There’s a new crypto-currency trading platform coming that aims to decentralize trading, speed up transactions and enhance security. They’re giving away 20 Free Bitmart Coins (BMX) to join their Free subscriber list. Use the coins to cover the costs when you start trading!
The New Platform will be up and running next month and enhance and execute the following:
Since the invention of Bitcoin, crypto-currency has promised to remove the middle-man in trading thus decentralizing the process and reducing transaction costs. And as of this writing, the value of one Bitcoin has reached over $10,000 which indicates how value the currency and the blockchain technology.
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Here’s a great article from Kissmetrics on utilizing CRM and Social Marketing to drive revenue and customer lifetime value:
It touches on these solid CRM, Marketing and Social techniques:
> Audience Segmentation and Targeting
> Return on Adspend (ROAS)
> Acquisition and Retention Rates
> A/B Testing
> CTR and CPC Rates
> Customer Lifetime Value
When all of the above are combined for the Baby business, success is derived to the tune of over 900% sales growth.
I came across this article (Advisers Lack CRM Knowledge) which is essentially a short factoid about CRM applications….and so true!
And I also believe the same to be true many other business systems outside of accounting since there’s typically a resource for every function (treasury, cost accounting, accounts payable, etc.) within that discipline. And what’s more is that with CRM, many can’t translate it’s value to the organization mainly because the data can be difficult to synthesize and interpret. This makes buy-in very challenging and leaves the CRM Manager with an uphill battle for obtaining resources and being a strategic priority.
Here are what I believe the keys are to overcoming the lack of CRM knowledge:
1) System Selection – Executives & Departmental managers must be involved in choosing the system.
2) Training – The entire “Business” must then undergo training so the benefits become more real.
3) Reporting – CRM Managers must identify critical system KPI’s and disseminate them regularly.
4) Acquistion & Retenion – CRM must be involved in these at every level (Stores, Web, Social, etc.)
In conclusion, there is a lack of knowledge and understanding for many outside of CRM, but this can be easily overcome through training and development and strong customer relationship managers.
CRM is used by a multitude of organizations in many different industries to drive customer acquisition and retention. The people who rely on CRM systems includes, but is not limited to, the following:
a) Executives – want to understand the value of customers and set strategy
b) Marketers – need to develop and execute marketing strategy
c) Sales Personnel – require help with managing contacts and selling products
d) Finance Departments – look for insights to sales drivers for planning
e) Customer Service Reps – have a tool to help improve customer satisfaction
f) Merchandise Teams – needs a deeper understanding of product purchases
Customer Relationship Management Link
CRM Managers and Analysts work with IT professionals to better understand the customer journey and provide the reporting, analysis, strategy and tactics necessary to drive improved sales and customer loyalty.
Wikipedia describes CRM as “an approach to managing a company’s interactions with current and potential customers…..to ultimately drive sales growth” (see full article here: https://en.wikipedia.org/wiki/Customer_relationship_management).
And to put it more simply, it’s using customer information and interactions to improve their experiences and drive sales! It’s basic premise is to learn as much as possible about customers so that you can provide them with exactly what they want at the right time. And with predictive analytics, some will argue that you can serve their interests before they’re even aware of the need. Of course, all of the information gathered to drive those experiences can also be utilized to gain new customers.
CRM is part art and science that’s theoretically utilized daily by brick and mortar sales associates as they learn individual customer behavior and combine it with POS data to bring about the ultimate shopping experience. And at a corporate level, the goal is to apply the same techniques across all customer touch-points (e.g. POS, Web, Social, Email, Call Center, etc.) to fully understand customers’ channels, preferences, transactions and interactions then provide a wow experience upon contact. If one can master this process, it should bring about heightened customer loyalty and improved value.
2017 Rock Digital, LLC