Customer relationship management
The funnel from lead to customer, the three sides of a CRM tool, recency-frequency-monetary segmentation, and five indicators.
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- 4 topics
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Customer relationship management: what is it?
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An approach and tool that gather everything the company knows about a customer and their dealings with it, to serve and retain them better.
The idea is a single customer history, available to every department, instead of one file per salesperson.
Before a call-out at a customer's site, a technician wants to know what the salesperson promised them at signing. Which side of the CRM tool makes this possible?
- The collaborative side
- The operational side
- The analytical side
- The decision-support side
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The collaborative side
The collaborative side shares customer information between departments. The operational side automates sales actions; the analytical side uses data to understand and predict.
In the sales funnel, a contact goes from lead to …, then to …, then to customer.
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In the sales funnel, a contact goes from lead to prospect, then to opportunity, then to customer.
Fewer remain at each stage: the funnel is used to see where the most contacts are lost.
Lead: what is it?
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A raw contact who showed interest or whose details were obtained, with no knowledge yet of whether a real need exists.
It is the top of the funnel: many leads, few of which become customers. Qualifying them saves salespeople time.