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  • Customer Relationship Management
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  • Recency, Frequency, and Monetary Value (RFM)
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Customer Relationship Management

Readings

Why Service Stinks, Business Week

A (rather opinionated) cover story article from Business Week lamenting poor service concludes that service is increasingly dependent on how valuable a customer you are.

Winning Customer Loyalty is the Key to a Winning CRM Strategy, Ivey Publishing

Co-authored by Fred Reichheld (noted for his books on The Loyalty Effect and, more recently, the Net Promoter Score), this article highlights some of the pros and cons recently experienced by firms embracing CRM.

This is a Marketing Revolution, Fast Company

This article describes Capital One's aggressive use of customer data - resulting in both increased revenues and decreased costs.

The Perfect Message at the Perfect Moment, Harvard Business Review, Nov. 2005

Customer Segmentation Done Right, CIO Magazine, Oct. 1 2005

Smart Data, Smart Decisions, Smart Profits: The Retailer's Advantage, McKinsey

CRM in the air, McKinsey Quarterly

If a Telecom's Customers Really Were its Assets, Mercer Management

Vegas Casinos Bets on RFID, CNETnews.com

The Dark Side of Customer Analytics, Harvard Business Review, May, 2007

CRM Done Right, Harvard Business Review, November 2004

A recent HBR article characterizing the growing number of CRM successes.

Emerging Marketing, McKinsey Quarterly, 2002

The point of this article is that companies don't need state-of-the art tools and armies of experts to use CRM effectively - but that success is closely related to the number of tests run.

Avoid the Four Perils of CRM, Harvard Business Review, 2002

Some good parting advice about how to avoid becoming another casualty of CRM!

Then, Now and Tomorrow: The Transformation of Customer Relationship Management, Defying the Limits, 2004

Some final thoughts about how CRM has, and continues, to evolve.

Optional Links

A Measure of Success, Business 2.0

This article identifies seven key elements needed to make effective use of customer data.

Credit Card Revolutionary, Stanford Business, May 2001