stands for customer relationship management system. As a rule, CRM comprises the process of collecting and analysis of customer knowledge used to increase sales and enhance the service level.
is an entity that uses the services of an organization.Customer Attributes
are items of customer knowledge. For example:
Marketing Campaign \ Communication \ Offering
- Average bill
- Frequency of monthly purchase
are promotional offers to customers made by an organization. For example:
- You have got XXX reward points valid until YYY.
- You have got XXX discount on YYY brand products.
A Communication Chain
is a subsequence of marketing campaigns.
A Loyalty Program
is a combination of marketing efforts aimed to increase customer value. A discount card is a bright example.Customer Clustering
aims to classify customers into groups based on similar customer behavior.A Recommendation System
is an engine that generates the best possible offers for customers, in terms of business value.LTV (lifetime value)
is the predicted profit attributed to the entire future relationship with a customer.