In today's world, customers vote with their wallets based on their customer experience. Today a typical business will lose ½ of its customers within 5 years. Marketing pros call this "customer churn". Getting new customers costs 7 to 10 times more than retaining and selling to an existing customer. It makes sense to look at how to slow down or reverse customer churn to improve business profits.

Customers are not all the same, some are not profitable, some moderately profitable, and some are very profitable. Do you know why some of your customers are not profitable and what can be done to turn them into profitable customers? Should you disengage with unprofitable customers? Do you know what can be done to turn the moderately profitable customers into a very profitable customer? What are the attributes of a very profitable customer? What is the life time value of that customer to your business? Do you have a strategy to keep your very profitable customers from going elsewhere? Is that strategy working? Having deep customer knowledge can help answer these questions.

Internally, do sales, marketing, customer service, and management staff have access to the same customer data? Is your marketing segmented to targeted marketing campaigns? Is your sales staff informed of customer service calls from key customers? Do support service personnel know which salesperson is working with a specific customer? These issues create friction points that inhibit good customer experiences and create turnover.

Customer Relationship Management (CRM) is a customer-centric business philosophy that aims to acquire deep customer knowledge. Customer knowledge enables your business to modify its processes to improve each customer's experience. This in turn will reduce "customer churn" resulting in an increase in customer wallet share.

Our CRM application provides the ability to acquire and manage deep customer knowledge, store that data in a single database, and make the data available to sales, marketing, service, and management personnel wherever they may be 24/7. To learn more about Planetary CRM click here.