Tag: CVM

Customer value maximization

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Customer value maximization ( CVM ) is a real-time service model, which is defined above, which is beyond basic customer relationship management (CRM) capabilities, identifying and capturing maximum potential from prospects and existing customers. [1] Proponents claim that a well-devised CVM program helps companies offer the right things to the right people at the right time. The CVM framework uses creative, technology, media and process along with robust measurement systems to help marketers maximize returns from their marketing investments. [ quote needed ]… Read More

Customer value model

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A customer value model (CVM) is a data-driven representation of the value, in which the company is doing business. [1] [2] [ self-published source? ] Customer value models are used primarily in B2B markets where the choice of a given product, service, or offering is primarily based on customer value. Customer value is defined as Value = Benefits – Price. Thus, customer benefits are quantified in a CVM – product features and capabilities are translated into dollars. Customer value models are different from customer lifetime value models, which seek to quantify the value of a customer to its suppliers.… Read More