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"This is our core strategy," he emphasizes. "It's our goal to make each relationship profitable."
How is RBC's strategy faring? In 1996, the company was growing revenues at a 10% annual clip, with profits increasing by 10% to 15% annually. "That was respectable for a large, mature organization," says McLaughlin, "but not attention grabbing." Today however, performance is nothing short of stellar. "Even in today's economy, we're running revenue growth from 10% to 15%, and profit growth in the 25% range," explains McLaughlin. "We absolutely conclude that our CRM strategy is paying us back in spades...
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