Customer Life Cycle Management Research Articles

The Effect of Customer Life Cycle Management on Firm Performance within the Insurance Industry in Harare, Zimbabwe

The Effect of Customer Life Cycle Management on Firm Performance within the Insurance Industry in Harare, Zimbabwe

MODELING THE INTERDEPENDENCE OF MARKETING AND ACCOUNTING INFORMATION SYSTEMS

This paper presents a model of interdependence of marketing information system and accounting information system activities, with the aim of harmonizing them while identifying activities on the basis of which the goals of information support for the execution of managerial tasks are completed. The lack of effort to create such models in the past can be explained by the tendency to present individual information systems as integral and sufficient for management needs. However, the growing management informational dependence of a company implies the need for more efficient ways to create and deliver relevant information and reports. The proposed model is based on a general management concept according to which, under the contemporary business conditions, three general groups of activities are performed: research and monitoring of market requirements, creation of value for customers based on previously identified needs and customer relationship management, and customer lifecycle management. On the basis of such grouped management tasks, marketing and accounting activities and their mutual conditionality were identified and unified though the proposed model.

Managing customer life cycle through knowledge management capability: a contextual role of information technology

Knowledge management (KM) capability has been influential in explaining customer relationship management (CRM) performance. However, how it affects every customer's touch points is beyond the current literature. In this research, customer life cycle management (CLCM) is employed to examine the interrelationships of KM and CRM performance. By focusing on CLCM as part of a broad CRM initiative, this research aims to explore KM capabilities that affect CLCM and relate them with overall CRM performance. With the moderating role of information technology (IT), results show that every KM capability variable has a different effect on each phase of CLCM, and hence on customer satisfaction and loyalty. This study offers insights for managers in their efforts to further improve their CRM through looking at CLCM.

Customer Life Cycle Management- Time and Beyond…- Expertise recognized by clients, Analysts like.

The marketing mix management paradigm has dominated marketing thought , since it was introduced 40 years ago. New approaches are making their presence, thus setting an era trumpeting loudly the emergence of new stream of Marketing Relationship Marketing calling for understanding consumers individually and their association with the Organization over a long term, thereby creating a phenomenon called Customer Life Cycle Management. In view, businesses have adopted applying Customer life Cycle Management to customers and users experience. This embodies the notion of suspects who potentially may benefit from acquiring a physical product, non-physical product and/or service offering but may not be aware of it, :'prospects' who may be ready, willing and able to acquire an offering and need to decide on a purchase: actual customers who were prospects who 'signed up': repeat customers who made more purchases and use more than one product or 'value proposition' Leadership comes from providing these customers, users and network 'players' with excellent appropriate experiences throughout customer life cycle. Index Words: Customer, Consumer behavior, Intangible associations, Marketing thought, Prioritizing systems

Contributors

Contributors

Customer retention management in the recession

The purpose of this article is to explore customer retention strategies and tactics implemented by firms in recession. Our investigations show just how big a challenge many organizations face in their ability to manage customer retention effectively. While leading organizations have embedded real-time customer life cycle management, developed accurate early warning systems, price elasticity models and ‘deal calculators’, the organizations we spoke to have only gone as far as calculating the value at risk and building simple predictive models.

Multi-channel customer management: Delighting consumers, driving efficiency

In today's maturing consumer markets, emphasis is shifting from straightforward sales to a more holistic approach to customer life cycle management, with a stronger emphasis on how sales are generated and service provided all along the customer journey. Effectively managing these different marketing, sales and service channels poses a significant challenge. Companies need new strategies, structures, processes and tools to deliver customer value across all channels. A multi-channel, integrative customer model that delivers customer value and significant return on investment (ROI) requires both a strong understanding of customer preferences and behaviours and a robust IT architecture that supports the overarching customer relationship management (CRM) strategy. Even those organizations that have embraced the need for sophisticated multi-channel orchestration often still fall short in their execution. We offer strategic guidelines in four areas to ensure success with multi-channel orchestration. First, marketing operations need to explicitly define a channel strategy with respect to customer segmentation, the channel journey (how and where sales and services are delivered) and targeted incentives that reward multi-channel sales and service support. Secondly, marketers need to optimize the online channel, which is fast becoming the primary platform for accessing product and service information, and completing an ever-growing number of transactions. It is also the entry hub to other touch points; customers go online to contact the company or to find store locations or telephone numbers. Thirdly, companies need to build an IT foundation that underpins their CRM strategy. This CRM IT architecture needs to enable the transformation from vertical, single-channel operations to true horizontal business processes that deliver cross-channel integration. Fourthly, marketers can learn by example. Companies across the consumer products spectrum are experimenting with the multi-channel experience. Marketers should broadly consider the best practices that they could adapt to their own industry.

The quality of customer information management in customer life cycle management

This paper reviews the detailed findings from empirical research into how well companies plan and manager the acquisition and use of customer data. The research shows that few companies reach good standards in this area, and so run the risk of their data not being able to support their CRM strategies and policies or indeed privacy or data protection requirements. The paper then turns to how data can be used to support the management of the customer life cycle, particularly when combined with advance analytics.