This is the last of a series of four blogs devoted to the topic of customer retention. Read Part 1, Part 2 and Part 3.
The key to competing for retention is to quantify and understand the connections between loyalty and profits.
How to use measurements as tools to ensure integrity, accountability and decision-making relative to the development and implementation of your customer retention program is one of the most important considerations to retain customers.
Keep your tracking systems relevant and flexible so they function as assets to building and refining your retention strategy.
Finally, close the customer partnership loop with effective communication activities.
Critical measurements and Calculations
- Know your customers.
- Determine the true cost of each type of customer, from loyal to transient.
- Compile a customer baseline and data base.
- Employees are customers: Measure their service performance. Continue reading ‘Retaining Customers Part IV: Parting Comments’
