Customer retention strategies: How to keep churn in check
Posted by jack_springman in Customer experience on Mon, 22/03/2010 - 09:13
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- Failing to put existing customers first is probably the biggest marketing sin most businesses can commit.
- The ideal way to acquire new customers is referrals from existing ones.
- In a fast growing and immature market, it is logical for businesses to prioritise acquisition.
- But for most businesses this should be inverted with customer retention and customer profitability the key priorities.
Customer acquisition may be rising up the list of business priorities according to experts, but any business that doesn't have retention and profitability under control is heading for trouble. Jack Springman takes a strategic look at customer retention.
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