Beyond Marketing Customer Relationship Management (CRM).pptVIP

Beyond Marketing: Customer Relationship Management (CRM) Thursday 11:30am – 12:45pm One State: Together in the Arts Illinois Arts Alliance Foundation Illinois Arts Council Session Presenters Tim Sullivan Managing Consultant, ASPIRE - Total Customer Development Consulting and Delivery Firm. CRM and Interactive Marketing Pioneer and Innovator with 15 Years of Experience. Board Member, Customer Relationship Management Association – CRMA-Chicago. Jim Hirsch Vice President and Executive Director, Chicago Theatre and Chicago Association for the Performing Arts – CAPA. Session Goals Agenda Understand CRM, Components Strategies Understand CRM Best Practices, Value ROI Understand How Arts Groups Can Best Use CRM ? Arts Group CRM Success: A Customer and Competitive Necessity (25 min) Permission-Based E-Mail Marketing: The Future of Audience Development (25 min) QA (25 min) Arts Group CRM Success: A Customer and Competitive Necessity Why CRM is a Customer and Competitive Necessity It typically costs 5-10 times as much to acquire a new customer as it does to retain an existing one. “Some companies can boost profits by almost 100% by retaining just 5% more of their customers.” Harvard Business Review (Reicheld Sasser) A recent McKinsey study showed that the average new customer spends $24.50 at a given web site in the first 3 months as a shopper. The average repeat customer spends $52.50 every 3 months. Most companies lose 50% of their customers in 5 years (Harvard University) On average only 15% of a site’s customers consider themselves loyal to it. The loyalty rating among people who had experienced a problem was only 6%. Customers who had not experienced problems indicated a customer loyalty rating of 19%. The loyalty rating among customers who had experienced problems but were satisfied with the way they were handled: 21%. (Digital Idea) 70% of repeat purchases are made out of indifference to the seller, NOT loyalty. (eLoyalty) The