Detailed course description
Managing customer relationships has become critical as the firm’s ability to know the needs, desires and behaviors of its customers and to communicate with them individually has increased through the use of information technology, and it has become feasible to customize products/services to meet each customer’s needs.
This course will cover analytical approaches for customer relationship management and customer valuation at each stage of the customer lifecycle, dealing with problems such as: identification of good prospects for customer acquisition, customer development via up-selling or cross-selling; and customer attrition/retention management. The course will introduce issues, techniques and terminology associated with database marketing and data mining for analytical CRM. A major component of the course will be a series of hands-on analysis of customer databases using statistical software. Specific analyses will address the following CRM problems: measuring customer lifetime value; estimating return on marketing investment; identifying prospects for cross-selling; and building predictive models to select the best targets for a marketing campaign.
The goal of this course is to make you familiar with the methods and frameworks for:
- Measuring and managing the customer experience along all relevant touch points
- Estimating customer value and differentiating the marketing mix accordingly.
- Designing loyalty program.
- Leverage warehouse data for churn analysis and response modeling.
Prof. Dr. Kristof Coussement is Associate Professor of Marketing Analytics and Chair of the Excellence Center for Database Marketing at IÉSEG School of Management (Lille Paris, France) (EQUIS,AACSB). His academic research work is published in national and international peer-reviewed journals, while he presented his research on various academic and professional conferences around the globe. His main research interests are all aspects in Customer Intelligence, Social Media & Online Community Intelligence, and Business Failure Detection using data- and text-mining techniques. During the past years, he had the opportunity to collaborate on projects with national and international companies from a large number of industries to improve their CRM strategy. Prof. Dr. Kristof Coussement is founder and committee member of the professional organization BAQMaR, i.e. the Belgian Association for Quantitative & Qualitative Marketing Research, and Academic Director of the BAQMaR Academy that offers executive coaching on emerging and hot marketing research topics.