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ERIC Number: ED493448
Record Type: Non-Journal
Publication Date: 2006
Pages: 9
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: N/A
Alumni Matter: Unleashing a Lifetime of Value. The Benefit of CRM Principals in the Postsecondary Environment
Bedigian, Betsy
Hezel Associates (NJ1)
In a recent survey of continuing and professional education leaders, the University Continuing Education Association (UCEA) reported that marketing budgets are steadily rising with institutions spending an average of $319 million on an integrated marketing mix that targets would-be students. What the numbers do not tell is the potential benefit of employing relationship management principles in marketing to the customer--college alumni and alumnae. Relationship marketing has emerged as the leading revenue-driving tool, especially within the service sector, for savvy marketers. Although education is widely viewed as a service industry, education has been slow to adopt relationship marketing practices. Recent research reveals that more and more graduates will turn to their alma mater, not only for maintenance of old classmate friendships, but also for further education, career guidance, and networking opportunities. For higher education institutions, these alumni needs present ever more opportunities to expand colleges' continuing education departments by cementing their relationship with alumni. By viewing the student as a lifelong customer, colleges are ready to respond to alumni current and anticipated needs. As corporations across the globe move from product-centric toward customer-centric business models, the importance of customer relations-management (CRM) has never been greater. To increase revenue corporate leaders know they must think more like their customers and truly understand the customers' perspectives. This document defines CRM as a systematic approach using information and an ongoing dialogue to build long lasting and mutually beneficial customer relationships. (Contains 1 footnote.)
Hezel Associates, LLC. 1201 East Fayette Street, Suite 44, Syracuse, NY 13210. Tel: 315-422-3512; Fax: 315-422-3513; e-mail: info@nezel.com; Web site: http://www.hezel.com
Publication Type: Opinion Papers; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Hezel Associates., Syracuse, NY.