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CRM Essentials
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CRM Essentials
CRM Essentials
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1
Question
What does CRM stand for and what is its strategic purpose?
Page 1
Answer
Customer Relationship Management; a strategic approach integrating people, processes, and technology to understand customers.
2
Question
Define Operational CRM.
Page 1
Answer
A CRM type that automates and streamlines daily business processes such as sales, marketing, and customer support.
3
Question
Name the three pillars of CRM.
Page 1
Answer
Operational, Analytical, and Collaborative.
4
Question
During which era was ACT! introduced and in what year?
Page 1
Answer
The 1980s‑mid‑90s era; ACT! launched in 1987.
5
Question
What major technological shift characterizes CRM in the late 2010s‑2020s?
Page 1
Answer
The integration of Artificial Intelligence for advanced analytics and personalized customer experiences.
6
Question
Give an example of a CRM that emphasizes marketing automation.
Page 2
Answer
Keap CRM, which focuses on marketing automation and sales‑pipeline management for small businesses.
7
Question
What is the primary function of Analytical CRM?
Page 2
Answer
To gather, analyze, and interpret customer data to provide actionable insights and forecast trends.
8
Question
Identify a CRM platform known for a collaboration‑first design.
Page 2
Answer
Zoho CRM.
9
Question
List two future trends of CRM mentioned in the material.
Page 2
Answer
IoT integration and AR/VR experiences.
10
Question
Define Customer Analysis.
Page 3
Answer
The process of understanding who customers are by examining demographics, behaviors, needs, and purchasing patterns.
11
Question
What are the two focus areas of Behavioral Analysis?
Page 3
Answer
Buying criteria and purchase patterns.
12
Question
Name three bases for segmenting customers.
Page 3
Answer
Geographic, demographic, and behavioral segmentation.
13
Question
What is Customer Lifetime Value (CLV)?
Page 3
Answer
The total monetary value a customer is expected to bring over the entire duration of their relationship with the company.
14
Question
Provide the formula for Annual Revenue as defined in the notes.
Page 3
Answer
Revenue = Price of Goods/Service × Quantity Sold.
15
Question
Define Customer Retention.
Page 4
Answer
The ability of a business to keep its customers over time and encourage continued purchasing.
16
Question
Using the case scenario, calculate Sam’s weekly revenue.
Page 4
Answer
(79 × 2) × 5 = 790.
17
Question
What does the acronym CAC stand for?
Page 4
Answer
Customer Acquisition Cost—the total expense incurred to acquire a new customer.
18
Question
Name one retention strategy that maximizes CLV.
Page 4
Answer
Personalization using data to tailor offerings and communications.
19
Question
Calculate the Customer Acquisition Cost (CAC) shown in the case scenario.
Page 5
Answer
CAC = 5,000 ÷ 50 = 100 per customer.
20
Question
List the five characteristics of a CRM Vision.
Page 5
Answer
Aspirational, inspirational, achievable, concise, and memorable.
21
Question
What are the five characteristics of a CRM Mission?
Page 5
Answer
Specific, actionable, measurable, realistic, and relevant.
22
Question
State three primary CRM objectives.
Page 6
Answer
Improve the customer's buying journey, increase operational efficiency, and boost customer retention.
23
Question
What core components are included in a CRM system?
Page 6
Answer
Software, technologies, and processes used to manage interactions with current and potential customers.
24
Question
Name two key features of Salesforce.
Page 7
Answer
Centralizes customer data and improves sales productivity/forecasting.
25
Question
Which HubSpot hub is designed to manage customer support requests?
Page 7
Answer
Service Hub.
26
Question
What is CRM integration?
Page 7
Answer
Connecting CRM software with other business systems to enable data sharing and workflow automation.
27
Question
What benefit does CRM integration with ERP provide?
Page 8
Answer
Improved data synchronization and enhanced customer insights.
28
Question
List two functions of marketing automation within a CRM.
Page 8
Answer
Email campaigns and social media management.
29
Question
Name three types of customer service channels.
Page 8
Answer
Face‑to‑face, phone, and live chat.
30
Question
What is the purpose of the Customer Service focus area?
Page 8
Answer
To build relationships and deliver positive experiences before, during, and after purchase.