The VALUE of your customer

Galler, Larry
May 2009
Cleanfax Magazine;May2009, Vol. 24 Issue 5, p48
Trade Publication
The article discusses the importance of customer retention. It was found that 50% of customers defect from a company in the first year while 20% of those remaining defect annually. According to the article, retention rate, if increased by at least 5% could increase the number of retained customers by 50% within six years. Retention can be increased through service, training, satisfaction, and attitude. It is also noted that a follow-up marketing strategy could also be helpful.


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