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A Study On Customer Retention

The document discusses a study on customer retention. It introduces the importance of marketing and retaining customers for business success. The goal of customer retention programs is to reduce customer defections through loyalty initiatives. Retention increases revenue, profits and lifetime customer value while lowering acquisition costs. The scope of the study is to understand customer satisfaction levels and retention factors. The objectives are to study the impact of retention strategies on business and increase brand reputation and revenue. Some limitations include only considering certain retention factors and competition.

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254 views8 pages

A Study On Customer Retention

The document discusses a study on customer retention. It introduces the importance of marketing and retaining customers for business success. The goal of customer retention programs is to reduce customer defections through loyalty initiatives. Retention increases revenue, profits and lifetime customer value while lowering acquisition costs. The scope of the study is to understand customer satisfaction levels and retention factors. The objectives are to study the impact of retention strategies on business and increase brand reputation and revenue. Some limitations include only considering certain retention factors and competition.

Uploaded by

MANI
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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A STUDY ON CUSTOMER

RETENTION
INTRODUCTION
• The Art of Marketing is the art of brand building.
• Marketing is of vital importance to any business. It is the key process of
researching, promoting and selling products or services to your target
market. ... It's important that you use marketing to promote your business,
brand and offerings. Without it, how will you make those sales.
• The heart of any business success lies in its marketing techniques. The most
perspective of your business depends on successful marketing. Marketing
management simplifies the activities and functions which are involved in
the distribution of goods and services.
• Customer retention refers to the activities and actions companies and
organizations take to reduce the number ofcustomer defections
• The goal of customer retention programs is to help companies retain
as many customers as possible, often through customer loyalty and
brand loyalty initiatives.
• Your customer retention strategy is about keeping
the customers you've invested in to acquire. ... Cross-selling, up-
selling and asking for referrals from existing customers. Developing
programs to increase customer loyalty and decrease turnover.
• Customer retention increases your customers' lifetime value and
boosts your revenue. It also helps you build amazing relationships
with your customers. You aren't just another website or store. They
trust you with their money because you give them value in exchange.
NEED FOR THE STUDY
• Retention increases Revenue
• Loyal Customers Invest much on New products and services
• Loyal Customers Spend More over Their Lifetime as a Customer
• Retention Increases Profitability
• Lowers Your Customer Acquisition Costs
SCOPE OF THE STUDY
• Business Would be able to Know the satisfaction level of Customers on
Retaining state and increase New customers.
• It helps to identify the factors that helps for improving the Customer
Retention in Business
• Effective and efficient service quality delivery is a critical driver
for customersatisfaction, which in turn leads to higher customer retention.
• Satisfying and retaining customers is the new mantra, through which
companies are learning to earn the loyalty of their customers.
OBJECTIVES
• Primary objectives:
• To Study the Impact of customers Retention strategies in Business
environment.
• Secondary Objectives:
• To Increase Brand Reputation
• To Improve Revenue and sales
Limitations
• Only certain factors are considered in this study to measure the Effect
of customer retention.
• Data has its limitations.
• Much competition and your brand will start out to stand out from the
crowd to reach customer retention.
INDUSTRY PROFILE

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