Customer value maximization (CVM) is a real-time service model that, proponents say, goes beyond basic customer relationship management (CRM) capabilities, identifying and capturing maximum potential from prospective and existing customers.[1]
The CVM framework evaluates current methods and effectiveness, makes changes where required, and sets up a measurement system that helps in evaluating effectiveness. The CVM framework operates as a continuous process in a closed loop.[2]
The CVM framework is closely related to the idea of customer-lifetime-value.
One of the strategies to maximize the value that each customer generates is to split customers into defined segments, a process called client segmentation.
Marketing challenges can be predominantly dissected into four categories: