Customer Account Profitability

Get Success through taking right strategic decision about your customer. This is the customer oriented age. No organization can get its objectives without customers' satisfaction. Customers are the king and queen of the market. Customers' attraction, satisfaction and retention have been made highly considerable by all organizations for surviving and growing in this competitive global market. Customers are the source of revenue for all organizations. Organizations need to invest over them to attract, to satisfy and to retain. It means, customers generate revenue and cost for organization. All customers groups are not equally profitable for the organization. So, organizations needs to analyze the cost and revenue of each customer group to know the most profitable customer group, less profitable customer group and unprofitable customer group. Organization needs to convert unprofitable customers into profitable customer; less profitable customers group into more profitable through taking right strategic decisions. Various research studies have revealed that the cost of new customers' attraction is higher than the cost of customers' retention.