Online Ad Lingo: from 1:1 to CRM

1-to-1

a.k.a. 1:1, one-to-one

A marketing concept created by authors Don Pepper and Martha Rogers and turned into a marketing consultancy empire, 1-to-1 marketing espouses personalization and customization in building relationships with customers. Outside the Pepper and Rogers world, it's called customer relationship management (CRM).


NetLingo The Internet Dictionary

Customer Relationship Marketing
not the same as CRM

A 1-to-1 marketing model in which all of the information about a customer, gathered throughout the history of that customer's relationship with the company, is used to market to that customer in a way that promotes trust, loyalty, and therefore, increased sales.

Customer Relationship Marketing is not the same as Customer Relationship Management (CRM).


NetLingo The Internet Dictionary

CRM (Customer Relationship Management)
a.k.a. customer intelligence -or- e-business relationship management -or- e-CRM -or- personalization

A business discipline designed to identify, attract, and retain a company's most valuable customers. It describes improved and increased communication between a company and its customers. First espoused in the 1960's by management gurus Peter Drucker and Theodore Levitt, CRM is intended to provide a unified, company-wide view of the customer and to cultivate high-quality relationships that increase loyalty and profits. Basically, the idea is not to let an interaction with a customer escape a firm's centralized database. The focus is on learning more about customers and using that knowledge to refine every interaction with them.

Effective CRM requires an integrated sales, marketing, and service strategy, supported by CRM software that provides profiles and histories of each interaction the company has with each customer. When managers cull this data, it helps them evaluate their progress. A comprehensive CRM strategy can anticipate needs; tailor messages, products, and services; create value; anticipate problems; and improve the customer's overall experience in dealing with the company. Welcome to 21st century business!

Brought to you by NetLingo - Improve Your Internet IQ



0 comments:

Post a Comment