CRM 'must target loyal customers'

Businesses not using customer relationship management (CRM) to hold onto loyal customers as well as attracting new ones are doing themselves a disservice, according to a technology expert.

Davina Wertheimer of Bizcommunity explained that valuable clients must always be focused upon first before a firm looks to expand upon any other profitable demographics, and for very good reason.

She explained: "20 per cent of loyal customers account for 80 per cent of the bottom line.

"It makes business sense to concentrate resources and budgets on building customer loyalty amongst this segment."

Ms Wertheimer added that from this, it is likely that other customers who have similar potential will be akin to current regulars, meaning that using CRM to identify this popularity is a good initiative.

Adopting the right approach with CRM is the main priority of Robert Poe, who told Focus.com that constant fine-tuning should be ongoing to ensure the changing demands of the customer are met.

Small Business Management Software from Atlantic Global OnDemand.

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