Customer retention: the key to a successful business JUNE 13, 2019 | RENY PUNNOOSE | CUSTOMER LOYALTY Customers demand what they want to demand. When companies fail to deliver experience by experience or live up to their brand promise, customers will take...
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Customer retention: the key to a successful business JUNE 13, 2019 | RENY PUNNOOSE | CUSTOMER LOYALTY Customers demand what they want to demand. When companies fail to deliver experience by experience or live up to their brand promise, customers will take flight. What is customer retention? The art of recognizing your most loyal customers, identifying their user behavior with relevant data analytics and focusing activities with customers at fulcrum point. According to a Forrester report, customers are increasingly driving up revenue risk, as they look for alternative brands if their expectations are not met. The report also estimates that firms will experience a 25-50% increase in revenue risk due to bad customer experiences, so efforts to retain customers must be given the utmost importance. An easy to use and data driven loyalty platform, can help a business get started on customer retention.
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