What is your Return on Customer Investment?
CEOs and CFOs like numbers; mostly profitability numbers. If you can't speak their language and convert your project or proposal into numbers that talk to them; your chance of having it approved are slim to none.
Return on Customer Investment is a business approach that looks at all of your customer focused investments and puts hard return on investment facts behind them.
Facts that you can take to your CEO or CFO to justify the investment to drive business profitability.
ROCI can be used to justify many types of customer focused investments including for example:
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Customer Satisfaction - how oh how do you justify investing in increased customer satisfaction. Its so soft and hard to relate to profit. We have several approaches that can be used to develop hard business cases for investment in customer satisfaction.
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Customer retention - Justifying an acquisition campaign is conceptually easy but how do you justify investing in existing customers? Genroe have developed several return on retention models that look at the opportunity cost rather than the acquisition revenue of retention campaigns. Download a free simplified customer lifetime value and return on customer retention calculator and see what your upside looks like.
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Educational campaigns - Here is another type of campaign that you know makes sense but just doesn't stack up by itself. Genroe can help you to frame the campaigns in the correct ways that will justify, in hard economic terms, the investment.