This report provides a five-step approach to successful CRM that can be implemented in newspaper sales, advertising or editorial. It outlines the implementation process of each of the three key components of CRM - knowledge, technology and people and draws on case studies by industry leaders for examples of winning strategies.
In this report you will read about:
One newspaper which increased advertising call rates by 50% and the number of advertisers by 30%.
Another which cut the number of disputes reaching its legal department by 30%.
Another newspaper which generated nearly 70,000 new subscription orders by e-mailing users of their website.
That newspaper also increased levels of retention from industry average of 60% to 94%.
Another which found that the cost of converting internet users to the printed product was a tenth of the cost of traditional canvassing.
A newspaper losing 3% of its sales per year will reduce the lifetime value of its circulation by 26%.
An annual loss of 3% of sales has a net present value of 2.82 times the circulation revenue.
CRM enables publishers to identify, select, acquire, develop and retain their most valuable customers.
There are two reasons why newspaper publishers must establish closer reader relationships:
Readers are increasingly turning to other media for their information and advertising needs - new media are intrinsically more interactive. We need to understand readers’ needs in order to improve our current products and establish new alternatives.
As well as seeking alternative means of communication, advertisers are adopting CRM themselves, in order to establish direct relationships with their customers, bypassing the role of the media. We must exploit our relationships with our readers more effectively in order to service our advertisers more effectively.
The content of the report includes:
Report summary
7 Benefits of CRM for newspapers
7 Ways to make your newspaper business better through CRM
7 Key points on implementation of CRM
INTRODUCTION TO CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
What is CRM?
The threats and opportunities of CRM - inside and outside
The value of CRM to the newspaper business
THE CRM PROCESS
The ingredients of successful CRM
Overview of the five-step CRM process
The role of campaigns
CRM IN THE READER MARKETING FUNCTION
Step-by-step through reader marketing CRM
CRM and the single-copy sale
Understanding churn
IMPLEMENTING CRM
Planning for CRM
CRM activity
Centralising customer services
CRM technology
CRM people
Managing intermediaries
The role of interactivity and mobile communications
Implementing CRM in emerging markets
Putting a value on CRM
FUTURE OPPORTUNITIES
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