What is the importance of emigration management

Winter semester Customer Relationship Management. Prof. Dr. Klaus D. Wilde. Chair for Business Administration and Information Systems

Transcript

1 winter semester Customer Relationship Management Chair for General Business Administration and Information Systems at the Catholic University of Eichstätt-Ingolstadt

2 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM 2 IT systems in CRM 2.1 Customer data in CRM 2.2 Operational CRM 2.3 Analytical CRM 2.4 Integration of ocrm and acrm

3 Introduction Literature 2 Hippner, H., Hubrich, B .; Wilde, K. D. (Ed.) (2011): Fundamentals of CRM, 3rd ed. Wiesbaden.

4 Introduction of the curriculum 3 Customer Relationship Management (winter semester) Analytical CRM (summer semester) Business Intelligence (summer semester) CRM IT systems (summer semester) CRM in practice (winter semester)

5 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM 2 IT systems in CRM

6 Definition and classification Definition 5 With the help of modern information and communication technologies, customer relationship management (CRM) tries to build and consolidate long-term profitable customer relationships through holistic and individual marketing, sales and service processes. The central design areas of CRM are the development strategy for the management of customer relationships (CRM strategy), the alignment of all customer-related business processes to the requirements of this CRM strategy, the support of these customer-related business processes through suitable IT systems in the form of a consolidation of all customer-related data (Data integration, One Face of the Customer). customer-specific orientation and synchronization of the customer approach (process integration, one face to the customer).

7 Definition and classification of design areas 6 CRM controlling CRM strategy Optimization of business processes Implementation of IT systems Change management

8 Definition and classification of the CRM effect chain 7 CRM controlling Change in customer perception CRM strategy Optimization of business processes Implementation of IT systems Change in the quality of business processes Change in customer behavior Change in customer value Change management

9 Definition and classification of the Audi case study 8

10 Definition and classification Demarcation from related terms 9 Relationship management, other external relationships, other internal relationships, relationship marketing, other vertical relationships, customer loyalty management, potential customers, current customers, lost customers, customer relationship management

11 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM 2 IT systems in CRM

12 Customer relationships Characteristics of customer relationships 11 Repeated, non-random interactions Temporal structure (phases) Factual and emotional level Trust building based on experiences over time Specific investments over time Different relationship intensity Diller, H. (2001): Business relationship, in: Diller, H. (Ed .): Vahlens Großes Marketinglexikon, 2nd edition, Munich, p

13 Customer relationships Advantages and disadvantages of a relationship from the customer's point of view 12 Advantages Social advantages: Development of personal relationships with company employees. Psychological advantages: Experience in the course of a relationship can reduce uncertainty and build trust. Economic advantages: low transaction costs (no search for a supplier), competent advice (knowledge of customer needs), price advantages (discounts for regular customers). Disadvantages Restriction of independence and freedom of choice: Restrictions on the variety of offers due to commitment to one supplier. Variety Seeking: Customers show a tendency to change their product choices, which is based solely on a need for variety. Need for privacy: Customers see their privacy at risk by disclosing personal data. Gwinner, K. P .; Gremler, D. D .; Bitner, M. J. (1998): Relational Benefits in Services Industries: The Customer`s Perspective, in: Journal of the Academy of Marketing Science, Vol. 26, No. 2, pp. 104 ff.

14 Customer relationships Customer types according to their understanding of relationships 13 Customer type Expectations and reactions of the customer transactional Would like to fulfill his wishes at an acceptable price. He does not want any collaboration with the company between purchases. passive relational Needs the certainty of being able to get in touch with the company if he wants to. However, he rarely reacts to offers from the company. active relational actively seeks opportunities to get in touch with the company and feels that this is a personal benefit. Grönroos, C. (2000): Service Management and Marketing; 2nd ed., Chicester et al., P. 36.

15 Customer relationships Customer relationship life cycle 14 Relationship intensity Initial phase Socialization phase Risk phase Growth phase Risk phase Maturity phase Risk phase Degeneration phase Termination phase Abstinence phase Revitalization phase Potential customers Prospect management Current customers Customer loyalty management Stauss, B. (2000): Perspektivenwandel: From product life cycle to customer relationship life cycle, 17th in: Thexis life cycle ., No. 2, S Lost Customers Recovery Management Time

16 Customer Relationships Customer Relationship Life Cycle and Task Fields in CRM 15 Customer Customer Type Potential Customers Current Customers Lost Customers Relationship Relationship Status Potentially New Stable At risk due to a complaint Incident at risk for other reasons Lost, but revitalizable Actually lost Target Initiate Consolidate / strengthen Stabilize / secure Win again Management Task focus: prospective customer management Customer loyalty management ies Based on Stauss, B .; Seidel, W. (2007): Complaints Management, 4th edition, Munich / Vienna, p. 32. Feedback management, customer loyalty management, credit risk management, migration management, revitalization management, recovery management

17 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM 2 IT systems in CRM

18 Customer value Determinants of customer value 17 Customer value Transaction potential Relationship potential Base volume Growth potential Cost reduction potential Reference potential Information potential Cooperation potential Intensification potential Cross-selling potential Up-selling potential Potential from decreasing price elasticity

19 Customer value Determinants of customer value 18 Transaction potential Contribution to success of the customer as a buyer of company services Components Base volume: current extent of the service decrease Growth potential: Increase (decrease) in the service decrease with intensification potential: the same services as before Cross-selling potential: other services of the company Up-selling potential : higher-quality services of the company Potential from decreasing price elasticity: reduced price sensitivity with strong customer loyalty Cost reduction potential: lower transaction costs (customer knowledge) and customer acquisition costs

20 Customer value Determinants of customer value 19 Relationship potential Success contribution from the customer relationship beyond the transaction potential Components Reference potential: Influence of the customer on purchasing decisions of third parties Information potential: Suggestions for improving company performance and business processes Cooperation potential: General advantages of the company from the cooperation with the customer

21 Customer Value Profitability of Customer Relationships 20 Many companies generate a large part of their profits with only a relatively small number of customers. On the other hand, there are customers who make a negative profit contribution and thus partially destroy the profits generated by the remaining customers. Unprofitable customers are not bad customers, they are not profitable because the types of customer treatment make unprofitable customer behavior possible. Customer profitability is always a function of the shaping of the customer relationship, and this behavior can be influenced in a variety of ways. Eberling, G. (2002): Customer Value Management, Wiesbaden, p. 43. Rapp, R. (2000): Customer Relationship Management. The new concept for revolutionizing customer relationships, Frankfurt a. M., p. 90.

22 Customer value Profitability of customer relationships 21 Profit contribution in% of the actual value Option transfer customers with negative profit contribution to profit zone through option 1 increase in sales 100 cost reduction Option 2 customers with positive profit contribution Customers with negative profit contribution 100 Option 2 customers in% Adjustment of the customer base of loss-making customers through natural erosion unattractive conditions active termination

23 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM 2 IT systems in CRM

24 Fields of activity in CRM Customer relationship life cycle and fields of activity in CRM 23 Customer Customer type Potential customers Current customers Lost customers Relationship Relationship status Potentially new Stable Endangered due to complaint Incident endangered for other reasons Lost, but revitalizable Actually lost Goal Initiate Consolidate / strengthen Stabilize / secure Regain Management main focus of tasks Prospect management, new customer management, customer loyalty management ies Based on Stauss, B .; Seidel, W. (2007): Complaints Management, 4th edition, Munich / Vienna, p. 32. Feedback management, customer loyalty management, credit risk management, migration management, revitalization management, recovery management

25 1 Basics of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM Prospect management New customer management Customer loyalty management Churn management Revitalization management Feedback management Credit risk management 2 IT systems in CRM

26 Prospect management Customer relationship status and task areas in CRM 25 Customer Customer type Potential customers Current customers Lost customers Relationship relationship status Potentially new Stable Endangered due to complaint Incident endangered for other reasons Lost, but revitalizable Actually lost Goal Initiate Consolidate / strengthen Stabilize / secure Win again Management Task focus: prospect management New customer management Customer loyalty management ies Based on Stauss, B .; Seidel, W. (2007): Complaints Management, 4th edition, Munich / Vienna, p. 32. Feedback management, customer loyalty management, credit risk management, migration management, revitalization management, recovery management

27 Prospect management Aims and tasks of prospect management 26 Aim of prospect management: Acquire prospects and transform them into new customers in order to compensate for customer churn and expand the customer base. Tasks (AIDA) Creating awareness and attention (Attention) Arousing interest (Interest) Arousing a desire to buy (Desire) Triggering the first purchase (Action) Measures Addressing and activating via media and social networks (lead generation) Establishing customer-specific dialogues Fiala, B. (1998): Process-oriented Customer acquisition from service providers, in: Meyer, A. (Ed.): Handbuch Dienst-Marketing, Volume 2, S. 128 f.

28 Interested parties management Generation of prospective customer contacts 27 Media advertising (TV, advertisements, posters) Direct marketing with external addresses (address publishers, list brokers) Internet presence Search engine marketing Trade fair presentations and events Customers recruiting customer campaigns Presence in social media Haas, A. (2004): Prospect management, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

29 Prospect management Prospect management as a qualification process 28 Identify potential prospects & non-prospects Qualify potential prospects Prioritize prospects Initiate purchasing process New customers Based on Haas, A. (2004): prospect management, in: Hippner, H .; Wilde, K.D. (Ed.): Fundamentals of CRM, Wiesbaden, p. 371 f. Eliminate resistance to buying, create incentives to buy

30 Prospect management Example: Prospect management at HypoVereinsbank 29 Riedl, M. (2011): From product buyer to customer, lecture at the 18th CRM symposium of the FWI e. V., Hirschberg Castle.

31 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM Prospect management New customer management Customer loyalty management Churn management Revitalization management Feedback management Credit risk management 2 IT systems in CRM

32 New customer management Customer relationship status and fields of activity in CRM 31 Customer Customer type Potential customers Current customers Lost customers Relationship relationship status Potentially new Stable At risk due to complaint Incident at risk for other reasons Lost, but revitalizable Actually lost Goal Initiate Consolidate / strengthen Stabilize / secure Win again Management Task focus: prospect management New customer management Customer loyalty management ies Based on Stauss, B .; Seidel, W. (2007): Complaints Management, 4th edition, Munich / Vienna, p. 32. Feedback management, customer loyalty management, credit risk management, migration management, revitalization management, recovery management

33 New customer management Delimitation of new customers 32 Start of new customer status First purchase (initial) First purchase after abstinence phase with revitalization End of new customer status Further purchase within a certain period (purchase cycle) Contract extension (implicit / explicit) Deadline (month / quarter / year depending on according to purchase cycle) Gouthier, M. (2004): Neukundenmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

34 New customer management Aims and tasks of new customer management 33 Strengthening new customer relationships by building satisfaction Building trust Reduction of cognitive dissonances Promoting repurchase Promoting recommendation Gouthier, M. (2004): Neukundenmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

35 New customer management Development of satisfaction in new customer management 34 Service design through product policy and quality management Expectation management for new customers Analysis of expectations Control of expectations (e.g. through advertising promises and references) Separate satisfaction measurement for new customers Transaction and relationship satisfaction Cross-sectional analysis (new vs. regular customers) Longitudinal analysis ( New customers over time) Gouthier, M. (2004): Neukundenmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

36 New customer management Building trust in new customer management 35 Customer communication Satisfaction guarantees References Complaint management Welcome gifts Customer integration (e.g. customer advisory boards, customer forums) Gouthier, M. (2004): Neukundenmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

37 New customer management Reduction of cognitive dissonances in new customer management 36 Cognitive dissonance Doubts after decisions between approximately equivalent alternatives Buyer prefers to take in information that confirms his decision. Support of dissonance reduction through post-purchase communication (welcome packages, instructions for use, welcome events, customer magazines, hotline) Training measures Customer seminars Guided Tours Gouthier, M. (2004): Neukundenmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

38 New customer management Example: New customer management at HypoVereinsbank 37 Riedl, M. (2011): From product buyer to customer, lecture at the 18th CRM symposium of the FWI e. V., Hirschberg Castle.

39 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM Prospect management New customer management Customer loyalty management Churn management Revitalization management Feedback management Credit risk management 2 IT systems in CRM

40 Customer loyalty management Customer relationship status and task fields in CRM 39 Customer Customer type Potential customers Current customers Lost customers Relationship relationship status Potentially new Stable At risk due to complaint Incident at risk for other reasons Lost, but can be revitalized Actually lost Goal Initiate Consolidate / strengthen Stabilize / secure Win again Management Task focus: prospect management New customer management Customer loyalty management ies Based on Stauss, B .; Seidel, W. (2007): Complaints Management, 4th edition, Munich / Vienna, p. 32. Feedback management, customer loyalty management, credit risk management, migration management, revitalization management, recovery management

41 Customer loyalty management Objectives and tasks of customer loyalty management 40 Concept of customer loyalty Repeated information, goods or financial transactions between two business partners (Diller (1996), p. 84) Objectives of customer loyalty management Cycle stretching: measures to maintain relationships Cycle leveraging: measures to intensify relationships Tasks of customer loyalty management Connectedness: customer stays in the relationship because he wants to. Building bond: the customer stays in the relationship because he has to. Diller, H. (1996): Customer loyalty as a marketing goal, in: Marketing ZFP, vol. 18, no. Plinke, W. (1997): Fundamentals of business relationship management, in: Kleinaltenkamp, ​​M .; Plinke, W. (Ed.): Business relationship management, Berlin, p. 50; Stauss, B.(2004): Basics and phases of customer relationships: The customer relationship lifecycle, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p

42 Customer loyalty management Objectives and tasks of customer loyalty management 41 Stauss, B. (2004): Basics and phases of customer relationships: The customer relationship lifecycle, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, S Zimmermann, J. (2012): Status and customer loyalty, dissertation, Ingolstadt, p. 34.

43 Customer loyalty management Instruments of customer loyalty management (examples) 42 All areas of the marketing mix Classic 4P model: Product Price Promotion Place 7P model of service marketing: additionally Zimmermann, J. (2012): Status and customer loyalty, dissertation, Ingolstadt, p. 34. Personel Process Physical Surrounding

44 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Tasks in CRM Prospect management New customer management Customer loyalty management Churn management Revitalization management Feedback management Credit risk management 2 IT systems in CRM

45 Churn management Customer relationship status and task areas in CRM 44 Customer Customer type Potential customers Current customers Lost customers Relationship relationship status Potentially new Stable At risk due to complaint Incident at risk for other reasons Lost, but revitalizable Actually lost Goal Initiate Consolidate / strengthen Stabilize / secure Recover Management Task focus: prospect management New customer management Customer loyalty management ies Based on Stauss, B .; Seidel, W. (2007): Complaints Management, 4th edition, Munich / Vienna, p. 32. Feedback management, customer loyalty management, credit risk management, migration management, revitalization management, recovery management

46 Churn management Areas of responsibility for churn management 45 Churn prevention management Prevention of unwanted customer churn Cancellation management Initiation of desired customer churn Trouble-free processing of customer-initiated churn

47 Emigration prevention management Goals and tasks of emigration prevention management 46 Analysis of reasons and processes of emigration management Emigration prevention measures Proactive monitoring of the risk of emigration Based on Michalski, S. (2004): Kündigungspräventionsmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p. 500.

48 Churn prevention management Reasons for churning 47 Spiecker, D. (2012): Price-oriented customer churn in commodity services, dissertation, p. 55.

49 Churn prevention management Churn processes 48 (situational, contractual, technical, economic, psychological) Spiecker, D. (2012): Price-oriented customer churn in commodity services, dissertation, p. 94.

50 Churn prevention management Example: Analysis of the reasons for churn 49 Telephone survey on reasons for termination at financial institutions Have you ever changed your bank? (Yes / No) (I don't mean switching from one branch to another of the same financial institution, but switching to another financial institution). Which of the reasons were decisive for this change for you? Michalski, S. (2004): Dismissal Prevention Management, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p. 502.

51 Churn prevention management Example: Churn process analysis (switching pass analysis) 50 Example: A 42-year-old customer from Cologne entered into a customer relationship with Bank X in 1994 with the aim of receiving long-term investment advice, particularly with regard to the acquisition of stocks and funds. The churn process was triggered by the company when the client got a new investment advisor in 1997. Several contacts followed with the new consultant, which the customer rated as less than satisfactory. The first thought to end the customer relationship arose after the new consultant was only working part-time and due to this the availability was limited. In this situation, the customer asks the branch manager to change the consultant. This request is refused. Errors followed with regard to the consideration of an exemption order, which led to an official complaint. Two more critical events followed, which contributed to the fact that the customer was actively informed about current offers from online brokers. After completing the search for information, the decision was made to switch to an online provider or an account was opened with the new bank. The termination of the customer in June 2000 marked the end of the three-year migration process! Recognize starting points for identifying customers at risk of churn Recognizing starting points for measures to prevent churn Recognizing starting points for optimizing performance and processes Michalski, S. (2004): Kündigungspräventionsmanagement, in: Hippner, H .; Wilde, K. D. (Ed.): Fundamentals of CRM, Wiesbaden, p. 503.

52 Churn prevention management Churn prevention measures 51 Incentive strategy: Smaller incentives to continue the customer relationship (e.g. an invitation to an event). Compensation strategy: Loss compensation through financial or in-kind contributions in the case of benefit restrictions Damage on the customer side due to company errors. Dialog strategy: Interaction with the customer (e.g. a personal conversation with the customer advisor) to convince him of the advantages of continuing the customer relationship and to restore his trust. Contractual commitment: contractual termination dates, notice periods or termination formalities that make churning very costly for the customer. Depending on the customs of the industry, it is hardly feasible under today's competitive conditions and not very promising in the long term. Michalski, S. (2003): Dismissal Prevention Management, in: Hippner, H .; Wilde, K.D. (Ed.): Fundamentals of CRM, Wiesbaden, p

53 Churn prevention management Example: Churn prevention management at Deutsche Bank 52 Proactive monitoring of churn risk. Risk indicators are the deduction of investments Significant exchange rate losses in the custody account Reduction of exemption orders Declining use of payment transaction accounts Advice to customer advisors when customer relationships are at risk Stabilization of customer relationships Recording of reasons for churning Result customer loyalty rate improved by approx. 25% Increase in business volume per customer by over 5% 10% Blache, R .; Damiani, E .; Spring, J .; Kraus, H. (2005): Active customer relationship management at Deutsche Bank, in: Bruhn, M .; Homburg, Ch. (Ed.): Handbuch Kundenbindungsmanagement, 5th edition, Wiesbaden, S

54 Cancellation management basics 53 Demarketing Company-controlled customer exclusion in the narrower sense: Release of existing customers in the broader sense: Rejection of potential (new) customers Targets of demarketing Cost savings, optimization of resource allocation and image enhancement by excluding unprofitable or undesirable customers Complex process that leads to serious negative consequences can. CRM processes must be individually adapted for exclusion. Kotler, P .; Levy, S. J. (1971): Demarketing, yes, demarketing, in: Harvard Business Review, Vol. 79, No. 6, S; Homburg, C. (1995): Customer proximity in industrial goods companies, Wiesbaden; Günter, B .; Helm, S. (2003): The termination of business relationships from the vendor's point of view, in: Rese, M .; Söller, A .; Utzig, B. (Ed.): Relationship Marketing Location Determination and Perspectives, Berlin, S; Roth, S. (2005): What to do with bad customers? in: acquisa, vol. 53, no. 7, p; Karle, R. (2008): Stürmen oder Türmen ?, in: Vertriebswirtschaft special issue, S; Blömeke, E .; Clement, M. (2009): Selective demarketing management of unprofitable customers, in: Schmalenbach's magazine for business research, vol. 61, no. 11, p; Finsterwalder, J. (2002): Transformation of customer relationships, approaches for the bulk customer business of DL companies, dissertation, Bamberg.

55 Termination management design 54 Basic strategies for dealing with unprofitable customers Maintaining: Processing of the customer in the usual way Partial exclusion: Restriction of company services Total exclusion: Dissolution or termination of the business relationship Implementation via the elements of the marketing mix Product: Change in properties: services, performance, Quality Elimination: Restriction or complete exclusion Price: Price differentiation: Price increases, restriction of discounts Financial incentives: Change in the price structure, reduction of switching costs Place: Limitations, Elimination Promotion: Differentiation, content Kotler, P .; Levy, S. J. (1971): Demarketing, yes, demarketing, in: Harvard Business Review, Vol. 79, No. 6, S; Blömeke, E .; Clement, M. (2009): Selective demarketing management of unprofitable customers, in: Schmalenbach's magazine for business research, vol. 61, no. 11, p

56 Termination management design 55 Classification of exit strategies according to external and self-orientation (consideration of negative effects for customers) Openness (explicit communication with the customer) Initiator (only company or also customer) Strategies for ending customer relationships Alajoutsijärvi, K .; Möller, K .; Tähtinen, J. (2000): Beautiful Exit - How to leave your business partner, in: European Journal of Marketing, 34th vol., No. 11/12, p

57 Dismissal management arrangement 56 Hidden withdrawal: exclusion without the intention to disclose directly. Pseudo de-escalation: Withdrawal of investments or services signal the intention to end the relationship (e.g. no more catalogs). Cost escalation: Increase in costs (transaction costs, fees, prices, etc.) until the customer changes his unprofitable behavior or ends the relationship. Tacit Withdrawal: Disappearance: Company tacitly withdraws from the relationship (letting it expire). Change in behavior: Working towards termination of the relationship on the customer side (loss of trust, dismissive behavior). Communicated exit: partner-oriented communication of the termination. Negotiated farewell: The final conversation explains the reasons to the customer in a way that is understandable for him. Fait accompli: The provider informs the customer directly that the business relationship has ended without the customer being able to comment. Revocable exit: Clarifying discussion: Negotiating conditions for a continuation of the relationship. Final discussion: Communication of the conditions for continuation without negotiation.

58 Cancellation Management Examples 57 Hidden Withdrawal: FedEx increases package fees for customers who did not reach the volume required to cover costs. Silent Withdrawal: Royal Bank of Canada increased waiting times for unprofitable customers in their call center to reduce customer satisfaction. Communicated exit: ARAG terminated legal protection insurance contracts due to an unfavorable claims experience. Revocable exit: Otto-Versand: Reminder letter in the event of a high return rate and cessation of catalog dispatch if no improvement occurs. Böcker, B. M. (2010): Demarketing Company-controlled customer exclusion in customer relationship management, Bachelor thesis at the Catholic University of Eichstätt-Ingolstadt, p. 36 ff.

59 Overview 1 Fundamentals of CRM 1.1 Definition and classification 1.2 Customer relationships 1.3 Customer value 1.4 Task fields in CRM Prospect management New customer management Customer loyalty management Churn management Revitalization management Feedback management Credit risk management 2 IT systems in CRM