4.10 customer management(2)
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W17SeminarSlides1.pptxMARK3014 Customer Management
Week 17
Seminar Slides
SAME COMPANY
With Coursework 2, you will make recommendations to your company on how it can improve its CRM performance and profitability.
Coursework Two
Deadline: Wednesday 1st May 2024, by 12pm (NOON) UK time, via Turnitin
Word Count: 1,500 words (+/- 10%)
Weighting: 50%
Section 1 (1,300 words; 85 marks)
THREE Smart Objectives,
THREE Digital Strategies
THREE Marketing Metrics
Section 2 (200 words; 10 marks)
Conclusion
Report Presentation (5 marks)
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Today we’re going to help you formulate SMART objectives
Let’s go through your CW1 and take a note:
The company you have picked in CW1
List the strategies that you have identified:
Customer acquisition
Customer retention
Customer development
What’s unique about your company based on your research?
Do you think your company offers a good value proposition to its customers? If so, can you list them?
Is there particular consumer segment(s) that your company seems to be targeting?
Last Week
Now, let’s focus on its competitor (that you presented in Section 2 of CW1):
What are the similarities and differences between your company and this competitor?
Do you have good academic & practitioner evidence to support your argument?
Last Week
Finally, based on your research of the company and its competitors, let’s draft some tentative recommendations for your company in relation to customer strategies such as:
Customer acquisition target
Customer retention target
Customer development target
Customer satisfaction target
Customer experience target
Customer segmentation target
Number of engaged customers
Last Week
What to achieve?
By how much?
Until when?
SMART Objectives
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GOOD Objectives for CW2
Customer acquisition target
Customer retention target
Customer development target
Customer satisfaction target
Customer experience target
Customer segmentation target
Site visit, duration targets
Number of engaged customers
POOR Objectives for CW2
Sales related recommendations
Revenue, profitability related recommendations
Business expansion related recommendations
Product expansion, development related recommendations
WHAT TO DO TO FAIL!!!
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 2023 through to September 2023.
Objective Examples
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Looking at your analysis in CW1
The prep you did last week
Examples of good objectives presented in the lecture and on Padlet
W17 Seminar Activity: Drafting Your Objectives
Can you draft minimum THREE objectives for your company?
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Thank You
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