In Coursework 1, you selected ONE company from the below list:
1. Airbnb
2. Ryanair
3. Walmart
4. McDonalds
5. Sports Direct
In Coursework 2, you should continue with the same organisation. Any changes to the chosen company need to be approved by your module leader.
This is an individual assignment.
In Coursework 1, you have assessed the customer management competence of a chosen company, and identified its strengths and weaknesses in managing its customers. With Coursework 2, you will make recommendations to your company on how it can improve its CRM performance and profitability.
THREE SMART Objectives and Digital Strategies (750 words; 50 points)
Based on your research and analysis in Coursework 1, you will identify THREE SMART objectives and recommend THREE digital strategies that will help your company build and develop profitable long-term relationships with their target customers.
Each proposed digital strategy should be justified clearly with references to the business, industry, the chosen customer segment, the competition and market trends (such as evolving consumer behaviour and emerging technologies).
Excellent answers will propose digital strategies with references to owned, earned and paid media in the context of customer acquisition, retention, development, experience and engagement.
Each sub-section should be titled in relation to one customer lifecycle area, such as customer acquisition, retention, development, engagement etc.
Companies use a number of metrics to evaluate the success of their customer management objectives. Most commonly used metrics are:
1. Net Promoter Score (NPS)
2. Customer Acquisition Cost (CAC)
3. Customer Lifetime Value (CLV)
4. CAC-to-CLV
5. Customer Satisfaction Score (CSAT)
6. Customer Effort Score (CES)
7. Customer Retention Rate
8. Revenue Churn
9. First Contact Resolution
10. Average Ticket Time
The following website offers information on these metrics: https://bit.ly/2YXGL2P
In Section 2, you are asked to:
1. identify five metrics from this list and present their definitions in a table.
2. discuss how companies in general can use these metrics when evaluating their customer management strategies.
3. connect digital strategies identified in Section 1 with these five metrics.
Required structure for Section 2:
Start with a metrics definitions table for the chosen 5 metrics (tables are excluded from word
count):
Metric 1.
Metric 2.
Metric 3.
Metric 4.
Metric 5.
(remember to present the source of these definitions)
3) Conclusion (200 words; 10 points)
This section is a brief summary of your report, highlighting how your company would benefit from integrating digital CRM. This could be in relation to benefits to its customers (such as offering a higher value), or cost efficiency (due to marketing automation for example).
Alternatively, you can discuss the key challenges the company can face in their digital CRM integration. The conclusion should be supported and logically draw upon the discussions in previous sections.
Presentation (5 points)
Your understanding of the module content should be reflected well in the report. This means you will need to refer to learning materials, concepts and theories learnt in the module, in the context of the chosen company.
