20627 - MARKETING AND CRM IN THE ARTS
Course taught in English
Go to class group/s: 19
In times of decreased demand, the ability to segment, personalize and deliver outstanding customer service is even more critical. The proof is in the numbers. Personalizing guest interactions via Customer Relationship Management (CRM) solutions is shown to improve overall conversion rates by 50% through marketing automation (eMarketer), increase email conversion rates (Campaign Monitor), and improve email click rates by 41% (Experian). These eye-opening numbers alone should provide perspective on the value of a CRM solution. And in times of crisis, such as the current COVID-19 pandemic, a CRM’s ability to help you intelligently engage guests makes it a near necessity. The course aims at addressing the management of the interactions and relationships between firms operating in artistic contexts and customers (visitors/audience). This topic is addressed by paying attention to the particular features of the artistic and cultural marketing: since even these industries are involved in the typical economic evolutions of the business world, the managerial practices of interactions and relations with the market must be taken into account and rethought. The course aims at developing the professional competencies that are needed to manage the moment of interactions and relationships with the customer base.
During the course we address the following contents:
- Customer Relationship Management processes.
- Loyalty management: principles and managing tools.
- The economic evolution towards experiences and its impacts on the markets.
- New approaches to market: investing in interacting and relating with the clients.
- The Dynamic model of customer loyalty.
- The Loyalty programs.
- How to create a Marketing Plan in Customer Institutions.
- The role of Emotions in Marketing the Arts (PAD Model).
- Building a successful Audience Development plan (field project)
- Identify the main differences between the functional and the experiential perspective in marketing.
- Destinguish the phases and their importance in the marketin plan process (market analysis, marketing strategy and performance measurement).
- Understand the importance of relating with customers (audience or visitor) in order to reach a loyal relation.
- Draw the structure of a marketing plan related to the arts industry.
- Measure the benefits of a CRM approach applied in the field of the arts.
- Create a loyalty program.
- Create a marketing strategy based on the experiential differentiation.
- Face-to-face lectures
- Guest speaker's talks (in class or in distance)
- Company visits
- Exercises (exercises, database, software etc.)
- Group assignments
- Interactive class activities (role playing, business game, simulation, online forum, instant polls)
During the course, in addition to face-to-face lectures, the following activities are completed:
- Guest speakers in class by managers and entrepreneurs in the art and cultural sectors on the topics of marketing planning and CRM management. These talks allow students to understand the main trends in the cultural sector and how to understand the needs of intermediate with customers.
- Exercises in the databases available at the Bocconi Library used for analyzing the market and important for completing the field project. These exercises allow students to effectively complete the most important analyses.
- Analysis of several guided incidents on marketing and management of cultural companies/institutions, that allow students to apply the concepts and models that were shared during the face-to-face lectures.
- A group assignment that consists of creating a marketing plan for a cultural institution. This assignment is useful for applying the most important management and analytical knowledge developed during the course.
|Continuous assessment||Partial exams||General exam|
- Written exam(s) with a mix of open ended and multiple-choice questions has the aim to assess the knowledge of theories, cultural motives at the origin of individuals’ patterns of consumption and of the most suitable methods to study them. More specifically multiple-choice questions are intended to assess the knowledge of theoretical concepts while open ended questions are used to assess the students’ capability to understand and interpret a real consumption phenomenon or a case study through the application of most suitable theories and qualitative methods.
- Group assignments, made in cooperation with cultural institutions students choose to work on, are aimed at assessing the capabilities of students to work in teams and to develop new products and services as the outcome of a qualitative market research project.
- Peer evaluation.
Written exam(s) with a mix of open ended and multiple-choice questions has the aim to assess the knowledge of theories, cultural motives at the origin of individuals’ patterns of consumption in the arts and of the most suitable methods to study them. More specifically multiple-choice questions are intended to assess the knowledge of theoretical concepts while open ended questions are used to assess the students’ capability to understand and interpret a real consumption phenomenon or a case study through the application of most suitable theories and qualitative methods.
- ADDIS, RURALE (2020), Managing the Cultural Business Avoiding Mistakes, Finding Success, Reutledge) - selected chapter shown in the syllabus
- Slides and other teaching material uploaded to the Bboard platform.
To prepare th exam students have to study entirely the following texts:
ADDIS, RURALE (2020), Managing the Cultural Business Avoiding Mistakes, Finding Success, Reutledge)
- D. O'REILLY, F. KERRIGAN (edited by), Marketing the Arts, A fresh