Customer Relationship Management Internet Marketing

1. Introduction

1.1 Reasons for choosing the topics

Refer to my career path in part A; internet marketing is my favor choice in the future. There are lots of different criteria of internet marketing. I would like to study more about the customer relationship management which is focused to find out the interaction activities between company and their customers. Then the company can adopt those data tools, such as data mining and data warehousing to find and attract new customer and increase the loyalty of their existing customers and to retain them effectively.

For the case study of customer relationship management, I would like to categories of products online, such as Books, Electronics, Movies, Games and etc. It also can ship to all the countries around the world.

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As my personal experience that shopped in Amazon.com. Their after services are very good. They will also provide some complementary products or some enhanced one while customers are looking for something they want.

After finished the payment, the goods will be delivered around three to five working days. It was very fast actually.

Besides, around one month later, Amazon.com will send out a feedback survey to their customers to see if they were satisfied with their services or not. Also, they should make some comments on the products that they had purchased.

Moreover, Amazon.com also will introduce some new products to their customers if it was similar to the products that they purchased last time.

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In addition, Amazon had lasted for about 15 years ago. It had running a good CRM system for a long time. So Amazon.com is a good choice for me to understand more about CRM and how it brings up impact to a company.

1.2 Aims and scope

The purpose of studying the CRM of a company is to know more about the strategies should a company take to acquire the loyalty and conduct the consumer favor and behavior through the CRM system.

Also, the study should investigate how the company made use of those data conducted by the system and how to develop a long-term customer-supplier relationship through CRM.

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Customer Relationship Management system in internet marketing: case study of Amazon.com will be discussed in the following part.

Customer Relationship Management system in internet marketing: case study of Amazon

1. Introduction

1.1 Reasons for choosing the topics

1.2 Aims and scope

2. Setting the Scene

3. Literature Review

3.1 Internet marketing

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3.1.1 Definition of internet marketing

3.1.2 Comparing internet and traditional marketing

3.1.3 Marketing Mix of the internet marketing

3.1.4 Usage in internet marketing

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3.1.5 Definition of Customer Relationship Management

3.1.6 Four types of CRM programs

3.1.7 Customer acquisition

3.1.8 Customer retention

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3.1.9 Customer-supplier relationship

– Commitment – Trust

3.1.10 How CRM Applied in the Internet Marketing

4. Case Study – Amazon

4.1 Background of Amazon

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4.2 4Ps of Amazon

4.3 Customer Relationship Management inside Amazon

5. Conclusion and Recommendation

2. Setting the Scene

2.1 Company Background

Amazon.com had billed their brand name as “Earth’s Biggest Bookstore.” It is an American-based multinational electronic commerce company. It was headquartered in Seattle and it is the largest online retailer in America.

Amazon.com was found by Mr. Jeff Bezos, who was graduated in computer science and electrical engineering and he was a senior vice-president in a Wall Street-based investment bank before running Amazon.

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Initially, Benzos chose the name ‘Cadabra’ for his new store but then he found that there are too many people got confuse with another brand, so it has been changed into Amazon.

Amazon is started as an online bookstore, while the largest brick-and-mortar bookstores and mail-order catalogs for books might offer around 200,000 titles; an online bookstore could offer more. Furthermore, Amazon.com has enhanced their products and services into various categories in a few years later, such as music CDs, videos, DVDs, computer games and other products.

Besides, the key factors of the value proposition of Amazon.com are convenience, selection, customer service and price. They believed that if they can satisfy their customers with those propositions, it can help them to add value in the future and to keep customer loyalty effectively.

After Amazon.com appeared, it has been bring up a huge threat to the traditional book retailers and some mega-chain bookstores. Barnes & Noble (B&N), which is located in the United States, is one of the competitors of Amazon.com. Since Amazon.com has presented to the market, B&N was just a physical bookstore. Because of the successful and the threat of Amazon, B&N is tended to develop its own online shop, which is mainly selling books and selling other entertaining products like Amazon.com. B&N is adopting both of the online and offline business. It can make use of them to reinforce the weaknesses that come of either online or offline business. So it must be the most threatening competitor of Amazon.

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2.2 Objective of Research

As mentioned above, Amazon.com has adopted a value added CRM system to enhance the customer loyalty and attracting new customers. Since CRM system is one of the strategies of internet marketing, there will have some literature reviews and discussions in the following part.

Firstly, it should be the part of literature review. Key factors which are under internet marketing and customer relationship management will be mentioned in order. At last, there is a conclusion about the relationship between marketing mix and customer relationship management.

Furthermore, Amazon.com is the leading company in running online shops and it also is the one of twenty innovative companies (Nussbaum, 2005). It was mainly adopting internet marketing to communicate with customers and it was famed with its CRM system. So, Amazon.com was chosen to be the object in the discussion part.

Finally, there should be the conclusion part. Refer to the case study; it showed how did CRM system can help a company to understand the needs of customers and the buying pattern of them. Also, there will be a summary of those key concepts of literature review and some suggestions made for the company or industry.

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3. Literature Review

3.1.1 Definition of internet marketing

Internet

    Following with the transformation of the times, using internet is more and more popular nowadays. The internet is a global system of lots of interconnected computer networks that using the standard Internet Protocol Suite (TCP/IP) to serves billon users’ worldwide (Carolyn F., 2006). The internet carries a vast array of information resources and services, most of them are the inter-linked hypertext documents of the World Wide Web (WWW) and the infrastructure to support electronic mail (Mary Lou Roberts, 2008)..

    Moreover, the internet has enabled or to speed up the creation of new forms of human interactions through instant messaging, internet forums, and social networking sites – such as Facebook, MySpace and Twitter. Some marketers got well sense about the trend in internet. They have some ideas to develop the Internet Marketing.

Marketing

    Marketing is a collection of activities that bring buyers and sellers together to make exchange that satisfy and give value to all parties. It also can be a profession, a process and a practice (Carolyn, 2006). Marketers seek to facilitate exchange by establishing profitable, mutually satisfying and long-term relationship with customers (Patricia Buckley and Sabrina Montes, 2002). They also mentioned that marketers have to communicate the information about products, negotiate exchanges, and transport, store, inventory, display, and transfer products to buyers. Besides, they also have to gather information about markets and competitors, perform marketing research, and use the results to improve product offers and customer satisfaction.

    As mentioned above, internet developed rapidly and widely applied on marketing. Let see how the integration of Internet and Marketing in the following part.

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Internet Marketing

    Internet Marketing is marketing in electronic environments and focused in the internet. It has boomed in recent years, most companies have used it mainly for advertising or promoting corporate images (Melody Y. Kiang, T.S. Raghu, Kevin Huei-Min Shang, 2000). They also highlighted that not many companies have fully utilized the power of Internet marketing as a new channel for handling transactions on the Internet. Throughout the internet marketing, companies can manufacture their products that support online commercial activities and where intermediaries selling their products that provided by other businesses and manufacturers also can sell their own products (Carolyn F., 2006).

    For companies which are applying their whole business online is called Clicks-only Enterprises and both online and offline business is called Bricks-and-clicks Enterprises (M.L. Markus, P. Banerjee and Louis Ma, 2002).

    Under the Internet Marketing, the marketing mix should be augmented. There were some new elements added, from 4Ps extended to 8Ps. The details of the change of marketing mix will be showed later.

2.1.2 Comparing the internet and traditional marketing

    Traditional marketing means that all of the activities were operated off-line. The main concept of marketing is used to identify the customers, to keep the customer and to satisfy the customers (Toivo S. Aijo, 1996). In the basic traditional marketing, it may involve advertising, direct marketing, public relations & publicity, events & experiences, sales promotion, and etc. Let see the advantages and limitations between internet and traditional marketing in the following part if some of them maybe not suitable for applying in the internet.

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Advantages of internet marketing

    Firstly, internet is a 24/7/365 environment which means twenty-four hours a day, seven days a week, 365 days a year (Barry Wellman, Anabel Quan-Haase, Jeffrey Boase, and Wenhong Chen, 2002). Based on this unique advantage, people can connect to the internet and have the ability to search for the products or information that they want all the time. Also, customers can search for the data in everywhere that have internet. This can make customers feel more comfortable and convenient and attract more sales than off-line marketing.

    Secondly, it also can work as a communication channel. Information can be exchanged between sellers and buyers in the internet marketing (Rolf Weiber and Tobias Kollmann, 1988). Both of them can easy to access, organize and communicating the information and to improve their interaction and perceptual experience (R.A. Peterson, S. Balasubramanian, B.J. Bronnenberg, 1997). In addition, companies can gather information of customers from the surveys and contests via internet for new product development and introduction, relationship building and personalization (F. Gardner, G. Roos, 1997).

    Thirdly, comparing with the traditional marketing, internet marketing can provide higher visibility and reach a much bigger customer database (J. Long, 1997). It also can help companies to streamline their transaction processing, in addition to reduce those task complexity, paperwork and transaction costs (B. Sandilands, 1997). Companies can improve their revenues by exploiting the cross-selling opportunities and customize the promotion and sales to some individual customers and to improve the flexibility (R.S. Kaplan and D.P. Norton, 2006).

    Fourthly, Internet marketing got one advantage that traditional marketing never have. As mentioned above, internet marketing applied the disintermediation which can shorten the supply chain and reduce some commission and operating costs (G.T. Lumpkin, S.B. Droege and G.G. Dess, 2002). Also, it can help to eliminate huge inventories, storage costs and the space rental.

2.1.3 Marketing Mix in the internet marketing

    Marketing mix is one of the major concepts in modern marketing (Kolter & Armstrong, 1996). It is defined as a set of tactical marketing tools to produce response in the target markets (Simon Cooke, 1994). It consists of everything the firm can do to influence the demand for its products, which traditionally refers to 4Ps including product, price, place and promotion (A. Campilho and Mohamed Kamel, 2004).

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As the competition is getting tougher day by day, it is very difficult to differentiate one offer from the other by manipulating only the 4Ps. Therefore, become necessary, to bring in more “Ps” into the existing marketing mix (Malini Majumdar, 2009).

    (Morrison A., 1996) disclosed that there are total 8Ps existed in according to its unique characteristics, and those new Ps are people, packaging, programming and partnership.

    In the following part, the traditional 4Ps (Place, Product, Price and Promotion) will be mentioned in details:

Place

    Place is a variable that where buyers purchase products and how products get there (Bakos, 1998).

There is a marketing channel inside the factor of place which is consisting of the individuals and enterprises to supply and distribute products to buyers.

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    As Fig 2.2 showed, it was classified as supply channels and distribution channels. Distribution channels can be direct, dual, or multi-channel (Frazier, 1999). Some products are distributed digitally throughout internet, especially in financial services and hospitality.

Product

    A product can be a good, service, idea, place, person, information, entertainment, organization, or other item of value offered in trade for something of value from the buyer for cash, credit, or other acceptable exchange unit (Carolyn, 2006). It also is a bundle of benefits that creates value for buyers, seller, and intermediaries.

    Consumers use products to satisfy their needs and wants; Enterprises use products to solve problems and carry on their activities.

    Product customization is a strategy that usually used to increase customer loyalty and allow consumers to customize a product online. The products were unique and manufactured on demand and exclusively for buyers (Dewan, Jing and Seidmann, 2003). In addition, there also has a similar strategy called mass customization. It is giving customers options within setting limits by the manufacturer (Silveira, Borenstein and Fogliatto, 2001). Mass customization is particularly well suited to internet marketing because it was worldwide reached and the facility for collecting information was interactively and quickly.

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    Besides, products sold online can be tangible goods, intangible services, digital products, or a mixture of these forms (Moon, 2004).

Price

    Price can be defined as a measure of value and is the amount that a customer pays for the product (Thomas and Holden, 2002). It should be determined by a number of factors including market share, competition, material cost and the customer’s perceived value of the product (W.V. Waterschoot and C.V. Bulte, 1992).

    A bricks-and-clicks business should set its online price to be compatible with its offline price. Within the internet marketing, price information is readily available online and the search engine can direct customers to a low-price retailer. Some convenience and shopping products are widely available online; consumers can shop around more easily via internet and seeking for the best price. That’s why internet marketing was growing up rapidly in recent years.

Promotion

    Promotion is planned, persuasive, targeted and goal-driven marketing communication (R. Health, 2009). Actually, promotion of traditional marketing is totally different from internet marketing. Most tradition marketing promotion is a one-to-many distribution process. It is focused on the print and outdoor advertising, sales promotion, personal selling, public relation and direct marketing. They tried to bring out the commercial messages in the morning newspaper, on television, through phone calls, signs on the clothing and store, highway billboards and the sides of trucks.

But there is a potential for internet marketing to be one-to-one. They will focus on their target customers to obtain their attention. Most of the internet marketing is applying the online tools to do some advertisements. Nevertheless, they have to be careful that consumers can ignore the promotion easily.

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2.1.4 Usage in internet marketing

    Since internet is getting more and more popular, internet marketing also adopted widely in lots of companies.

    Advertising and customer relationship management are the most common use in internet marketing. Internet advertising is the most visible promotion forms and including banner ads, sponsorships and other media ads, such as pop-ups, pop-unders, webcast ads and etc (P.J. Danaher and G.W. Mullarkey, 2003).

    Companies also will give out their latest information through E-mail, Facebook, Twitter, or MSN messenger. Customers also can track on their website to obtain information.

    Customer relationship management is a strategy which company use to acquire and retain customers. Details will be state in the following parts.

2.2.1 Definition of Customer Relationship management

    Customer Relationship Management (CRM) is neither a concept nor a project (S.A. Brown, 2000). It can be defined as an automation of horizontally integrated business processes involving front office customer contact points – marketing, sales and services via multiple, interconnected delivery channels (A. Mishra and D. Mishra, 2009). In addition, (McKie, 2000) has identified CRM is a highly incomplete environment and has come to mean different things to different people. And there is another view of CRM, it is the utilization of customer related information or knowledge to deliver relevant products or services to customers (Levine, 2000).

    Although CRM got so many different definitions as above, the most suitable one must be in the following sentence. CRM is a process that addresses all aspects of identifying customers, creating customer knowledge, building customer relationships, and shaping their perceptions of the organization and its products (R.K. Srivastava, T.A. Shervani and L. Fahey, 1999).

    CRM targets to build an infrastructure that used to develop a long-term relationship with customer.

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    CRM allows a company to identify all types of their customers and to choose the most suitable marketing program for them to willing to purchase their products and services. There are four types of CRM programs for a company to win back customers that who has defected, to create loyalty among existing customers and to cross-sell or up-sell services to existing customers and some prospective customers (B. Thompson, 2005).

2.2.2 Four types of CRM programs

Win Back or Save

    This is process that convincing a customer to stay with the company with their service or convincing them to rejoin once they left (J. Griffin, M.W. Lowenstein, 2001). It is the most time-sensitive one in those four programs. Some research indicated that a win-back campaign is four times more likely to succeed if contact is made within the first week of the detection than if it is made in the fourth week.

    The characteristics of customers planning to defect are reducing their overall usage and migrating to a competitor’s product. Companies also induced partial disconnects and reduced-usage customers into their win-back stage.

Prospecting

    Segmentation, selectivity and sources are the critical elements inside a prospecting campaign. It is an effort for companies to win new and first-time customers. Segmentation can help companies to define what customer needs from the organization and find out how valuable a customer is and help the companies to decide how much it is willing to spend to get the customers.

Loyalty

    Organization is trying to prevent customers from leaving by creating loyalty.

    There are three essential elements that affecting loyalty.

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Value-based segmentation allows the companies to determine how much it is willing to spend in retaining a customer’s loyalty. Companies may invest nothing in those customers that are being marginally profitable and encouraging unprofitable customers to leave actively (F.F. Reichheld, R.G. Markey and C.Hopton, 2000).

    After making the value-based segmentation, organization will try to adopt the needs-based segmentation to offer a customized loyalty program, just like providing airline miles and hotel points to attract customers to make consumption. Moreover, companies should offer some customized services or special assistance to urge the loyalty too. If they focused on the needs of customers, they can achieve the same level of loyalty with less investment.

    Predictive churn model is the finally component of a successful loyalty program should have. This model is using the existing demographic data and usage history to predict the customer loss. Companies should find out the vulnerable customers and to offer some alternative products to them then to increase their loyalty and win them back.

Cross-sell / Up-sell

    Both of the up-sell and cross-sell are aimed to increase the amount that the customers spend with the company.

    Cross-sell is providing a complementary product to their customers. It should be based on the customers’ needs, buying behavior and reaction to the previous contacts. Estate agent cross-selling mortgages to house buyer is a good example for cross-sell.

    Up-sell is quite similar, but instead of offering a complementary product. Organization is offering some enhanced product to their customers, inducing them to buy some add-on or more expensive products. Such as buying a computer then was up-sold by a service warranty for three years.

2.2.3 Stages of Evolution in CRM

There are three important stage of evolution in CRM. Two of them will be discussed in details in the following part.

Customer Acquisition

This is the Stage I inside the evolution. Companies had spend lots of time and money in this stage which is aim to analyze and collect the information of their target customer. Also, companies need to spend on the best-practice benchmarking to give some good impression to their prospecting customers and conducting initial customer research. After the acquisition of customers, companies have to plan the next step – how to retain customers effectively.

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Customer Retention

    The focus will be shifted to maximize customer’s relationship in Stage II. Customer retention means holding on to customers in a marketing sense (E. Peelen, 2005). In this stage, companies should start to segment their customers into different groups with similar needs in order to serve their more effectively.

2.2.4 Customer-supplier relationship

    There is a common understanding that CRM is a relationship between customer and supplier. It can be present at various levels and different compositions (R. W. Glenn and J.G. Barnes, 1998).

    Some relationships are continued because there are not better choice appeared and there would be some problems occurred if terminated a relationship (B.B. Jackson, 1985). There was a theory called commitment and trust which is determined the intention to continue a relationship in close relationships which is dependent upon them.

Commitment – Trust

Commitment is an exchange partner believing the relationship can be ongoing with another one and it is very important to warrant maximum efforts at maintaining the relationship (R.M. Morgan and S.D. Hunt, 1994). Also, Commitment had defined as “an enduring desire to maintain a valued relationship” (Moorman, Zaltman and Deshpande, 1992). Within this theory, its objective is to continue the relationship, producing outcomes which are as beneficial as possible for both exchange partners (E. Peelen, 2005).

Besides, in Fig.2.2.4, (Johnson, 1997) has identified that there are three different forms of commitment identified. Personal commitment is made while someone who is satisfied and willing to continue the relationship with others. In moral commitment, customers are feeling obligation and supposed to continue the relationship. Lastly, for structural form, people got a concept that it no escaping it. Investment cannot be done away without making substantial investments in new resources.

Trust is “the perception of confidence in the exchange partner’s reliability and integrity” (R.M. Morgan and S.D. Hunt, 1994). It is used to involve honesty, fairness, responsibility and helpfulness.

Honesty of above is the most important factor in trust. It is important to find out the partner that is trustworthy and keeps promises.

In conclude, trust should be grown by those parties and both of them should invest effort in the relationship to have positive consequences for commitment.

To sum up, commitment and trust are both of the factors of Loyalty. Loyalty means determining what customers needs and making the best effort to satisfying them. It seems to be the concept based on commitment and trust. If the companies can obtain both of the commitment and trust from a customer, that means they were able to keep their loyalty successfully.

2.2.5 How CRM Applied in the Internet Marketing

Under the internet marketing, there are lots of operational data tools. Data warehousing and data mining are the particular one which is always applied in the CRM system.

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Data warehousing

A data warehouse is both an electronic storage place for massive amounts of data stored in databases and a system that allows extraction and management of large quantities of data (Carolyn F., 2006). Data are extracted from source systems, cleaned/scrubbed, transformed, and placed in data stores (Gray and Watson, 1998).

Since the business environment has become more global, competitive and complex. CRM is creating requirements for large, integrated data and advanced analytical capabilities. More data are captured by organizational systems (e.g., online shopping cart and clickstream) or can be purchased from some data collection companies.

Data Mining

This is a class of machine-driven methods that look for hidden patterns and relationships in databases and warehouses (Carolyn F., 2006). It can be defined as ‘the automated discovery of interesting, non-obvious patterns hidden in a database that have a high potential for contributing to the bottom line’ (P.R. Peacock, 1998). It is a both descriptive and predictive tool.

Data mining techniques can compile those data that the companies want to collect and using the sifting functions to help them to identify the people they want. Those data will be created as a profile and segmented in groups or forecasting their attrition and retention rates by the data mining tools.

After adopting those internet marketing tools, companies can identify the preference and buying behavior of their customers more easily. It can help them to increase their sales if they can make use of those data effectively.

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Linkage (Relationship between 4Ps and CRM and data tools)

To conclude, as mentioned before, there were mainly 4Ps in marketing and how they can bring up impact to the targeted markets. But in fact, creating customer loyalty and achieving the stage of customer acquisition and customer retention are then related to 4Ps. Also, companies can make good use of those data tools to enhance the relationship between 4Ps and CRM.

Product

CRM can support product development and improvement. Companies can better understand the preferences and buying behaviors of existing and new prospecting customers via database applications and those data tools (Wang and Jiang, 2006). After finishing the information analysis, the data can be connected with the products developments and corrections.

Besides, companies may base on the information of different customers to do the product customization. This action can better maintain and enhance the customer loyalty. Moreover, competitive advantage also will be increased at the same time.

Price

For opening business online and adopting the internet marketing, it should be more cost saving because they can mainly be focused on their target customers.

Related to the pricing strategy, firms should take risk on the mistake of initial cost set up, demand, market position and product position, so that they must revise its strategies to fit those conditions. By using the CRM system and tools, they can judge whether the price adjustment can increase revenue according to the existing data in sales, cost and the price that customer’s most preferable (Jaworski and Kohli, 1993).

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Place

As said above, marketing channel is important to support and distribute products to customers. And CRM can support channel management exactly. It can let companies to have capabilities to support the creation of new markets or channels (Chang, et al., 2002).

Furthermore, because of the convenience of internet marketing, customers can make their order round-the-clock and do not need to worry about the problem of the place of the company is too far away. And most of the online shop would like to provide free delivery if the amount met the requirements of companies.

Besides, there is a special feature via data tools that can attract existing customers to make purchases again. When customers making their initial purchase, they have to input their personal information, such as address and mobile numbers, but they do not need to fill in those data in the second time. It is because those data will be auto saved by the CRM system and it can cut down the time that customer making purchase.

These can help to attract some new prospecting customers to meet the customer acquisition stage and increase the loyalty to keep retention of customers.

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Promotion

CRM emphasized customer understanding and the interaction with customers. It can segment customers according to their background and needs, and then execute one-to-one marketing to gain higher return rate and profit in future.

Besides, that information captured in the CRM system and data tools should be the resources of segmentation. Furthermore, companies also should refer to the database to make some personalized promotion to customers. If the customers felt that they are unique and always obtaining exclusive offer, their loyalty also will be enhanced. That means the degree of commitment and trust of customer are also increased.

Lastly, word-of-mouth is also very important for a company. If a company got an effective CRM system, the percentage of the rate of customer retention should be high too (Anderson, 1998). It seems to be most of the customer were satisfied with their service. Thus, customers would like to recommend the service to their friends (Rayport and Jaworski, 2002). The company also can receive the free promotion of “word-of-mouth”.

4. Case Study – Amazon.com