Driving Business Performance Through CRM
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CRM & customer experience – customer relationship, satisfaction & loyalty Successful companies in today’s competitive business environment keep customers central to their business strategy. Businesses should therefore focus on building long term customer relationships and concentrate on customer satisfaction in order to remain competitive.
Fine tuning its customer relationship marketing (CRM) initiatives requires that a company must practice good Customer Experience Management (CEM), the goal of which is to optimize interactions from the customer’s perspective. This challenge has become even more relevant with the dynamic changes taking place in the market (such as the evolution of a digital world).
This program will explore the importance of CRM and how it may help a company improve its bottom line performance. It will also explore strategic options in managing Customer Experience as part of a more comprehensive CRM initiative.
- Appreciate the value of shifting from a product-centric business to a customer-centric model in improving business performance
- Develop an understanding of how effective Customer Experience Management initiatives facilitate customer acquisition, retention, and growth in order to maximize customer value
- Appreciate the use of CRM and market analytics for improving business performance
- Utilize customer journey maps in designing a customer-centric marketing strategy
Upon completion of the program, participants will receive a certificate of participation issued by HKUST Business School.
How CRM provides competitive advantage
- Business Drivers: Customer performance drives bottom line performance
- Types of CRM
Components of a CRM Program
- Market segmentation and targeting
- Attracting valuable customers, and increasing the retention and “development” of high-value customers
- The importance of data analytics in CRM and strategic marketing
Measuring the Effectiveness of the Company’s CRM Program
- The cost (and benefits) of effective acquisition, retention and growth
- Performance metrics and KPIs in a CRM world
Strategic Pathways to a Successful CRM
- Customer satisfaction concept and drivers
- Optimizing customer experience
- CRM and marketing strategy
Trends and Best Practices
- Market dynamics affecting CRM approaches
- Selected company/organizational highlights: Lessons learned from success and failures
- Experience sharing by industry speaker
Case studies and interactive exercises will be the main pedagogical tools to be used in delivering this program.
Who should attend
This program will benefit middle to top management executives, sales and service managers, partnership and relationship manager, project managers, and team leaders.