Untapped Gold in Customer and Aftermarket Service

For many companies their customer bases are the great unknown yet deliver the majority of their revenue. One company for example, over 35 years old, relies on their customer base for over 80% of yearly total revenues yet knows little if any about them besides they keep paying for maintenance and service. Competitors are making in-roads because the company who built this customer base is taking them for granted.

Revenue from your customer base is no longer a divine right, you're going to have to fight to hold into your customers and the revenue they deliver, because competitors in every industry are looking for the most reliable of revenue streams to a competitor's customer base.

Called by many names including the aftermarket, customer renewals, or Service Lifecycle Management (SLM), it's very important to get focused on this as a strategy and start making even small steps to accomplish greater customer loyalty with your base of customers. CRM's role in taking care of your existing customers is discussed throughout this site but the bottom line is that you have to get focused on knowing and serving your customer base better than anyone else because these repeat customers can make or break your company. There will be more on the aftermarket or as we'll also call it, Service Lifecycle Management, throughout this site.