Managed Customer Loyalty: The Key to CRM Success
- Topics:
- Sales Training
- Tags:
- Advertising & Promotion,
- Consumer Satisfaction,
- CRM,
- Customer,
- Customer Relationship Management (CRM),
- Enterprise Software,
- Marketing,
- Software,
- Strategy
- Source:
- Contact Professional Magazine
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Overview: "Losing customers costs companies millions each year. For every customer lost, companies must spend six times more revenue on acquiring a replacement than it would cost to incorporate customer loyalty strategies into their marketing efforts. Today’s CRM models have centralized data points and integrate various contact channels within operations, but they won’t keep customers happy. Only by pleasing customers and creating long-term relationships can companies realize the true value of their CRM investment. To visualize the totality of the customer relationship, one must consider each stage of the customer lifecycle as part of a loyalty continuum. Some of these include: lead generation, acquisition, new customer welcome, customer service etc. It is obvious that in order to succeed companies must incorporate loyalty programs into their CRM strategy. Long-term consumer satisfaction requires a customer-focused flow between people and CRM data technology."
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Format: HTML | Date: Jan 2003 | Pages: 1
