It is a term used for a specific structured techniques for analyzing and the utilization of attracting and maintaining profitable customer relationships. It is also another method in a marketers toolbox to improve customer relationships as they develop and launch specific information campaigns that convey product and service quality. When done correctly, sales goals are met and often exceeded.
The benefits of using these techniques are:
- Allocating marketing and sales resources based on a realistic assessment of the potential of each customer results in higher profits and ROI.
- The Customer Value Pyramid gives a more accurate visual of the numbers of active customers and may also indicate how messages and offers should be distributed in future marketing campaigns.
- Provides sales staff a clearer understanding of their customer’s needs which will help to identify future sales offers that would be appropriate and lead to increased customer satisfaction.
