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7/9/13

Capital One

Analy&cal CRM

According to Morris and Fairbank, why is credit card business an informa9on business and not just a financial business? What are the key steps in the “Test and Run” approach to campaign management? What does it take to effec9vely run a Test and Run strategy?

© Uday Kulkarni 2013

Uday Kulkarni

Analy&cal CRM !

Eye-­‐opening Sta&s&cs1 !

!

Component of CRM that relates to mining and interpreta4on of data for making effec4ve customer-­‐related decisions Companies that use Analy4cal CRM usually garner as much customer-­‐related data as possible to understand their customer on mul4ple dimensions

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Loyal customers contribute dispropor4onately more to profitability (It takes 6 4mes more effort to acquire a new customer) Dissa4sfied customers result from poor service; each will tell 9 others 70% of the dissa4sfied customers will be sa4sfied if a complaint/issue is quickly addressed 1 unsupported

by formal data

CRM for Customer Loyalty “Instead of trying to find new customers for products you’ve already got, you find new products for the customers you’ve already got” – Seth Godin in Permission Marke9ng…“…And once you do that, everything in the company becomes
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