4.10 customer management(2)
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CustManagement_w15_IntroducingCW2_v4_2024pptx-Copy1.pptxCustomer Management
Introduction to Coursework 2
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Learning Objectives
By the end of this session you should develop a good understanding of Coursework 2.
Coursework Two
Deadline: Wednesday 1st May 2024, by 12pm (NOON) UK time, via Turnitin
Word Count: 1,500 words (+/- 10%)
Weighting: 50%
Coursework 2
Learning Objectives to Be Assessed:
Make recommendations on how an organisation can improve its CRM performance and profitability
Develop problem solving and decision-making skills
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In Coursework 1, you have assessed the customer management competence of a chosen company, and identified its strengths and weaknesses in managing its customers.
With Coursework 2, you will make recommendations to your company on how it can improve its CRM performance and profitability.
Section 1 (750 words; 50 points)
Three Smart Objectives and Digital Strategies
Section 2 (550 words; 35 points)
Marketing Metrics
Section 3 (200 words; 10 points)
Conclusions
Report Presentation (5 points)
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Section 1 (750 words; 50 points) Based on your research and analysis in Coursework 1, you will identify THREE SMART objectives and recommend THREE digital strategies that will help your company build and develop profitable long-term relationships with their target customers.
Objectives are about “Where do we want to be in the future?” (such as “in 2 years time”)?
Informed by your discussion in Coursework 1, formulate three SMART objectives.
They should be relevant and meaningful for the chosen organisation.
Customer acquisition / retention / development targets
Customer satisfaction targets
Site visit / duration targets
Number of engaged customers
Examples of SMART Objectives
Objective 1. Engagement: Achieve 3% of existing customers to interact socially with the brand in the next two years.
Objective 2. Acquisition: Increase brand visibility by 5% from January 2024 through to December 2024.
Objective 3. Development: Increase email frequency from one email per quarter to one email per month from January 2024 through to September 2024.
SMART Objectives
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Strategy is about how you plan to get there in terms of fulfilling the objectives set.
One strategy should be formulated for each objective; so a total of three DIGITAL strategies.
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Source: Smart Insights (2021)
Objective 1. Engagement: Achieve 3% of existing customers to interact socially with the brand in the next two years.
Understand how existing customer interact with the brand in general and on its social media platforms.
Objective 2. Acquisition: Increase brand visibility by 5% from January 2024 through to December 2024.
Increase the brand presence within identified online channels that target a specific consumer segment. What is the most cost-effective route to market? Are you reaching your key customer segments? Where can the brand name get increased exposure? Research your competitors and understand what online marketing tools they are using.
Objective 3. Development: Increase email frequency from one email per quarter to one email per month from January 2024 through to September 2024.
How is the company currently communicating with its existing customers? Which of your competitors have implemented email marketing with its customers?
This is an example.
Highlighted text is about what to consider when formulating a strategy for each objective set.
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Digital Marketing Channels That Can Be Used According To Business Requirements
Search Engine Optimization (SEO)
Content Marketing
Social Media Marketing
Paid Advertising
Email Marketing
Video Marketing
….
Marketing Automation lecture
Justification should be provided for each proposed objective and strategy.
Organisation
Competitors
Market trends
Literature
We recommend min 10 good quality sources (academic & practitioner) for Section 1.
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In order to be able to propose meaningful and outstanding digital marketing strategies, you should research your company, its competitors and industry.
Customer satisfaction
Customer commitment and loyalty
Customer value
Customer segmentation
Word-of-mouth & e-WOM behaviour
Customer experience
Customer engagement
Social media customer services
Digital CRM; Social CRM
Marketing automation
Some of the key marketing constructs
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Section 2 (550 words; 35 points) Metrics Analysis
Organisations use a number of metrics to evaluate the success of their customer service. Most commonly used metrics are:
Net Promoter Score (NPS)
Customer Acquisition Cost (CAC)
Customer Lifetime Value (CLV)
CAC-to-CLV
Customer Satisfaction Score (CSAT)
Customer Effort Score (CES)
Customer Retention Rate
Revenue Churn
First Contact Resolution
Average Ticket Time
In Section 2, you are asked to:
identify five metrics from this list and present their definitions in a table.
discuss how companies in general can use these metrics when evaluating their customer management strategies.
connect digital strategies identified in Section 1 with these five metrics.
We recommend min 5 good quality sources (academic & practitioner) for Section 2.
Section 3 (200 words; 10 points) Conclusions
This section is a brief summary of your report, highlighting how your company would benefit from integrating digital CRM. This could be in relation to benefits to its customers (such as offering a higher value), or cost efficiency (due to marketing automation for example). Alternatively, you can discuss the key challenges the company can face in their digital CRM integration. The conclusion should be supported and logically draw upon the discussions in previous sections.
| Section 1: SMART Objectives and Digital Strategies | 50 points | |
| SMART Objectives | 20 points | |
| Digital Strategies | 30 points | |
| Section 2: Metrics Analysis | 35 points | |
| Section 3: Conclusions | 10 points | |
| Report Structure & Presentation | 5 points |
Summary
Presentation of Your Report
Title Page (Title of the report, Student number, Module name & code, Tutor name, Submission date, Word count) (NOT part of word count)
Table of Contents (NOT part of word count)
Sections 1 to 3: included in word count
Reference List (NOT part of word count)
Appendices (if applicable) (NOT part of word count)
Tables, Figures, Graphs within the main body (NOT part of word count)
Please use ‘1.15 lines’ spacing and 11 point Calibri (default).
Word count is for Sections 1 to 3. Title page, table of contents, organisation summary, reference list, appendices, tables, graphs and figures used within the main body of the report are excluded from the word count.
Report needs to be structured well, professional looking, clearly expressed points in English, adopt careful punctuation and appropriate use of paragraphs (including the choice of terminology, spelling and grammar), and Harvard referencing.
When submitting your report on Turnitin, please use this as your Submission Title: “your student number-MARK3014-CW2”
How Can You Fit All These Into 1,500 Words?
Tables & Graphs are excluded from word count. Feel free to turn some of your discussion (especially when you need to compare & contrast your company with its competitors) into a Table and use bullet points to structure the discussion. Such tables / graphs should be presented in the main body.
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