Using Customer Relationship Management to Increase Profits

摘要

In today's challenging economic environment, both customers and company profitability are more elusive than ever. Many companies are having difficulty stabilizing their business model and have been forced to downsize, more than once. Companies such as Wells Fargo, Harrah's Entertainment, IBM, Boise Cascade, and Lowe's Home Improvement, however, have stabilized or grown their companies by putting a priority on investing in customer relationship management (CRM). CRM helps companies unlock the full value of their relationship assets, accelerating revenue and profit growth. Industry experts indicate that nearly 90% of all companies have yet to adopt the new tools and methods of CRM and continue to fall behind by adhering to the old method for managing their relationship assets. Let's look at the benefits realized by adopting the tools and methods of this new paradigm, the key value drivers of customer relationship assets, how a company can independently determine whether or not they need to adopt this new paradigm, and how financial executives can act as catalysts for change.