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Январь

CRM strategies and best practices

2021/2022
Учебный год
ENG
Обучение ведется на английском языке
5
Кредиты
Статус:
Курс по выбору
Когда читается:
2-й курс, 1 модуль

Преподаватель

Course Syllabus

Abstract

This course focuses on the study of customer relationship management (CRM) - one of the fastest growing areas of modern management. Having arisen at the intersection of marketing, services and information technology, CRM has become an essential component of the practice of modern companies. In the past few years, knowledge of the basics of CRM has become mandatory for employees of the company's departments, who not only interact directly with their customers, but also develop products and price proposals for them and are responsible for business automation. Unlike most training courses on CRM, which have a distinct IT-focus, this course is designed to form a comprehensive vision of CRM for the successful implementation of which, not only technical, but also various marketing and management aspects are also important. This course is dedicated to the study of both theoretical and practical aspects of the CRM. To study the latter, representatives of the well-known and most successful companies in the field of CDM development are invited to share the best practices in this area.
Learning Objectives

Learning Objectives

  • To form students' deep understanding of key strategic concepts of modern CRM
  • To teach students the best practices for using modern CRM operational and analytical tools
  • To give students an idea of how CRM projects are implemented in various industries and types of enterprises
  • To form students understanding of a key success factors and risks of CRM implementation
Expected Learning Outcomes

Expected Learning Outcomes

  • Ability to analyze real cases to conduct CRM audit and develop comprehensive plans for CRM implementation for various types of enterprises
  • Knowledge of the peculiarities of the main operational and analytical CRM tools
  • Understanding of the basic concepts in the field of customer relationship management
  • Understanding of the key success factors and risks of CRM implementation
Course Contents

Course Contents

  • Topic 1. What is CRM, who needs it and why?
    Key points: What is CRM? Goals and objectives of CRM 3 forms of CRM CRM description models «СRM continuum» model Benefits from CRM Cross-functional view at CRM
  • Topic 2. How to love your customers right?
    Key points: Customer satisfaction vs customer loyalty Сustomer loyalty metrics NPS: is it good enough to become so popular? The concept of customer value management (CVM) The link between satisfaction, loyalty and profitability Which customers to focus on? CRM vs CEM (Customer Experience Management) Customer loyalty myths
  • Topic 3. Loyalty programs
    Key points: The evolution of loyalty programs (LP) Do LP increase customer loyalty? How to measure the effectiveness of LP? LP vs CRM Loyalty management or relevance? The future of LP
  • Topic 4. Customer data and analytics
    Key points: Types of customer data and their sources Big Data and CRM The quality of customer data, STARTS model Goals and benefits of analytical CRM The main customer analytics models Analytical tools for each stage of customer lifecycle aCRM priorities in various industries Capabilities and limitations of analytical tools
  • Topic 5. Personalization
    Key points: Personalization vs customization Drivers of personalization Personalization and new IT- technologies What kind of personalization customers really need? Personalization and buying behavior Barriers to personalization
  • Topic 6. Customer Lifecycle Management
    Key points: The concept of CLM Different stages of CLM «Growing» new customers from potential ones Customer development: cross-sell, up-sell Which customers should be retained and returned? How to deal with non-profitable customers? Targeted marketing campaigns for different stages of CLM
  • Topic 7. CRM Strategies
    Key points: What is CRM strategy? Why are CRM strategies needed? CRM B2B vs B2Cstratagies CRM vision CRM gools CRM business case Customer portfolio management stratagies
  • Topic 8. CRM IT solutions
    Key points: Main parts of CRM IT-infrastructure SalesForce Automation solutions Marketing Automation solutions Service Automation solutions Analytical CRM solutions Selection, installation, and integration of CRM solutions Request for proposal (RFP)
  • Topic 9. CRM projects implementation and management
    Key points: CRM audit Plan of CRM implementation Estimation of a company's readiness to implement CRM Cross-functional interaction within the project CRM metrics KSF and risks of CRM implementation Features of CRM implementation in various industries
  • Topic 10. New technologies and future of CRM
    Key points: CRM and AI CRM and gamification CRM and IoT Future of CRM
Assessment Elements

Assessment Elements

  • blocking Exam
    -The final exam is conducted in an offline format. It’s a test which consist of 12 questions (10 closed and 2 opened). -Exam questions are relevant not only to the lecture materials of the course, but also to the materials of guest lectures and ongoing course projects. -Time to write an exam - 60 minutes. Exam grade is blocking: the student should retake exam if he/she gets less than 3.5 points.
  • non-blocking Course work (group+individual)
    - Students will further have an opportunity to put their knowledge into practice by working on a real-world project. The topics include (but are not limited to): Customer loyalty and satisfaction improvement, Loyalty programs concept development, Customer lifecycle management programs development (eg churn decrease, up-sell increase), CRM strategy/plan development, personalization concept development. - Students must organize themselves into groups of 4-5 for the course project - The distribution of project topics among the teams will take into account the interests of each team to the maximum extent SUBMISSION PROCESS 1. ALL TEAMS: Submit a 1-page concept of the project (refined goals, data and tools to be used, expected results, main risks and etc.) by 9 a.m., Sept 10 2. ALL TEAMS: Submit your final presentation by 9 a.m., Oct 11 3. ALL TEAMS: the max duration of presentation is 10 minutes 4. Not all students on your team are expected to present. Each team can determine who will present their project to the class. Students who chose to present will not increase their participation grade, nor will it affect your participation grade if you do not present. -10 points can be obtained for an individual report with a critical analysis of the progress of the project, identification of new knowledge and skills gained, an indication of what could be done better, as well as suggestions for possible development and continuation of work in the field of study. The volume of the report is no more than 1000 words. COURSE PROJECT FEATURES *Time for presenting: 10 minutes, time for questions/comments: 10 minutes) *50% of the final grade is the company; 50% of the final grade is the lecturer) *With the consent of the lecturer and each team member, it is allowed to redistribute points among team members INDIVIDUAL REPORT -10 points can be obtained for an individual report with a critical analysis of the progress of the project, identification of new knowledge and skills gained, an indication of what could be done better, as well as suggestions for possible development and continuation of work in the field of study. The volume of the report is no more than 1000 words. The received grade will not be rounded (only the final grade for the course will be rounded).
  • non-blocking Individual mini-assignments throughout course
    Homeworks have different formats (viewing the video, reading the article, making a presentation and etc.)
  • non-blocking Participation and activity
    Participation is evaluated on the quality of student’s contribution to the learning experience of the class. Participating by actively responding to questions, asking questions yourself, and engaging in class discussions will help student’s earns a participation grade. Note that the quality of student’s participation is not necessarily a function of the quantity of your participation
Interim Assessment

Interim Assessment

  • Interim assessment (1 module)
    0.4 * Course work (group+individual) + 0.4 * Exam + 0.1 * Individual mini-assignments throughout course + 0.1 * Participation and activity
Bibliography

Bibliography

Recommended Core Bibliography

  • Customer relationship management : concepts and technologies, Buttle, F., Maklan, S., 2019

Recommended Additional Bibliography

  • Don Peppers, Martha Rogers. Managing Customer Experience and Relationships, 3d edition, 2017
  • One-to-one personalization in the age of machine learning : harnessing data to power great customer experiences, Wirth, K., Sweet, K., 2017
  • The art of CRM : proven strategies for modern customer relationship management, Fatouretchi, M., 2019