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Customer Relationship Management

Notes Data mining, the extraction of hidden predictive information from large databases, is a powerful
new technology with great potential to help companies focus on the most important information
in their data warehouses. Data mining tools predict future trends and behaviours, allowing
businesses to make proactive, knowledge-driven decisions. The automated, prospective analyses
offered by data mining move beyond the analyses of past events provided by retrospective
tools typical of decision support systems. Data mining tools can answer business questions that
traditionally consumer time to resolve. They scour databases for hidden patterns, finding
predictive information that experts may miss because it lies outside their expectations.
Most companies already collect and refine massive quantities of data. Data mining techniques
can be implemented rapidly on existing software and hardware platforms to enhance the value
of existing information resources, and can be integrated with new products and systems as they
are brought online. When implemented on high performance client/server or parallel processing
computers, data mining tools can analyze massive databases to deliver answers to questions
such as, “Which clients are most likely to respond to my next promotional mailing, and why?”
5.1 360 Degree Marketing

The concept of 360 Degree Marketing implies developing holistic marketing campaigns that
reach all points of contact that surround potential customers. It’s the next step in the evolution of
cross-channel marketing, dealing mostly with client-centred media strategy and media
integration. A full 360 Degree Marketing strategy must include a heavy component of online
marketing initiatives, encompassing all aspects of internet marketing, such as SEM and SEO,
social media optimization and mobile web applications and technologies, but it also needs to
rely on traditional offline marketing strategies, including television, radio, print advertising,
promotional events and other offline media.
Eric Grenier says, “The 360 degree marketing concept looks holistically at all of the touch points
surrounding the consumer, wherever they are. You can think of it as the next evolution of
“cross-channel” marketing, as it’s less about media integration and more about a consumer-
centric media strategy. It not only includes a heavy online component, but also television, radio,
print, events and other offline media.”

5.1.1 Concept

Markets are all around us. The idea that, as marketers, we simply need to focus on our external
customers and prospects is mistaken, because in this connected world of ours, markets go way
beyond this limited view. Think of the whole market and look around you all 360 degrees. It
might help to think of it in terms of an old fashioned ship’s compass (or a high tech one if you
prefer). When you do that you can plot markets at each point of the compass rose and this is
what, for me, that compass looks like in figure.
There are, then, four distinct points that we need to consider in 360 Degree Marketing™ and they
consist of:
1. External markets (our traditional market focus)
2. Internal markets (our own organisation)
3. Suppliers (their support and continued faith in our organisation is key)
4. Stakeholders (the many organisations that influence the well being of our business)

In a connected world they are all inter-related and networked up. So what we say to one part of
this 360 Degree market has impact and implications on many or all of the others. Yet for most
marketers their focus is almost exclusively the traditional external markets. The other points of
my 360 degree compass barely register. So, it may pay to review each of these in turn.

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