How can company attract and retain right customers

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CRM is the process of carefully managing detailed information about individual

customers and all possible “touch points” to maximise loyalty

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Identify prospects & customers

Differentiate customers by (1) their needs (2) their value to your company

Know their individual needs personally and build stronger relation

Customize process, services and messages to each customer

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Define and measure

retention rate

Distinguish customer attrition &

manage better

Compare lost customer’s

lifetime value to deflection

costs

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Target Market Aware Open to

trial

Trier (non rejec-tor)

Recent User

Regular User

Most often Used

Loyal

Marketi ng Funnel

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Reducing rate of customer deflection

Increasing longevity of

customer relation

Enhancing growth potential of each

customer

Making low-profit customers more

profitable

Provide valueable effort on high-

profit customer

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Interacting with customers

Developing Loyalty Programs

Creating institutional ties

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Re-Activate the In-Active

• Created by Karan Bhatt, NIT Surat, during an internship by Prof. Sameer Mathur, IIM Lucknow.

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