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Discard GSP Management And Service To Customers

2011/1/10 17:13:00 53

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As we all know, this is an era of "service is king", so everyone has "Eight Immortals crossing the sea" in customer service.

Magical power

However, in practice, enterprises often fall into the trap of "GSP management" for customers, or provide "homogeneous" products or services to the "popular" consumers, or "attack the whole market with a product or service", which often result in expensive customer service costs on the most unprofitable customers, and often fail to serve high valued customers.

Therefore, enterprises must resolutely discard "GSP management and services". They should choose and lock their own specific market segments, and then develop products or service combinations based on the preferences and needs of the market segments. At the same time, we should constantly carry out market reflection tests for products or service combinations until a stable and high profit returns are achieved.

CapitalOne is a model in this respect. This is a credit card companies founded in the mid 80s of last century.

Notice that credit cards have become a serious homogenization product in the United States. In the face of this situation, CapitalOne has opened up a new path to launch its operation and sale around "truly understand its target consumers".

On the one hand, we should make full use of information technology to develop different segments of consumer groups.

Of large number

New products; on the other hand, based on the amount of mass produced.

Customer

Information, intelligent analysis and testing of various new types of credit cards.

In 2002 alone, CapitalOne conducted 65000 new product mix tests.

At present, the company provides 6000 kinds of credit cards, each of which has different periods, conditions and interest rates. This is also the perfect embodiment of CapitalOne at the right time, at the right price, and selling the right products to the right customers.

Because of this, the company has maintained a strong growth momentum since 1995, and the ability to cross sell is enviable. Over 50% of the customers have bought many kinds of CapitalOne financial products, with sales increasing at an average annual rate of 41%, and the annual rate of return on investment has reached 25%.

What is even more striking is that the scale of CapitalOne's development is also growing. From 2001 to 2002, its ranking on the list of Fortune 500 has jumped 67.