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"Why should we switch to a customer-centric marketing approach? because it will increase profits!”
Customer-focused (as opposed to promotional and product-focused) communications will increase customer loyalty and, as a result, customers will buy more from you over a longer period of time.
Your marketing investment will be better aligned with customer profit potential so your marketing will become more cost-efficient (you won't be wasting marketing dollars on low-potential customers)
Research conducted by Bain and Harvard Business School shows that the longer a customer is with you, the greater the annual profit generated from that customer. These increased profits come from a combination of increased purchases, cost savings, referrals and a price premium.
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