When customers leave at such an alarming rate, companies lose value on an asset that's expensive to acquire. The good news is this trend isn't inevitable. Companies can increase retention rates by using marketing data to expand meaningful offers to best customers and by delivering relevant communications via customers’ preferred channels. By these same means, companies can raise their chances of holding onto customers even after a product or service mishap, a sign of true loyalty.
What Retailers Can Learn About Customer Retention From the Latest Airline Mega Merger
When customers leave at such an alarming rate, companies lose value on an asset that's expensive to acquire. The good news is this trend isn't inevitable. Companies can increase retention rates by using marketing data to expand meaningful offers to best customers and by delivering relevant communications via customers’ preferred channels. By these same means, companies can raise their chances of holding onto customers even after a product or service mishap, a sign of true loyalty.