Question: With CRM , improved customer segmentation occurs, including:Customer prioritisation: Target small groups of customers with customised products and service offerings that are aligned to meet

With CRM, improved customer segmentation occurs, including:Customer prioritisation: Target small groups of customers with customised products and service offerings that are aligned to meet customer needs, rather than simply generic current offerings. You should craft specialised retention strategies for customers with the highest CLV.Customer lifetime value (CLV) analysis: Predicting each customers lifetime value and managing each segment appropriately, for example, offering special deals and discounts.Identify brand influencers and advocates: Consider the realm of social media, where influencers are central to the spread of content. Brands are increasingly prioritising relationship building with social media influencers to build brand advocates who will help market the business for them. By identifying which customers are providing the most value and positively influencing others to become customers, you can focus efforts towards them and increase their loyalty, creating true brand advocates.Advanced customer profiles: Identifying certain behaviours, such as big spenders or those who look for bargains by attending sales. This information can be used to tailor marketing communications accordinglyGroup of answer choicesTrue

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