Meaning ● Customer Relationship Equity (CRE), in the context of SMB growth, automation, and implementation, represents the total combined lifetime value of a firm’s customer base.
CRE is a critical business asset reflecting the long-term value derived from strong customer relationships.
● For SMBs, understanding and optimizing CRE informs strategic decisions across sales, marketing, and service automation initiatives, with a keen eye on predictable, and sustainable revenues. A positive and constantly growing CRE helps increase competitive advantages.
● Efficiently managing CRE involves strategically applying automation tools to personalize customer interactions and streamlining support processes to improve customer experience, boosting loyalty, and, consequently, CRE. This means choosing appropriate CRM systems, and other engagement solutions with a goal of long-term value extraction.
● Successful implementation focuses on measurement, assessment, and improvement of the processes and marketing efforts of customer relationships, using key performance indicators (KPIs) such as customer retention rate, customer lifetime value (CLTV), and Net Promoter Score (NPS), turning data into insights and actions within the company.
