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Customer Relationship Management in the New Era of Internet Marketing

McGraw-Hill,

15 min read
10 take-aways
Text available

What's inside?

People don't want quarter-inch drill bits; people want quarter-inch holes: how to shape your perspective to the new age of customer relationship management, the Web way.

Editorial Rating

8

Qualities

  • Applicable

Recommendation

This book is a delightful result of Frederick Newell’s recent indoctrination in marketing through the World Wide Web. Newell is an internationally acclaimed professional and part-time academic who specializes in database marketing. He admits in his preface that he’s a bit of a "geezer" - because his 1997 book, The New Rules of Marketing, lacked a Web component, which undermined its newness. In an effort to rectify that, he reconciles the impressive database-mining and customer relationship concepts from his earlier book with today’s rapidly changing cyber-marketing theories and practices. Newell clearly is excited by what he has belatedly learned about the Web’s potential, and provides on-target case studies to support his points. getAbstract recommends this book to all marketers - especially to those in retail. Those who are new to Web business will find it particularly useful.

Summary

Know Your Customer

Imagine you have moved to a small Midwestern town in 1962. You walk into the only department store on Main Street. The busy sales staff, all of whom seem related, are discussing family, school, church, and sports with their customers as they wait on them. When it is your turn, the salesperson begins asking questions. Are you new in town? Where are you from? Whose house did you buy? Where will you work? How many children do you have? How old are they?

From your answers, the salesperson discovers that the Dawson house, which you bought, has four more rooms than the one you left behind. You’ve moved from a temperate climate and will need to buy a lot of winter clothes. Your kids are growing so quickly; they change sizes twice a year. Your son is at the age when fashion dictates beyond all sense of reason. And you work for that tightwad downtown. Already, you feel like a familiar customer at a store where there is an obvious premium on personal services. Today, this sales method is known as Customer Relationship Management, or CRM.

Unlike the usual customer in 1962, the modern retail customer is increasingly mobile. People move to new counties ...

About the Author

Frederick Newell is CEO of Seklemian/Newell, an international marketing consulting firm. He is also a visiting lecturer at the Universidad de Belgrano in Buenos Aires, and at Duke University. He is the author of The New Rules of Marketing.

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