CRM doesn’t mean all customers are created equal!
In recent years many jobs in the United States have been outsourced and off-shored with the thought that reducing costs results in higher profits. You’d think that would make sense. But it doesn’t. Not all customers are created equal and the highest profits come from a handful of customers. In the “old days” this was known as the 80/20 rule. 80% of sales come from 20% of customers is the old chestnut — and it had more than a kernel of truth in it. Businesses today can’t take a “one size fits all” approach to their customers had hope to be profitable. Funneling everyone through a touchtone interface (press “1″ for sales, “2″ for service) and a contact center agent who doesn’t speak English very well is illogical and will result in a loss of sales. With all the data at hand today we have the ability like never before to analyze who are profitable customers are and to target them. CRM and “1 to 1 Marketing” are often mistaken as Communism — treating all people alike. The opposite is true — you should spend more money on your profitable customers — and less on those who don’t add to the bottom line. The secret is in using the data that you have and turning it into powerful, actionable revenue producing information.