How to apply CRM techniques in the retention market
If your company is the market leader, whether the market is growing or not, you are in the retention mode. You need to have loyal customers and cross-sell to those customers to increase your volumes and profit as there are little chances for acquiring new customers.
It means you can optimize your marketing operations and expenditures by using advanced analytical CRM techniques.
But it has also a limit. If the market is shrinking, and if you are the market leader, after certain amount of time, the CRM techniques you apply can not generate lumpsum profits or volumes.
Then what you should do is to find a growing market and divest from the home country and invest more in the growing market.
If your investment is small in the new market, then you should focus more on the acquisition of new clients, rather than retention based CRM techniques.
It means you can optimize your marketing operations and expenditures by using advanced analytical CRM techniques.
But it has also a limit. If the market is shrinking, and if you are the market leader, after certain amount of time, the CRM techniques you apply can not generate lumpsum profits or volumes.
Then what you should do is to find a growing market and divest from the home country and invest more in the growing market.
If your investment is small in the new market, then you should focus more on the acquisition of new clients, rather than retention based CRM techniques.
