The business benefits of customer management

Neil Woodcock and Merlin Stone

Professor Merlin Stone and Neil Woodcock, of WCL (a change management and CRM consultancy), discuss a new model of customer management (CMAT) and good practice in customer acquisition, penetration and retention.

The Business Benefits of Customer Management

Professor Merlin Stone and Neil Woodcock

Business people sense that managing customers well leads to improved business performance, but when it comes to investing they find it hard to determine what to allocate to acquiring, retaining or developing customers. This article describes the findings from research into customer management (CM) and business performance. It shows strong evidence that if a company approaches CM sensibly, it will make considerable profit improvement. This article also gives examples of how business performance can be improved and suggests some guidelines on how to make it happen....

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