A relationship management technique used by businesses in order to maintain a closer connection with high-value customers. For example, a bank might have customers who provide a large stream of revenue, and another set of customers who do not provide the bank with a large stream of revenue. A book of business contains customer data, and allows a business to break the customers into appropriate groups so that it can set appropriate sales targets. The bank would like to retain both customers, as well as to get low-revenue customers to provide more revenue, but might be inclined to focus more on its more valuable customers.
Use book of business in a sentence