Customer relationship management June 2024

Description

Customer Relationship Management

June 2024 Examination

 

 

1. You are a CRM consultant. Your new clients have been asking about the future roadmap of CRM, what benefits and value would it add to the organization and what risks can it face because of implementing CRM. What would be your perspective on the future roadmap of CRM? (10 Marks)

Introduction

Customer Relationship Management (CRM) systems are pivotal in shaping how organizations manage their interactions with current and potential customers. As digital transformation continues to evolve, CRM technologies have moved beyond mere databases of customer information to become comprehensive tools that enhance customer engagement, optimize marketing strategies, and improve service delivery. The future roadmap of CRM is geared towards leveraging advanced analytics, artificial intelligence (AI), and integration with It is only half solved

 

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2. CRM can be  implemented  around  marketing,  sales,  and  services.  Give  two business examples each on how implementing CRM can be beneficial for your organisation in the area of marketing, sales and services.      (10 Marks)

Introduction

Implementing Customer Relationship Management (CRM) systems across marketing, sales, and services can significantly enhance the operational efficiency and customer satisfaction levels within an organization. CRM systems facilitate a deeper understanding of customer behaviors and preferences, enabling businesses to tailor their strategies

 

 

3. You have started your new company. You intend to start a loyalty program for your customers. (Take necessary assumptions)
4. What will you keep in mind before designing the loyalty program? (5 marks)

Introduction

Starting a loyalty program is a strategic decision aimed at enhancing customer retention and increasing sales. In designing such a program for a new company, several key factors must be considered to ensure its effectiveness and alignment with business objectives. This approach not only fosters customer loyalty but also strengthens the brand’s value proposition.

Concept and Application

Before

 

b.What are the kind of loyalty programs that you can think of for your business? (5 marks)

Ans 3b.

Introduction

For a new business, implementing an effective loyalty program is crucial for cultivating lasting relationships with customers and differentiating itself in the market. The type of loyalty program selected should align with both the business model and the customer base’s expectations, ensuring it is engaging, rewarding, and reinforces the brand’s values. Different types of loyalty programs can be tailored to various business objectives, such as increasing