WHAT is CR? “deeply held commitment to using a preferred product or service consistently in the future, despite situational influences and marketing efforts having the potential to cause switching behavior” In other words Customer Retention means “to maintain existing customers” This happens if there exists a positive relationship between the company and the customer.
Remember it's more expensive to acquire a new customer than to retain an old one.
Still want to know Why Retain??? Because Customer Retention brings even more SUCCESS!
Retention Tactics Poor customer service accounts for 70% of customer loss Who better to ask for feedback than customer himself? Listen (and then talk)
You can learn a lot by eavesdropping on customers on blogs, Twitter and Facebook
Bring Your customers together
Tips for Succeeding at CR Find out what customers want & whatcauses them to stay or leave? Proactively collect and promote customer feedback. Analyze customer feedback to gain valuable insights and ensure the right people hear it. Take action and Measure the Results Actively measure and monitor your customers’ loyalty and engagement Keep Asking, Listening, Analyzing and Improving
How to Retain Customers? The best way to find out is to DISCUSS sample cases amongst yourselves?