Blockchain for Transformation in Digital Marketing

2022 ◽  
pp. 274-298
Author(s):  
Parminder Varma ◽  
Shivinder Nijjer ◽  
Bhalinder Kaur ◽  
SANDHIR SHARMA
Keyword(s):  
Relationship Management ◽  
Digital Transformation ◽  
Customer Relationship ◽  
Security And Privacy ◽  
Digital Marketing ◽  
Consumer Experience ◽  
Promising Technology ◽  
Doing Business ◽  
Traditional Approaches ◽  
Number Of Firms

Today, an increasing number of firms are embracing blockchain as part of their efforts to achieve operational efficiency and improve performance, thereby acting as a catalyst to bring about digital transformation. Gartner listed blockchain as the most promising technology in digital marketing in the year 2019. Blockchain is driving digital transformation by forcing organizations to rethink how they operate, in terms of identifying ineffectiveness of traditional approaches to doing business, to address their business needs, promote innovation, and through establishment of standard frameworks. Blockchain shows massive disruption potential in the area of customer relationship management and enhancing consumer experience, besides improving trust, security, and privacy. Therefore, this chapter focuses on providing an enlightenment on how blockchain can specifically address the areas of transformation in digital marketing, prominent frameworks in use, and listing the benefits and challenges of implementing this technology.

Privacy and Security in the Age of Electronic Customer Relationship Management

2011 ◽  
pp. 1279-1301
Author(s):  
Nicholas C. Romano Jr. ◽  
Jerry Fjermestad
Keyword(s):  
Customer Relationship Management ◽  
Personal Information ◽  
Relationship Management ◽  
Unintended Consequences ◽  
Customer Relationship ◽  
Security And Privacy ◽  
Exchange Relationship ◽  
Privacy And Security ◽  
Goods And Services ◽  
A Value

This article presents a value exchange model of privacy and security for electronic customer relationship management within an electronic commerce environment. Enterprises and customers must carefully manage these new virtual relationships in order to ensure that they both derive value from them and minimize unintended consequences that result from the concomitant exchange of personal information that occurs in e-commerce. Based upon a customer’s requirements of privacy and an enterprise requirement to establish markets and sell goods and services, there is a value exchange relationship. The model is an integration of the customer sphere of privacy, sphere of security, and privacy/security sphere of implementation.

E-CRM

2010 ◽  
pp. 436-444 ◽  
Author(s):  
María Rosa Llamas-Alonso ◽  
Ana Isabel Jiménez-Zarco
Keyword(s):  
Competitive Advantage ◽  
Market Share ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Customer Relationships ◽  
Customer Relationship ◽  
The Past ◽  
The Cost ◽  
Business Philosophy ◽  
Number Of Firms

As competition and the cost of acquiring new customers continue to increase, the need to build and enhance customer relationships has become paramount for businesses. The building of strong customer relationships has been suggested as a means for gaining competitive advantage (Mckenna, 1993) so, in today’s marketplace, a growing number of firms seek to develop profound, close and long-lasting relationships with their customers since it is much more profitable to keep and satisfy current customers than to manage an ever-changing customer portfolio (Reinartz & Kumar, 2003; Ross, 2005; Llamas-Alonso et al. 2009). This one is a consequence of many paradigmatical changes in the marketing field during the past decades, such as a transition from a focus on the product, transactional marketing, acquiring clients (responsive marketing approach) and market share towards a customer centric approach, relationship marketing, two-way communication, retaining customers (proactive and holistic marketing approaches) and share of customer. Thus, in this fastmoving and highly competitive scenario Customer Relationship Management (hereafter referred to as CRM) emerges as a business philosophy devoted to enhance customer relationships and consequently create value for both the company and the customer.

Modern Business Strategy Customer Relationship Management in the Area of Civil Engineering

2014 ◽  
Vol 678 ◽  
pp. 644-647 ◽  
Author(s):  
Mijat Jocovic ◽  
Boban Melovic ◽  
Nikolay Vatin ◽  
Vera Murgul
Keyword(s):  
Customer Relationship Management ◽  
Business Strategy ◽  
Civil Engineering ◽  
Relationship Management ◽  
Customer Relationship ◽  
Competitive Advantages ◽  
Business Results ◽  
Doing Business ◽  
Long Run ◽  
Modern Business

Customer Relationship Management (CRM) is a modern business strategy which creates and maintain long term and profitable relations with the buyers. CRM serves for planning and maintaining processes of sales and strengthening competitiveness by registering all interactions of the company with its buyers and suppliers. This system collects and consolidates information from various sources within the company, and where it is possible, they collect information from the company's surroundings in order to offer unique image about each single client, in the real time. Aim of the paper is to show that CRM strategy can be successfully implemented in doing business in the area of civil engineering, so that good business results can be generated on that basis and strengthen competitive ability. Achieving close relations with customers represents main tools for obtaining competitive advantages, thus this paper will show the significance of setting up these relations with customers as well as ways how CRM can contribute to improving better operations on the long run.

scholarly journals Main Points of Digital Agency Business Processes Management: Foodtech Sector Case

2021 ◽  
Vol 126 ◽  
pp. 04004
Author(s):  
Elena Omelyanenko ◽  
Teofilo Tirto ◽  
Dmitry Volodin ◽  
Vitaliy Omelyanenko ◽  
Galina Kovtun
Keyword(s):  
Business Model ◽  
Corporate Culture ◽  
Business Processes ◽  
Digital Transformation ◽  
Point Of View ◽  
Model Management ◽  
Customer Relationship ◽  
Digital Marketing ◽  
Service Development ◽  
Digital Agency

The research deals with the analytics of the features of business processes of a digital agency and the identification of promising aspects of digital marketing as a tool for B2B interaction in the Foodtech market. It is noted that the primary trend of the Foodtech sector deals with digital transformation. From the strategic point of view of creating a business model, it is necessary to understand that digital transformation involves the installation of modern hardware or software and fundamental changes in approaches to management, corporate culture, and communications. To increase the efficiency of the digital agency’s business model, the authors propose to consider digital marketing. The analysis of the effectiveness of the business model of the digital agency allowed us to identify the most problematic and, at the same time, promising components of the business model. Based on generalized approaches to business model management in the case of a digital agency in the design of relevant services, it is proposed to consider maximizing the speed and efficiency of business model transformation and minimizing the uncertainty of further digital service development based on customer relationship management.

Privacy and Security in the Age of Electronic Customer Relationship Management

2009 ◽  
pp. 310-332
Author(s):  
Nicholas C. Romano Jr. ◽  
Jerry Fjermestad
Keyword(s):  
Customer Relationship Management ◽  
Personal Information ◽  
Relationship Management ◽  
Unintended Consequences ◽  
Customer Relationship ◽  
Security And Privacy ◽  
Exchange Relationship ◽  
Privacy And Security ◽  
Goods And Services ◽  
A Value

This article presents a value exchange model of privacy and security for electronic customer relationship management within an electronic commerce environment. Enterprises and customers must carefully manage these new virtual relationships in order to ensure that they both derive value from them and minimize unintended consequences that result from the concomitant exchange of personal information that occurs in e-commerce. Based upon a customer’s requirements of privacy and an enterprise requirement to establish markets and sell goods and services, there is a value exchange relationship. The model is an integration of the customer sphere of privacy, sphere of security, and privacy/security sphere of implementation.

Online Retailing and Customer Engagement

2021 ◽  
pp. 184-195
Author(s):  
Ramanjaneyulu Mogili ◽  
Thamaraiselvan Natarajan
Keyword(s):  
Relationship Management ◽  
Customer Relationship ◽  
Customer Engagement ◽  
Online Retailing ◽  
Online Retail ◽  
Doing Business ◽  
Factors Influencing ◽  
Online Retailers ◽  
Challenging Tasks ◽  
Social Media Platforms

The growth of online retail has changed the course of customer relationship management (CRM) at large. There are a variety of challenges faced by the marketers besides the opportunities of doing business online although the application of advance technologies has helped resolve issues pertaining to CRM to the maximum extent. However, customer engagement (CE), one very important of aspects of CRM, is very critical in online retailing and dynamically complex. Online retailers are using advance technologies and social media platforms to engage customers and optimize the benefits of customer engagement. To gain new customers and retain loyal ones have been challenging tasks, and hence, continuous customer engagement with creative ideas and content is the only solution. The present chapter focuses on the important of customer engagement by online retailers, factors influencing CE, and how marketers need to optimize customer engagement through innovative and analytical methods.

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