Having a more sophisticated approach to Customer Relationship Management (CRM) is fundamental to a businesses' sustainability. In this IT-Director.com article, Paul Elswood, MD, CDC Software UK & Ireland describes his top 10 CRM lessons which have been learned from 2010.
"Customer Retention vs. New Acquisition both are so critical to any business success, however in recent times it has been demonstrated that you need a loyal customer base to survive in tough economic times.
"Retention comes from understanding and properly managing the entire customer experience. Having robust applications to manage feedback and to facilitate all aspects of customer complaints is paramount. New business acquisition is slowly picking up and the costs are extremely high to acquire a new customer. Organisations that have implemented and managed to set up consistent and effective sales methodologies will come out on top you need a CRM tool to help achieve this."