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Customer Profitability Management |
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Customer Profitability Management (CPM) focuses upon an organisation's most profitable customers/products; and by nurturing these, aims to maximise long-term returns. Customer profitability management impacts upon customer relationship management, product promotion, pricing, and billing and incorporates a high degree of customer behaviour modelling and analysis in a desire to make more informed customer service decisions.
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The Stage
Customer profitability management (CPM) is a key business strategy for ensuring the long-term financial well being of an organisation. In order to succeed in today's marketplace, organisation's need to ensure that they invest in profitable ventures, improve revenue prospects, and fine-tune their customer management processes. By identifying the organisation's profitable and non-profitable customers, decisions can be made regarding how to manage these appropriately, and to consider what new groups might be targeted. It is essential when making such far-reaching decisions that reliable data should be found and sound analysis carried out.
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