At its core, effective CRM promises the following:
• Increased revenue and profitability
• Improved customer satisfaction and loyalty
• Improved service delivery and operational efficiencies
• Decreased acquisition costs – keeping churn low through CRM offsets the need to spend as much on acquisition of new clients, while retention of existing ones is cheaper for obvious reasons
Maintaining good customer relationships is critical to the success of a business. The cost associated with acquiring a new customer is generally far higher than the cost of maintaining an existing customer relationship. While an investment in a CRM communication programme or platform can be large, these costs are often offset over the increased revenue generated by encouraging repeat business.
• Increased revenue and profitability
• Improved customer satisfaction and loyalty
• Improved service delivery and operational efficiencies
• Decreased acquisition costs – keeping churn low through CRM offsets the need to spend as much on acquisition of new clients, while retention of existing ones is cheaper for obvious reasons
Maintaining good customer relationships is critical to the success of a business. The cost associated with acquiring a new customer is generally far higher than the cost of maintaining an existing customer relationship. While an investment in a CRM communication programme or platform can be large, these costs are often offset over the increased revenue generated by encouraging repeat business.
