Companies that successfully practice customer relationship management measure success by ________.

Question

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Companies that practice customer relationship management measure success by share of customer and lifetime value of the customer. This means that they focus on retaining customers and increasing their value to the company over time, rather than just acquiring new customers. Share of customer refers to the proportion of a customer's total spending that a company captures, while lifetime value of the customer refers to the total amount of revenue a customer is expected to generate over their entire relationship with the company. These metrics are important because they allow companies to understand the long-term profitability of their customer relationships and make strategic decisions about how to allocate resources to retain and grow those relationships.

Companies That Successfully Practice Customer Relationship Management Measure Success by ________