CRM Strategies & Customer Value Growth at MyRepublic
Answer the following questions in relation to the article.
(a) A customer-strategy enterprise has a three-stage goal of getting, keeping, and growing the value of the customer base. First, analyse what growing the value of the customer base means for MyRepublic. Second, for each of these three stages, analyse one (1) specific strategy with one (1) example from the article or from your research of telcos. (35 marks)
(b) Buttle & Maklan (2019) put forward that there are two (2) main perspectives of understanding CRM. First, illustrate the meaning of the two (2) For each perspective, give one (1) example from the article to support your answer. Second, illustrate your understanding of Payne & Frow’s (2005) perspective of CRM as a continuum. Use relevant details from the article or from your research of telcos. (30 marks)
(c) First, discuss what identification or recognition of a customer means and how it applies to MyRepublic. Second, identify two (2) identification activities recommended by Peppers and Rogers, and discuss their benefit to the telco with the help of one (1) example each. Third, discuss one (1) improvement that can be made to either of the identification activities. Use relevant details from the article or from your research of telcos. (35 marks)
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CRM Assignment Answers: Expert Answers on Above Questions of CRM
Growing, getting and keeping customers
In respect to MyRepublic, growing its value means increasing its average revenue per user and this can be possible by up-selling premium plans, building broadband and encouraging loyalty among customers. The getting option can be realised by providing competitive pricing on its data plans and attracting new users. The keeping option can be ensured by providing high quality customer service whereas growth can be possible by way of cross selling and loyalty programs that are aimed at benefiting long term customers.
CRM perspectives
The CRM perspective includes strategic CRM whereby customer focus becomes the core business philosophy. MyRepublic can position itself as a customer first telco. The operational CRM utilises technology with the objective of improving operational efficiency, and MyRepublic can utilise service apps for account management.
Customer identification
It implies recognising the needs and expectations of customers by providing them personalised service. MyRrepublic can ensure this through customised services and by reducing duplication. It can achieve this by following the process of customer registration to deliver customised services by storing user profiles, and by tracking intellections with customers to help predict behaviour. The tracking can be enhanced by integrating AI for real time recommendations and better engagement.
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