A disciplined approach to managing the customer journey from initial acquisition to their transition to a high-spending, profitable, advocate for the company’s brands

The aspect of company-level strategy that advocates a customer-centric approach to identifying, winning, developing, and keeping profitable customers

The integration and automation of customer-facing processes such as selling, marketing, and customer service that create customer experience

The process through which organizations transform customer-related data into actionable insight useful for strategic and/or operational CRM

Allows marketers to use customer-related data to develop, execute, and evaluate targeted communications and offers across multiple channels

Event-based (trigger) marketing

Identifies significant events or triggers relevant to the customer as the basis of communications content

Marketing optimization

Targeting communications as precisely as possible to simultaneously maximize effectiveness and efficiency of marketing resources

Maintains positive relationships with current customers through insight and planned communication

Develops new sales leads through analytics and insights, and targeted communications

Opportunity management

Prioritizes sales opportunities and applies a workflow to coordinate sales, marketing, and operations activities to convert sales opportunities into new business

Profiles sales opportunities in terms of the types of products/services in demand, the timing of such demand, and recommends a suitable service approach

Maintains records of communications from and to potential, current, and previous customers

Product configuration

Through analytics and insight, recommends a product combination for a target customer

Quotation and proposal generation

Normally through a structured workflow, the application develops a new proposal or quotation for a specified product offering for a given customer

Case (incident or issue) management

Upon receipt of a customer enquiry, creates a record of a customer issue and generates a workflow to coordinate its resolution

Customer communications management

Includes mechanisms to receive customer messages and to convey information to the customer (such as status updates)

The system uses algorithms to identify the most efficient set of steps necessary to resolve the customer issue and subsequently allocates the issue (or parts thereof) to appropriate resources

Service level management

Monitors different service levels according to a set of pre-determined standards, identifies any deviations, and recommends remedies

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Chapter 1

Customer Relationship Management

Term	Definition
CRM	A disciplined approach to managing the customer journey from initial acquisition to their transition to a high-spending, profitable, advocate for the company’s brands
Strategic CRM	The aspect of company-level strategy that advocates a customer-centric approach to identifying, winning, developing, and keeping profitable customers
Operational CRM	The integration and automation of customer-facing processes such as selling, marketing, and customer service that create customer experience
Analytical CRM	The process through which organizations transform customer-related data into actionable insight useful for strategic and/or operational CRM
Campaign management	Allows marketers to use customer-related data to develop, execute, and evaluate targeted communications and offers across multiple channels
Event-based (trigger) marketing	Identifies significant events or triggers relevant to the customer as the basis of communications content
Marketing optimization	Targeting communications as precisely as possible to simultaneously maximize effectiveness and efficiency of marketing resources
Account management	Maintains positive relationships with current customers through insight and planned communication
Lead management	Develops new sales leads through analytics and insights, and targeted communications
Opportunity management	Prioritizes sales opportunities and applies a workflow to coordinate sales, marketing, and operations activities to convert sales opportunities into new business
Pipeline management	Profiles sales opportunities in terms of the types of products/services in demand, the timing of such demand, and recommends a suitable service approach
Contact management	Maintains records of communications from and to potential, current, and previous customers
Product configuration	Through analytics and insight, recommends a product combination for a target customer
Quotation and proposal generation	Normally through a structured workflow, the application develops a new proposal or quotation for a specified product offering for a given customer
Case (incident or issue) management	Upon receipt of a customer enquiry, creates a record of a customer issue and generates a workflow to coordinate its resolution
Customer communications management	Includes mechanisms to receive customer messages and to convey information to the customer (such as status updates)
Queuing and routing	The system uses algorithms to identify the most efficient set of steps necessary to resolve the customer issue and subsequently allocates the issue (or parts thereof) to appropriate resources
Service level management	Monitors different service levels according to a set of pre-determined standards, identifies any deviations, and recommends remedies

Created by: user-1917257

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