your visitors, and provide reporting on their queries. Nothing shows a prospect’s intent like his searches on your website. If someone clicks around and finds their way to your pricing information, that is valuable to know, but if the prospect types in “pricing” as his exact search term, that is a much better buying signal. You can create a site search hosted by Pardot, or choose to integrate a third-party search.
The Google Analytics Connector is designed to simplify the flow of information between Google Analytics, Pardot and your CRM system. The connector will allow those using Google Analytics Keyword Tags in URLs to pass those tags into Pardot. Once the tags are in Pardot, the fields can be synced with a compatible CRM system, allowing you to use the CRM reporting features to run custom analysis on your tags.
Data will be collected from all five of the Google Analytics tags: campaign name, medium, source, content, and term. Optionally, you can enable the connector to create a new Pardot campaign based on your Google Analytics campaign tag. This will automatically generate a new campaign, if there is not already one by that name, for any new prospects coming in from tagged URLs.
Pardot will automatically generate bit.ly short links for landing pages, multivariate tests, and files. You will also see a reporting icon, which will display bit.ly’s statistics on the URL when clicked.
Filters allow you to exclude certain types of visits, clicks, or other actions from your campaign results and email notifications. The most common use of this would be to filter out your own company’s IP address to avoid skewing results.
Filters will also hide activities from a filtered prospect’s profile.
Everything associated with the following objects will be filtered:
- Visitor Activities
- Visitor Page Views
- Email Clicks