Analyzed m-coupons in this area would generate information on how well the products are doing. Information gathered could consist of what the customer did/didnt like or when to promote different/seasonal specials. Tracking m-coupons can prove to be beneficial no matter who receives them or act on them because m-coupons forwarded to other people can only increase our customer base.
Customer Relation Management
Customer relationship management (CRM) involves managing all aspects of a customers relationship with an organization to increase customer loyalty and retention and an organizations profitability...CRM is a business philosophy based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future (Baltzan & Phillips, 2009).
The behaviors of customers have changed the way businesses compete. Customers will leave if a company does not continually meet their expectations. They are more demanding because they have information readily available, they know exactly what they want, and they know when and how they want it (Baltzan & Phillips, 2009).
Customer behaviors can also help businesses.
An organization can find its most valuable customers by using a formula that industry insiders call RFM-Regency, Frequency, and Monetary value Once a company has gathered this initial CRM information, it can compile it to identify patterns and create marketing campaigns, sales promotions, and service to increase business Knowing the customer, especially knowing the profitability of individual customers, is highly lucrative There are 3 phases in the evolution of CRM: (1) reporting, (2) analyzing, and (3) predicting. CRM reporting technologies help organizations identify their customers across other applications. CRM analysis technologies help organizations segment View More »