Customer Retention and Satisfaction

Customer Retention and Satisfaction

Given high customer acquisition cost, its must to retain and keep existing customers satisfied.

Topics in Customer Retention and Satisfaction : -

Customer Satisfaction and Retention- Overview

Customer Satisfaction and Retention (CSR) are closely but not completely interlinked. CSR needs to be optimized for maximizing shareholder value. Sticking to fundamentals is key to CSR over and above the customer expectation and perception management.

Customer Satisfaction and Retention- Data Management

Single customer view is key to doing any kind of analysis on CSR. Another challenge is the customer feedback and survey data which can be incomplete and also descriptive. Either way it is recommended to having frequent gathering of customer feedback.

Customer Satisfaction and Retention- Business Intelligence

You can do analysis to define the focus areas for Customer Satisfaction and Retention.

Success Drivers for Customer Satisfaction and Retention

The success drivers of Customer Satisfaction and Retention include Service and Support, customer trust relationship, meeting customer expectations, maintaining customer touch points, sales experience and exit barriers.

Exit barriers for Customer Retention

Customer retention can be enabled by ethical exit barriers, which not only helps retain the customer but also add to customer satisfaction. These include understanding customer domain, exit clauses in contracts, your terminal in customer's premises, providing value-added services etc.