In today' s business world. The 1980s centered on downsizing and cutting costs. Managers in the 1990s focused more on building up core competencies. And for good reason.
Customers are the very raison d'etre for business.
And, of course, a sale cannot be made without a customer. Capitalize on the obvious fact that selling to existing customers is much easier than selling to new ones. Airlines, supermarkets, video rental stores and even auto repair shops are just a few of the many businesses that now recognize the extraordinary value of repeat business. In realizing this, they have launched CRM strategies in the form of loyalty programs that reward existing customers for purchasing additional or incremental products and services. But what many of these businesses don't realize is that accurate data is the very cornerstone of an effective CRM strategy.