Good CRM systems provide data and analytical tools for answering questions such as these: – What is the value of a particular customer to the firm over his or her lifetime? – Who are our most loyal customers?” (It can cost six times more to sell to a new customer than to an existing customer.) – Who are our most profitable customers? – What do these profitable customers want to buy? Firms use the answers to these questions to acquire new customers, provide better service and support to existing customers, customize their offerings more precisely to customer preferences, and provide ongoing value to retain profitable customers.