CRM

Question 1

What does CRM stand for?

Answer 1

Customer Relationship Management

Question 2

What are the main goals of CRM?

Answer 2

Acquire new customers, retain existing ones, and enhance customer relationships

Question 3

What is customer intimacy in CRM?

Answer 3

Personalized interactions to foster customer loyalty

Question 4

Define Operational CRM.

Answer 4

Supports day-to-day customer interactions (front office) through automation

Question 5

Define Analytical CRM.

Answer 5

Analyzes customer data for insights, mainly for back-office use

Question 6

What is a Customer-Facing CRM System?

Answer 6

A CRM system where employees directly interact with customers

Question 7

What is a Customer-Touching CRM System?

Answer 7

A CRM system where customers interact with technologies (e.g., FAQs)

Question 8

What does RFM stand for in CRM?

Answer 8

Recency, Frequency, Monetary value

Question 9

What does ‘Recency’ refer to in RFM?

Answer 9

The time since a customer’s last purchase

Question 10

What does ‘Frequency’ measure in RFM?

Answer 10

How often a customer makes purchases

Question 11

Define ‘Monetary Value’ in RFM.

Answer 11

Amount a customer spends on purchases

Question 12

Name two traditional CRM touchpoints.

Answer 12

Phone and physical store visits

Question 13

Name two digital CRM touchpoints.

Answer 13

Websites and email

Question 14

1

Answer 14

1

Question 15

Key components of a CRM system?

Answer 15

Sales, Marketing, Service

Question 16

What is Sales Force Automation (SFA)?

Answer 16

A system that automates sales processes and tracks transactions

Question 17

What does CRM cross-selling mean?

Answer 17

Marketing additional products based on a customer’s past purchases

Question 18

What is CRM upselling?

Answer 18

Offering higher-value or premium options to customers

Question 19

Define bundling in CRM.

Answer 19

Selling a group of products together at a discount

Question 20

What is a CIC in CRM?

Answer 20

Customer Interaction Center for multi-channel customer support

Question 21

What are the three phases of CRM evolution?

Answer 21

Reporting, Analysis, Prediction

Question 22

What question does CRM Reporting answer?

Answer 22

“What happened?”

Question 23

What question does CRM Analysis answer?

Answer 23

“Why did it happen?”

Question 24

What question does CRM Prediction answer?

Answer 24

“What will happen?”

Question 25

Define CRM campaign management.

Answer 25

Planning and managing marketing campaigns to target customers

Question 26

How does CRM segment customers?

Answer 26

By analyzing Recency, Frequency, and Monetary value (RFM)

Question 27

Name a key CRM sales metric.

Answer 27

Revenue per customer

Question 28

Name a key CRM marketing metric.

Answer 28

Campaign response rate

Question 29

What is a critical CRM service metric?

Answer 29

Customer retention rate

Question 30

How does AI assist with CRM insights?

Answer 30

By analyzing customer behavior and buying patterns

Question 31

What CRM function does AI-powered chatbots support?

Answer 31

Automated customer support

Question 32

Define sentiment analysis in CRM AI.

Answer 32

Analyzing customer feedback to gauge satisfaction and sentiment

Question 33

How does AI enhance CRM lead scoring?

Answer 33

By predicting conversion likelihood based on attributes

Question 34

What routine tasks can AI automate in CRM?

Answer 34

Data entry, scheduling follow-ups, updating customer information

Question 35

What is the role of a CRM data warehouse?

Answer 35

Stores customer data for analysis and insights

Question 36

Define 'customer churn' in CRM.

Answer 36

When customers stop doing business with the company

Question 37

Why is it more costly to acquire a new customer than retain one?

Answer 37

It requires 5-10x the effort and resources

Question 38

What is a CRM loyalty program?

Answer 38

A program that rewards repeat purchases to increase loyalty

Question 39

What is personalized marketing in CRM?

Answer 39

Tailoring marketing based on individual customer profiles

Question 40

How does a 360-degree view benefit CRM?

Answer 40

It provides a complete view of each customer’s interactions