Customer Management is one important process involved in business management. Here are some steps describing how a customer management process should work:
- Identify possible customer segments and select target segments that give maximum market share. Segmentation can be done based on customer value proposition
o
Relationship to the company; OR on
o
Demographic, Geographic or Lifestyle
factors
- Communicate value proposition to selected customers in a way that the product represents an important solution to the customer. Communication can be done through surveys, mass-marketing and other methods.
- Maximize customer loyalty and commitment by providing premium customer services and value-added partnerships
- Grow business by providing additional features and services after the sale. Involve in partnership with customers and provide them with customized products.
- Customer selection and acquisition provides new revenue sources; customer retention and growth yields increased customer value.
- Modern CRM systems powered with customer databases and related analytics allow better customer selection, improve customer acquisition and enhance customer retention.
