Whitepaper: Customer Retention Is a Multi-Dimensional Issue

by QuaeroJan 01, 2008

Customer management is not rocket science. It is pretty basic business common sense. There are three primary elements to it. Acquire, grow and retain customers. This paper focuses on third element, area of customer retention. Increasing rate at which company retains customers can be great value driver, i.e. it increases profits disproportionate to the amount spent. If that is the case, why then is it the most neglected of the three basic areas of customer management? The answer has to do with three issues. Measurement, ownership and visibility are inter-related. But company could benefit from increased focus on customer retention.