Don’t Get Buried in Customer Data…Use It!

Don’t blame your CRM technology. Be smarter about collecting and using your data.

 With the advent of customer relationship management (CRM) in the late 1990s, companies came to believe that by using technology to tailor their offerings to individual consumers’ needs, customer loyalty – and company profits – would skyrocket.

But in today’s crowded marketplace, customer loyalty is more elusive than ever. A recent study reveals that the annual churn in the wireless industry increased from 17 percent in 1995 to 32 percent in 2000. This trend holds true even in industries less susceptible to turnover. In core retail categories … Continue Reading…