News From My Homeland China(Assignment 5)

Last class, the professor mentioned Customer Relationship Management (CRM). I searched some articles about this topic. “China Telecom (Jiangsu) Selects PacificNet Epro for CRM Telemarketing Services” was one of them. Since China is my homeland, I was very interested in this article. China continues to be the world's fastest growing economy at 11% annual growth with the largest consumer population, the largest population of mobile phone users with over 400 million, and the second largest Internet- enabled population with over 120 million online, so I think China Telecom really needs a mature CRM system to improve their service and marketing.
Through a CRM system and the availability of customer data, marketers can finally see clearly who their customers are, what they are purchasing when they are purchasing it, and where it is being purchased. Marketers can apply statistical analysis to predict future purchase behavior. CRM systems also calculate the lifetime value of customers, which can allow marketers to categorize customers and pursue the high-value segment.
Through CRM systems, marketers can better understand and shape the customer experience in all phases of the relationship, from leads to prospects to customers to (worst case) former customers. Marketing and CRM work so well together because they basically have the same mission: to identify, acquire, foster and retain loyal, profitable customers.
Through CRM, the company will know more about what the customer might be interested in and will send specific offers only to those with the highest possible interest and readiness to buy.

Reference
Article: China Telecom (Jiangsu) Selects PacificNet Epro for CRM Telemarketing Services
Link: http://www.tmcnet.com/usubmit/-china-telecom-jiangsu-selects-pacificnet-epro-crm-telemarketing-/2007/10/08/2997645.htm