Foundations Of Customer Strategy From Business StrategyPresentation Transcript
Maximize Sales and Create Share holder Objective of Business Maximize Bottom Line Minimize Costs value strategy Revenue CostsMake it easier for them to interact Cheaper to retain customers versus acquire new customersProvide them incentives – Loyalty Make existing Allocation of the right amount resourcesprogram Retain customers customers spend more to fulfill target customer segments needsBetter educated/aware customers -promotionsTargeted campaigning based oncustomer needs Acquire new customers Retain customersAcquire profitable customers Push products to existing customers - Retain customers Cross Sell Profit Customer Profitability Analysis Customer Life Time Value Which customers to target ? – high profit potential customers How to efficiently acquire new customers? Customer strategy How to reduce cost to service existing or new customers ? How to get a bigger share of the customer’s wallet?