DETAILS: Cost: $1975 Length: 2 days When: September 28-29 Time:  8 a.m. - continental breakfast 8:30 a.m. - 4 p.m. - class Location: Buckhead Center Tower Place 200, Ste. 500 3348 Peachtree Rd. NE Atlanta, GA 30326 directions>>

Overview:
Do you really know your customers?  In recent years, managers have come to realize the importance of measuring and maximizing the lifetime value of individual customers – and with good reason.  After all, why spend valuable marketing dollars to attract and retain minimally profitable customers when you can spend the same amount – or less – to capture and cultivate more profitable ones?

The new model is Customer Lifetime Value.  This customer-centric strategy holds tremendous implications for managing customers for profitability. By understanding the principals, optimizing the use of databases, implementing best industry practices, and deploying the right marketing tools, you can make significant changes that will maximize your customer value, now and into the future.

Through a dynamic combination of real-world case studies, hands-on individual and group exercises, and facilitated discussion, you will get the tools and techniques you need to implement cutting-edge marketing methodologies in combination with superior customer management strategies – all designed to help your firm maximize growth and profitability.

watch Dr. Kumar talk about the course

download the course brochure
 
Participants Will Learn to:

• Determine the value of customers.
• Correlate customer acquisition and retention costs to customer profitability.
• Understand the profitability implications of customer transactions through multiple channels.
• Know how much they should invest in building their brand to maximize customer profitability.
• Identify whether your most profitable customers are also your best customers in providing the maximum referral.
• Determine the strength of individual customer relationships.
• Know when or whether to intervene to prevent customer attrition.
• Offer the right product to the right customer at the right time.
• Manage the merchandise return process for maximum profitability.
• Employ the best strategies for cross-selling/up-selling.
• Develop the right strategic orientation to implement a customer-focused strategy.
• Find out how to link their branding investment to Customer Lifetime Value.

Course participants will earn a certificate from the Center for Excellence in Brand & Customer Management and also 1.5 Continuing Education Units (CEU).

Detailed Agenda:

Day One
Overview of Profitable Customer Management
In this section, you will begin the process of moving from a product-oriented mindset to a customer-centric strategy that will help you get the maximum return on your marketing dollars.
 
Day One topics will include:

• Customer-Based Strategy
  o   Customer Lifetime Value (CLV) concept
  o   Customer segmentation
• Measuring Customer Value
  o   Analyzing purchase patterns
  o   New and different ways to measure CLV
  o   Calculating and evaluating retention rates
• CLV-Based Marketing Strategies
  o   Customer selection
  o   Optimal resource allocation across customers and multiple channels
  o   Linking acquisition and retention to profitability
• Effective Cross-Selling Strategies
  o   Predicting which products/services to offer to which customers and
       when
  o   Increasing cross-selling and up-selling opportunities
  o   Combining purchase sequence analysis and optimal resource allocation
  o   Addressing implementation challenges
• Dynamic Churn Analyses
  o   Predicting customer attrition
  o   Intervention strategies, including if or when, how and at what cost?

Day Two
Strategies and Processes for Profitable Customer Management
In this section, you will begin to pull it all together, combining what you learned about customer-centric marketing with practical implementation strategies that you can put to work right away.
 
Day Two will address:

• Managing the Merchandise Return Policy
  o   Defining and measuring return metrics
  o   Understanding the drivers of return
  o   Managing the returns
• Linking Branding Investments to CLV
  o   Understanding, measuring and optimizing brand value
• Creating a Customer-Centric Organization
  o   Creating interactive orientation
  o   Organizational realignment
  o   Implementation challenges
• The Power of Referral Marketing
  o   Defining and measuring Customer Referral Value (CRV)
  o   Linking CLV to CRV
  o   Quantifying benefits of word-of-mouth
• Uncovering the Buyer/Seller Relationship
  o   Understanding the drivers of the relationship
  o   Measuring and maximizing the strength of the relationship
• Profitable Customer Management – Pitfalls and Remedies
  o   CRM pitfalls
  o   Deriving value from CRM initiatives
• Leadership and Organizational Change
  o   Key steps to becoming a truly customer-centric organization 
  o   Changing organization mindset
  o   Cultivating employee buy-in
  

Who Should Attend:
Chief Marketing Officers
Marketing Directors
Market Research/Intelligence Directors
Customer Relationship Managers
 
Faculty:
Dr. V. Kumar is a world-renowned author and expert on marketing research methods along with brand and customer management strategies. He was recently ranked as one of the top five marketing experts in the world.
 
He recently joined the J. Mack Robinson College of Business at Georgia State University as both the Richard and Susan Lenny Distinguished Chair Professor of Marketing and the Executive Director of the Center for Excellence in Brand and Customer Management. He has been listed in Who's Who Among Global Business Leaders for his leadership and achievement and he is also Chairman and CEO of IMC International.
 
Dr. Kumar's expertise covers virtually all areas of customer relationships, and he has worked with customer databases to conduct marketing research and build direct marketing programs for leading multinational and Fortune 500 companies, including:

• ING 
• Wells Fargo & Company
• AT&T Inc.
• BP Amoco
• Shell
• IBM Corp.
• HSBC 
• Hewlett-Packard Co.
• P&G
• The Coca-Cola Company
• American Airlines
• DuPont
• AOL
• Polo Ralph Lauren
• Bristol-Myers Squibb Co.
• MGM Mirage
• Equifax