This approach focuses on understanding customer needs as individuals instead of as part of a group.
What is Customer Relationship Management?
100
This philosophy causes a company to customize its product and service offerings based on data generated through interactions between the customer and the company. It's all about the customer here.
What is a customer-centric philosophy?
100
Before Facebook, this was the social hub for online interaction. At its peak, it had 76 million unique visitors every month and generated over $470 million in advertising.
What is Myspace?
100
These blogs disseminate marketing-controlled information and are effective platforms for developing thought leadership, fostering better relationships with stakeholders, and attracting new customers.
What are corporate blogs?
100
It finds hidden patterns and relationships in customer data stored in the data warehouse; marketers must identify patterns of characteristics that relate to particular customers or customer groups.
What is data mining?
200
While 'mass marketing' scatters messaging far and wide across a spectrum of mass media, this approach requires CRM marketers to focus on ways to effectively communicate with EACH customer.
What is the Rifle Approach?
200
It's the ability that companies give their employees to negotiate mutually satisfying commitments with customers. Without it, employees can't do what they need to do in order to keep customers happy when something goes wrong.
What is empowerment?
200
Domino's most effectively used social media to do this with/to its consumers, which ultimately helped them redevelop their product line and launch an award-winning ad campaign.
What is listen?
200
"For Apple, the earnings report is the new product introduction" was posted here on Tuesday, April 23rd by @BW
What is Twitter?
200
This type of analysis generates a 'profile' or picture of the customer's similar demographic, geographic, and psychographic traits, as well as their previous purchase behavior.
What is customer segmentation?
300
It's the first step in initiating the CRM cycle.
What is identifying customer relationships within the organization.
300
This happens when a company and a customer actually exchange information, developing a 'learning relationship' so the company can procees valuable feedback that keeps customers happy.
What is interaction?
300
It's the 'real value' of social media, and is invaluable to marketers when trying to disseminate a message to wide audience.
What is exponentially leverages word of mouth?
300
Flikr, Picasa, TwitPic and Photobucket are all examples of these; they offer free photo hosting services and provide an opportunity to tell marketing stories in a new way.
What are media sharing sites?
300
Firms will identify the top 20% of their customer base by analyzing these three elements and assigning a score based on them.
What is recency, frequency, monetary analysis?
400
The value of customer data depends on these two things.
What is consistency and the system used to store it.
400
Examples of these include a customer registering for a particular service, a customer completing and returning a warranty card, and a customer talking with delivery people about products and services.
What is a touchpoint?
400
This occurs when companies use consumers to develop and market products - it describes how the input of many people can be leveraged to make decisions that used to be made by a few people.
What is crowdsourcing?
400
If you don't have a smartphone, you won't be able to crack this type of 'code' that takes the user to a specific website with content about (or discount for) specific products or services.
What is a QR (quick response) code?
400
This technology tracks the whereabouts of products anywhere around the world, helping to reduce the risk of theft and keep track of products while in the distribution channel.
What is RFID - Radio Frequency Identification technology?
500
Not all customers are equally important in the eyes of a business, so the company must do this in order to help make actionable decisions on pursuing leads.
What is identify profitable and unprofitable customers?
500
This is the measurement of how much a customer influences the behavior of other customers through recommendations on social media.
What is the net promoter score?
500
As one of the key objectives in social media, this is when companies will position themselves as helpful and benevolent by participating in other forums and discussions; they will also respond to comments and criticism.
What is manage your/their reputation?
500
The typical user of this kind of social interaction on the web is a 43-year-old woman with a full-time job and college education; and are most likely to do this with real-world friends or relatives as opposed to 'virtual' strangers.
What is social gaming?
500
Despite all the value that CRM can offer marketers, this remains the one thing that customers are most concerned with when it comes to companies capturing and storing their information.