客户关系管理Chapter 1 (3)

⇒ MUST LOOK AT THE ECONOMICS OR VALUES OF RELATIONSHIPS
⇒“
RELATIONSHIP ECONOMICS”
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Slide 4.1
CRM RELATIONSHIP ECONOMICS
Francis Piron, Ph.D., Shantou Business School, Spring 2011
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson EdLATIONSHIP ECONOMICS
• SEVERAL INCONSISTENCIES WITH RETENTION ECONOMICS • WIDELY SUGGESTED THAT CUSTOMER RETENTION IS BENEFICIAL IF FRONT-END COSTS OF CUSTOMER ACQUISITION >COST OF RETENTION • FRONT-END COSTS:
Slide 4.7
Typical profit pattern in financial services & other high acquisition cost industries
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Slide 4.8
RELATIONSHIP ECONOMICS
• ECONOMICS OF RETENTION STRATEGIES
• RM APPEARS AN EXPENSIVE ALTERNATIVE TO MASS MARKETING
• IN INDUSTRIES WHERE HIGH FRONT-END COSTS ARE INVOLVED, SUCH COSTS ARE DRIVERS TO RELATIONAL STRATEGIES THAT PROMOTE CUSTOMER RETENTION • WHERE ACQUISITION COSTS ARE LOW, RELATIONAL STRATEGIES MAY BE A BURDEN • LONG-TERM BENEFITS CAN BE IN TERMS OF:
– RELATIONSHIP STAGES – LIFETIME VALUE OF CUSTOMERS
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Slide 4.9
– – – – – HIGH COST OF PERSONAL SELLING COMMISSION PAYMENTS COST OF DETAILED INFORMATION GATHERING SUPPLY OF EQUIPMENT ADVERTISING & COMMUNICATIONS EXPENSES
– – – – – – – SEARCH COSTS LEARNING COSTS EMOTIONAL COSTS INERTIAL COSTSRISK SOCAIL COSTS FINANCIAL COSTS LEGAL BARRIERS
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Slide 4.12
RELATIONSHIP ECONOMICS
• VALIDITY OF RELATIONSHIP ECONOMICS … LOTS OF “Ifs’ • IF THE FACTORS ARE RIGHT AND IF THE DRIVERS TO RELATIONAL STRATEGIES ARE IN PLACE, THE BENEFITS WILL BE FORTHCOMING
Slide 4.3
RELATIONSHIP ECONOMICS
• IN TRADITIONAL MKTG (TM): SELF-INTEREST & COMPETITION ARE THE DRIVERS OF VALUE CREATION • IN RELATIONSHIP MKTG (RM): MUTUAL COOPERATION DELIVERS VALUE CREATION • COMPANIES THAT ADOPT RM MUST SUSTAIN PROFITABILITY • SINCE “THE LANGUAGE OF MGMT IS MONEY”, HOW DOES RM PAY OFF?
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Slide 4.10
Relationship ladders or stages
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
• HIGH FRONT-END-COST INDUSTRIES: BANKS, SERVICES
– => HIGH COST OF ACQUISITION
• LOW FRONT-END-COST INDUSTRIES: FMCG
– => LOW COST OF ACQUISITION
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
RELATIONSHIP ECONOMICS
• RELATIONSHIP STAGES
– AWARENESS ONE PARTY RECOGNIZES THAT THE OTHER PARTY IS A “FEASIBLE EXCHANGE PARTNER” – EXPLORATION RESEARCH & TRIAL STAGE; CONSIDERATION OF OBLIGATIONS, BENEFITS & BURDENS – EXPANSION CONTINUAL INCREASE IN BENEFITS OBTAINED BY PARTNERS – COMMITMENT – DISSOLUTION RELATIONAL CONTINUITY BETWEEN PARTIES
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Leaky bucket theory
Egan, Relationship Marketing Power Points on the Web, 3rd Edition © Pearson Education Limited 2008
Slide 4.5
RELATIONSHIP ECONOMICS
• CUSTOMER ACQUISITION • CONTINUOUS NEED FOR NEW BLOOD • 21st Century: LOW OR <0 POPULATION GROWTH • => CUSTOMER ACQUISITION WILL BECOME MORE DIFFICULT • CUSTOMER RETENTION • RM ENCOURAGES RETENTION MARKETING 1st & ACQUISITION MKTG 2d • CUSTOMER RETENTION IS PERCEIVED AS OFFERING SIGNIFICANT ADVANTAGES (MUCH CHEAPER THAN CUSTOMER ACQUISITION) • LONGEVITY OF RELATIONSHIPS ALSO A PROFIT POTENTIAL
Slide 4.11
RELATIONSHIP ECONOMICS
• LIFETIME VALUE: SHOULD CONSIDER THE INCOME DERIVED FROM THAT COMPANY’S LIFETIME ASSOCIATION WITH THE CUSTOMER • CLV SHOULD BE A BASIS FOR RETENTION ANALYSIS • CLV: THERE IS NO GUARANTEE THAT A CUSTOMER WILL CONTINUE PATRONIZING AT THE SAME RATE • CLV CAN BE INCREASED BY BUILDING BARRIERS TO EXIT = SWITCHING COSTS:
Slide 4.2
RELATIONSHIP ECONOMICS
• LIMITED AGREEMENT ON DEFINITION OF RM • PROFITABILITY, ULTIMATELY, MUST BE THE FORCE BEHIND ANY STRATEGY DEVELOPMENT