eCRM Key Terms
Learn eCRM key termsElectronic customer relationship management, or eCRM, key terms are very similar to regular CRM terms. The principles are the same but the format for storing the CRM data is different. As you study eCRM key terms, it helps if you have an idea of what your program is capable of doing. In all likelihood, you should find most of the key terms in this guide used in the implementation of your eCRM program.
Hosted eCRMHosted eCRM resides on your company's servers. You are responsible for installation and maintenance of the program. Hosted eCRM networking must also must come from your IT staff.
Customer analyticsThe portion of the eCRM package that allows you to analyze customer behavior is customer analytics. Depending on the eCRM program you use, you can perform a variety of tasks to track your customers' behavior.
Phased approachSome of your employees may feel that eCRM is overwhelming. By using a phased approach, you introduce the eCRM package in increments. When everyone is comfortable with the first phase, you put another section of the eCRM package in place. The process continues until every aspect of the program is in use.
BenchmarksBenchmarks measure how well your eCRM program is working. You may find that the program is living up to expectations as you measure it against specified benchmarks. More than likely, you may discover weaknesses in the program where you need to provide extra training for your staff to get the full value of your eCRM package.
Customer lifetime valueCustomer lifetime value is a measure of how much a customer means to a business in terms of repeat business. A good eCRM program works to build a good customer relationship with you and your customers. This in turn builds trust and a long-term business relationship.
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