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Five predictive imperatives for maximizing customer value

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Posted by steve on January 4, 2012 at 8:48 pm

Applying predictive analytics to enhance customer
relationship management

Introduction

Whether you call solving the business problems related to customer
profitability “customer relationship management” or just good business,
you know that strengthening customer relationships is imperative for
business success for one simple reason: customers drive profits.

In today’s increasingly global and competitive marketplace, customers
have more options available to them than ever before. Many analysts
and journalists, in fact, are calling this a “customer economy.” Attracting
customers cost effectively and meeting their expectations for selection,
price, quality, and service are essential to a customer value strategy. It is
equally important, however, to identify and retain profitable customers,
and increase their value over time. This requires the ability to anticipate
customer needs and present attractive offers in the right way, at the
right time. The companies who can do this will be the companies that
thrive in the customer economy.

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