The six 'e"s of e-CRM
- Electronic channels: New electronic channels such as the web and personalised e-Messaging have become the medium for fast, interactive and economic communication, challenging companies to keep pace with this increased velocity. e-CRM thrives on these electronic channels.
- Enterprise: Through e-CRM a company gains the means to touch and shape a customers experience through sales, services and corner offices-whose occupants need to understand and assess customer behaviour.
- Empowerment: e-CRM strategies must be structured to accommodate consumers who now have the- power to decide when and how to communicate with the company. Through, which channel, at what frequency. An e-CRM solution must be structured to deliver timely pertinent, valuable information that a consumer accepts in exchange for his or her attention.
- Economics: An e-CRM strategy ideally should concentrate on customer economics, which drives smart asset-allocation decisions, directing efforts at individuals likely to provide the greatest return on customer- communication initiatives.
- Evaluation: Understanding customer economics relies on a company's ability to attribute customer behaviour to market programs, evaluate customer interactions along various customer touch point channel, etc.
- External information: The e-CRM solution should be able to gain and leverage information from such sources as third party information networks and web page profiler application.
-- Acquisition (increasing the number of customers).
-- Expansion (increasing portability by encouraging customer to purchase more products and service).
-- Retention (increasing the amount of time that customer stays customers). An e-CRM strategy must be able to identify the expansion potential for each customer. A company should be able to identify the opportunities to cross-sell and up-sell to the same set of customers.
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