It also lets them optimise these efforts to increase customer acquisition, retention and affinity.
However, CRM originated in the private sector as a technology to support customer acquisition, retention and extension (cross-selling).
As I've said, big technology and media players will still provide VOD alongside their main products and services to increase customer acquisition, retention, and willingness to pay – but not as a big direct revenue or profit source.
Stahl, Florian, Mark Heitmann, Donald R. Lehmann, and Scott A. Neslin (2012) "The Impact of Brand Equity on Customer Acquisition, Retention, and Profit Margin", Journal of Marketing, 76, July, 44-63.
Multichannel customer management is "the design, deployment, and evaluation of channels to enhance customer value through effective customer acquisition, retention, and development" (Neslin, Scott A., D. Grewal, R. Leghorn, V. Shankar, M. L. Teerling, J. S. Thomas, P. C. Verhoef (2006), Challenges and Opportunities in Multichannel Management.
Customer acquisition, retention, and support.
CRM is defined as a corporate-wide approach to maintain the understanding of customer behavior through continuous relevant communication and developing long-term relationships to enhance customer loyalty, acquisition, retention, and profitability.
Michele was previously a Vice President at American Express where she worked for 16 years in both London and NY in a variety of roles including customer acquisition & retention, quality, reengineering, and systems development.
Start-ups typically go through three key stages: customer acquisition, customer retention and success, and sustainable growth.
Plainly, then, it's a good idea to integrate the management of customer acquisition, customer retention, and profitability.
