E-Crmelectronic Customer Relationship Management

This shapes all CRM functions and blends with integrity and the intelligence of the internet habitat. It is the prolific use of internet based communications such as Text/Chat rooms. A very efficient E-CRM strategy involves collecting customer information, transaction history and product information. The exclusive perks of E-CRM:

• Improved customer relations
• Matching the customers behaviour with suitable offers
• Greater efficiency and cost revenue
• Increased business revenue
• customer satisfaction and loyalty
• social networking influencers taking the time to review your strategyC2C and C2B formats
• C2C – Customer to customer formals represents a market environment where one customer purchases goods from another customer using a third party organisation on which a deal can be facilitated.

There are a new type of model that can be used with e-commerce technology. Online brand communities. C2B – The customer/business model can also be identified as a ‘Reverse Auction’ where the buyer gives to the seller, this also allows them to name and demand their own price, however this is often used by customers who want to bid for a specific product.

Digital Tribes

Digital tribe is a term used for an unofficial community of people wh share common interest, and usually who are loosely affiliated with each other through social media or other internet mechanisms.

Conclusion

Personally, my favourite choice of solution are loyalty members and E-CRM these are the 2 best decisions because they acquire very good resultsPrimary and secondary research. This is a very reliable way to acquire information form the general/online markets as primary research consists of research that you have conducted yourself and secondary research is gathered off the internet. The way you can measure reliability is through customer reviews and for the most part, if the review is clearly positive that source is highly regarded as reliable. You can however use leaflets and other forms of marketing such as posters to attract consumers since most people are attracted to displays and bright imagery when looked at through online research. Information collected about opinions and views is called qualitative data. Accurate market research helps to reduce the risk of launching new or improved products. Some businesses opt out of field research and rely instead on the know-how and instincts of the entrepreneur to ‘guess’ customer requirements. They do this because market research costs time and money. Existing business can make use of direct customer contact to help them identify changing fashion and market trends.

Use of web analytics

Analytics are meant to help you see not only the differences in data from week to week, but also to let you see the trends over time. But make sure you’re not drawing conclusions too quickly. Ensure that with the trends and segmentation, you can find what is driving people away from your sight. analytics gives you proof through the data. Analytics provides insight into which words are the big drivers to your site. It also not only shows you how many people searched the term, but also if they are new or returning visitors and how long they stayed. companies can get a more detailed understanding of consumer needs and attitudes and more precisely identify consumer segments, improving their ability to target the highest-value opportunities. They can measure the return on investment (ROI) for marketing spend across both traditional and newer marketing vehicles such as social media.Traditional market research tools and techniques

There’s a reason that surveys and polls have been used as market research touchstones for almost a full century: They work fairly well. Gathering data from traditional sources gets the job done, even if it’s not completely outstanding. Consider the reasons firms fall back onto traditional methods again and again: People get it. Surveys and polls are a known quantity. Those in the industry know how to ask the right question to assemble the necessary data, so it’s a comfortable, obvious way to mine thoughts and opinions.

Developing personas/scenarios

Beyond market segmentation, personas also help you identify people based on where they are in the sales funnel. For example, let’s say you’re running a gym, one of your personas might be James who loves cardiovascular endurance but hates lifting weights. then there's Bob, who also loves deep sea fishing and is in the market for an electronic reel so he can easily reel in fish from deep water. He's just not sure which electronic reel he wants to buy yet Jack is high up in the sales funnel because he's frustrated with his current tackle but he's not yet aware that electronic reels exist. Bob, on the other hand, is lower in the sales funnel because he's ready to buy. He just doesn't know which brand he wants to buy yet. You would probably target Jack and Bob with different marketing campaigns. You'd likely run a campaign to educate Jack about electronic reels whereas you'd try to convince Bob that your electronic reels are the best. If that is what you are selling. that's how personas help you target people at a specific point in the sales funnel.