What's the difference between a short-term policy and a long-term strategy? All too often, it's the difference between some limited revenues and sustainable profitability. Folklore has a very apt phrase for it: “Penny-wise, pound foolish.” In more corporate terminology, “The exclusive focus on immediate gains may put long range profits at risk.” In an era where companies constantly talk of the need for 360-degree views of the customer, Customer Relationship Management and of the importance of customer retention, why is it so easy to find myriads of examples wherein valuable customer relationships are mismanaged and lost?
Many companies these days want to be perceived as being "Customer Centric." The rewards of customer loyalty supposedly to be gained through attaining such status certainly seem impressive. It's understandable that senior management teams and contact center executives would want to jump on the bandwagon and talk of customer centricity initiatives of their own. Unfortunately, the moves being made and the path being followed are mostly transaction centric rather than truly being about a mutually profitable and therefore continuing relationship between company and customer.