I was pointed to a post today on the topic of customer service (Another Day, Another Customer-Service Nightmare on the EconoWhiner) that pointed out that companies need to provide quality service and quality customer service if they’re going to survive an economic downturn as severe as this one? Now I am not going to pick [...]
retention
Last week I saw a post comparing Best Buy and Circuit City – one thriving and one going into bankruptcy – and it made me think about the role of decision management in Best Buy’s success. I have head Best Buy present various times an a number of elements of their successful customer-centricity strategy are [...]
CRM Daily had a nice little article on Customer Retention that reminded me of the example I often use for how the elements of decision management contribute to more effective customer retention decisions. Large organizations spend vast sums on retention – one bank, for instance, spends $1Bn annually – and retention is a perfect candidate [...]
An old friend sent me a link to an article on the Financial Times – How to survive an IT squeeze. I was struck by a couple of quotes: Scarcity of capital will generate increased competition for the cash that is available. Consequently it will be even more important that businesses do everything they can [...]
Eric Siegel, who is chairing the new Predictive Analytics World show, presented on predictive analytics and business rules. Predictive analytics, says Eric, is a business intelligence technology that products a predictive score for each customer or prospect … and explanations thereof. These scores come from predictive models that are developed across your historical data. This [...]
Graham Hill wrote a piece on Evidence-based CRM that focused on evidence-based CRM programs and it made me think about evidence-based CRM processes. To me, evidence-based CRM means customer relationships, and thus customer treatments, that are based on evidence (data) and not judgment, hope, guesswork etc. It means making offers that you have evidence this [...]
Last week I was invited to attend Chordiant‘s European Customer Advisory Board. This session was held in lovely Munich in the middle of Oktoberfest and was both informative and a lot of fun. While I can’t share everything – some of it was for customers only – I thought you would appreciate what I could [...]
1:1 had a nice piece on the growing role of loyalty programs in retail. This noted the “Growing sophistication in loyalty programs” among retailers and, in particular, the use of loyalty program data not just to calculate lifetime customer value but also to build competitive advantage. This second aspect is the one I always find [...]
