CRM reconsidered from data perspective

Yabuno Shota

doi:10.24544/ocu.20201216-001

In recent years, marketing strategies focusing on the building of relationships with customers have attracted the attention of both business and the literature. This study focuses on the marketing strategy called customer relationship management (CRM). The strategy distinguishes customers using various data and tries to retain them through different customer satisfaction methods. In CRM, continuous purchasing by customers is called a relationship with customers, and building this relationship improves customer lifetime value. However, although many companies pay attention to CRM, only a few succeed. One reason for this is that CRM cannot handle a variety of data. This study systematically rebuilds CRM through a data analysis process based on a review of the conventional CRM studies, to make three contributions to the literature. First, the study shows that the final CRM form involves approaching each small segment and individualizing each customer. Second, I organize the data as well as data analysis methods applied in CRM. The data used for CRM are classified into three groups: customer information, achievement information, and behavior history information. The data analysis methods are classified by purpose. Third, the study finds that the same analysis method can be used for multiple purposes, even if the purpose is same, instead of one type of analysis method. However, some challenges remain. The current CRM has no analytical method that takes a different approach for each customer. A future study needs to take up this point and also consider the development of new analytical methods.

CRM reconsidered from data perspective

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