Question added by Shoukat Ali Malik
, Specialties Moderator for Bayt.com community program, , Bayt.com (Middle East # 01 Job website)
Date Posted: 2013/10/17
by
Sajid Hameed - ACA , Chief Financial Officer / Acting Chief Operations Officer , EPC (Tamimi Group Company)
Customer value management is managing each customer relationship with the goal of achieving
maximum lifetime profit from the entire customer base. Customer value management enables
companies to take full advantage of the economics of loyalty by increasing retention, reducing
risk, and amortizing acquisition costs over a longer and more profitable period of engagement.
The customer value management cycle can be broken down into three stages:
•
Right customers (acquisition)
•
Right relationship (development)
•
Right retention (keeping valuable customers)
