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jerryking : crm   10

Auction houses embracing digital technology to sell to the new global rich
SEPTEMBER 18, 2014 by: John Dizard.

....The auction houses have been under pressure to adapt to this changing universe. While the most visible aspect of the houses’ digital revolution may be their online auctions, the most essential is in the systematising and networking of their customer, market and lot information. Without that, the auctioneers would lose control of their ability to charge gross margins in the mid-teens as intermediaries of the $30bn global art auction market....Within the quasi-duopoly of Christie’s and Sotheby’s at the top of the auction world, Christie’s has now moved to implement what it calls its “digital strategy”....Christie’s now has James Map (as in founder James Christie), a sort of private internal social network that allows specialists, client service staff, support staff and executives to see what is known about a client and his tastes. Past auction records, relatives’ purchases and sales, statistical inferences on how likely clients are to move from buying an expensive watch online to participating in a high-end evening sale – it all can be in the mix.

The idea, Murphy explains, was “to create an internal app that spiders into our database of information and brings up on our internal [screen] environment lots of connectivity. This is faster and better than the email chains [that it replaced].”....This summer, Sotheby’s announced a partnership with eBay, the online auction giant. While the details of the partnership are still being developed, it is understood eBay will distribute live Sotheby’s auctions to its global audience of 150m buyers.

Ken Citron, Christie’s head of IT

The digital strategy is also making it easier to take part in auctions. Even with all the unseen know-your-customer checks now required by financial supervisory agencies, it has become much faster and easier to register as an auction house client. About half now do so online.

But while the online revolution may have left some auction houses behind, for others it is generating new business. Auction houses used to regard the sale of smaller, cheaper objects from, for example, estate liquidations as an annoying loss-leader business that just wasted their specialists’ time. Now, however, many are making money selling objects for $2,000-$3,000; it’s just a matter of cutting transaction costs. “We have a new app with which you can take a picture, push a button, and it goes to a specialist, with a description. Then the specialist can decide if it might fit into an auction,” says Citron.
auctions  Sotheby's  Christie's  data  art  collectors  high_net_worth  partnerships  eBay  duopolies  digital_strategies  CRM  IT  margins  intermediaries  internal_systems  loss_leaders  transaction_costs  cost-cutting  know_your_customer  Bottom_of_the_Pyramid  estate_planning  liquidity_events  online_auctions  digital_revolution 
november 2016 by jerryking
Using CRM Data to Segment Customers: How It Helps Sell More
April 2014 | Inside CRM |David Gillman.

Classifying the prospects is more difficult. Automated systems help. With many characteristics of current customers in the CRM database, statistical processes run over the customer master file to find key characteristics of customers in each group. Those characteristics are then back-applied to the prospect list. Some common differentiating fields might be company size, number of contacts, age of the first record, location, and source of the lead, and similar data fields that may be common in the CRM database.
CRM  market_segmentation  howto  data  customer_segmentation 
may 2014 by jerryking
An online revolution - How new digital technologies will change the Canadian political landscape    
Mar 28 2012 | | Campaigns & Elections | by Geoff Sharpe.

Part of the problem is that money plays less of a role in Canadian politics than American politics. Donation and spending limits mean campaigns must use funds cautiously. Innovation is often stifled in favor of the status quo. Campaigns create a website, tweet to their followers and call it digital strategy. South of the border, campaigns and professional consultants invest heavily in client relationship management (CRM) software, data infrastructure and sophisticated outreach tools. Only major parties and well-financed campaigns can afford these technologies; smaller municipal and advocacy campaigns lack advanced tools to capitalize on the emerging and increasingly important digital landscape....Upstart campaign technologies are easy to use, cost very little and can be extraordinary powerful. One such platform is NationBuilder, which provides a number of cutting-edge digital tools including a free website, a social CRM system, fundraising software, campaign database and email service all in one integrated package. Prices start at $20 a month and rise depending on the size of the database....

Geoff Sharpe is an experienced digital and online organizer and currently works for Navigator Ltd. as a digital strategy consultant. He can be reached at gsharpe@navltd.com
Canada  political_campaigns  CRM  Canadian  SaaS  elections  tools  NationBuilder  campaigns 
january 2014 by jerryking
Service-Software Firm Finds Service Is Crucial - WSJ.com
April 1, 2003 | WSJ | Paulette Thomas.

The Lesson: The seller of customer relationship software forgot its own relationship with customers. Need we say more.
CRM  software  Nasdaq  lessons_learned 
may 2012 by jerryking
THE 2009 MARKET LEADERS
Anonymous. Customer Relationship Management. Medford: Sep 2009. Vol. 13, Iss. 9; pg. 32, 12 pgs
ProQuest  CRM  marketing  market_leadership  Igloo 
february 2011 by jerryking
Using data to enhance customer experience
: January 24, 2006 | FT.com | By Ian Limbach. "“Call
centres are often seen as a way to manage costs rather than enhancing
the quality of [customer] service,” warns Wes Hayden, CEO of Alcatel’s
Genesys subsidiary. This has discouraged investments in new technology
and led management to measure efficiency with metrics such as throughput
and call duration, rather than customer-centric measures. “There needs
to be a change in C-level executives’ view of call centres,” he says.
This narrow focus has led to call centres being one of the most
under-used corporate assets today, says McKinsey. Beyond fielding
customer complaints, the call centre should be closely integrated with
other company functions such as sales & marketing.

Some leading companies are focusing on ways to turn calls from customers
into new selling opportunities, and finding that callers are more
receptive to buying after a positive service experience than they are
when reached by outbound telemarketing campaigns. "
call_centres  contact_centres  customer_experience  McKinsey  customer_centricity  CRM  data  upselling  cross-selling  unstructured_data  customer_churn  predictive_modeling  metrics  mismanagement  underutilization  assets  cost_centers  C-suite 
august 2010 by jerryking

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