In a typical company today, customers are defecting at the rate of 10 to 30% per year. If a business can retain just 5% more of its customers, it can boost profits by 100%. But it‘s not easy. Companies with high customer retention rates focus on delivering the right product or service, to the right customer, at the right price, at the right time, through the right distribution channel. Doing so, as author Swift explains, is the role of Customer Relationship Management (CRM), a data-based business approach that systematically turns casual customers into loyal, and highly profitable, ones. This information-packed summary will enable you to start a data warehouse for your firm, innovate new services every customer wants, drive powerful marketing efficiencies, and generate stunning returns on your investment through the power of CRM.
