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CRM In the Air
In the 1980s, the airline industry introduced consumer loyalty programs to the business world. Frequent-flyer programs, as they came to be known, were at the top of the class of a new marketing approach called customer relationship management. Since then, however, many airlines have failed to keep pace with innovation in CRM and have fallen behind other industries in applying it.
The take-away: Given the troubled condition of many airlines, they should make better use of CRM. Implementing it effectively—learning more about the most valuable customers and how to do more business with them—could boost revenues by 2.4 percent, netting a large airline an extra $100 million to $250 million a year.
Articles provided by The McKinsey Quarterly
© 1992-2003 McKinsey & Company, Inc
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