Messaging for Customer Relationship Management (DMC 674) examines customer relationship management (CRM) as a key strategic process for organizations. This class considers ways to assess the value provided by customers and optimize decisions designed to increase this value over time. We will explore the promise and perils of CRM with an eye toward understanding the optimal manner to incorporate CRM into everyday corporate practice. Real world examples and cases will be presented to illustrate how CRM can and has been used to change and build business, strategically and managerially.
Course Learning Outcomes
Upon successful completion of DMC 674, students will be able to:
- Define the role of customer relationship management (CRM) in driving customer retention and acquisition.
- Explain how CRM messaging can improve marketing, sales and customer support.
- Predict customer lifetime value and assess how an optimized messaging approach can build customer loyalty.
- Design a CRM message map to deliver targeted messages for customer engagement.
- Compare and contrast available multi-channel messaging platforms that are used to automate, target and personalize campaigns.
- Interpret real-time reporting to identify actionable insights.
- Understand the role that CRM plays in modern managerial decision making.
- Identify techniques that can be used to increase the value of customers to the company.
- Apply analytic procedures that allow optimal deployment of these techniques.
- Identify what technologies exist for increasing customer value and aiding managerial response.
- Understand the typical problems that companies encounter in updating their CRM strategy.
- The State of Customer Relationship Management
- Customer Value and Strategic CRM
- Implementing the Strategy and Analytics
- Data Mining and Database Management
- Loyalty Programs and Campaign Management
- Impact of CRM on Marketing Channels, Customer Relationship Management Issues in the Business-To-Business Context, and Customer Privacy Concerns
- Applications of CRM in B2B and B2C Scenarios