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Complicating the lack of focus on customer acquisition was the notion that CRM technology was the savior of the business world. Many executives took to the Field of Dreams notion of "Build it and they will come." For those who thought CRM was the be-all and end-all, they too wound up shoeless - and job-less. The reality was that technology was just a small part of the CRM equation. Those companies now winning the sales race have learned that CRM starts with acquiring a customer. This process is known as Customer Acquisition. Companies that escaped the tumultuous dot-com shakeout have realized that a return to basics is not only good strategy - it's the key to survival.
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