Customer Value Management
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Maximising the Value of your Customers
SECOR’s CVM methodology, depicted in the diagram below, was developed to improve the way in which its clients manage their customers.
Unlike customer relationship management (CRM), which focuses on the relationship between a business and its customers, CVM focuses on the
value provided by each party to the other to ensure the key objectives of retention, growth and profitability are achieved.
Its internal view looks at the operation, its processes and systems and benchmarking these externally. This goes further than typical
business improvement initiatives by including values, culture and customer dialogue in order to understand both hard and soft enablers
for Customer Experience Delivery.
Its external view takes the customer perspective and begins with detailed Customer Analytics in order to understand the customers, their
characteristics and behaviours. From this, specific customer segments are identified and their satisfaction with the existing Customer Experience
measured, their optimal experience determined, and behavioural changes likely to result from these improvements gauged.
These two views are brought together by the decision engine of the methodology, which takes proposed changes (from either the internal or
external view) and determines the impact on the value delivered to the customer and the value represented by the customer, seeking the optimal
point of mutual value.
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