Question

How do you think eMarketing should fit into the overall marketing picture?

And How do some businesses put a value on CRM (customer relationship management) for their organizations?

Thanks in advance!!

Answer 1

How do you think eMarketing should fit into the overall marketing picture?

According to me, e-marketing should fit into the over marketing picture because of the reasons provided below-

·         E-marketing helps in cost reduction

·         In comparison with the traditional marketing approach, e-marketing gives a faster response to both end-users and marketers

·         It is a very effective and easy method for global marketing

·         E-marketing can be performed 24*7 as opposed to traditional marketing approach

·         E-marketing can fit into a diversified advertising

E-marketing is the marketing that takes advantage of the internet. This type of marketing has to become popular these days because of better reachability to the customers. E-marketing has several advantages over traditional marketing methods.

And How do some businesses put a value on CRM (customer relationship management) for their organizations?

The value of CRM to a business is derived by reducing the costs of procuring and retaining a customer from the revenues that are generated by him/her.

CRM is a business' function which caters the management of its customers. It is a culture followed in all businesses which aims at retaining the right customers. Certain organisations have their own departments to deal with customer and some outsource this function to an inbound calling center.

CRM, if done correctly, can build a business' value and opens up many new avenues and channels for it. It is all about maintaining relationships with the existing customers so as to retain them. CRM has time and again proved to be a beneficial function to any organisation.

·        It provides the business with new opportunities of sales.

·        It helps businesses in taking proactive approach towards customer services.

·        It provides businesses in taking the better decisions after considering the needs of customers and latest trends.

·        It helps in improving business' efficiency by automating many processes of a business.

A business can put a valuation on its customer relationship by evaluating the amount of revenue affected by it and deducting the expenses incurred on the advertising of the products, its marketing, maintaining relationships with existing customers by staying in touch. The existing customers referring other people is also a value indirectly contributed by CRM and can be added to the value of the CRM.