Customer retention

For energy suppliers, TES lowers generating equipment costs (by 30-50% for air-conditioning loads), reduces financing requirements (by USS1-2 billion), and improves customer retention. 

Narayandas, D. 1998. Measuring and managing the benefits of customer retention. J ournal of Service Research, 1(2) 108-128. 

It is also important to consider communication along the supply chains as a chance for more customer-orientated iimovation. In particular, chemical traders and the formulators of preparations could expand their areas of business by adding information and consultative services (with improved customer retention). 

How do you determine and/or project key product/service features and their relative importance/value to customers for purposes of current and future marketing, product planning, and other business developments, as appropriate How do you use relevant information from current and former customers, including marketing/sales information, customer retention, won/lost analysis, and complaints, in this determination ... 

Sector-Specific KPIs which apply E5 Waste E6 Environmental Compatibility 58 % of Funds Managed in Accordance to ESG Criteria 59 Financial Instruments held in Accordance to ESG Criteria V5 Investments in Research on New Risk V6 Customer Retention... 

To increase customer retention 5% increasing benefits from 25% up to 80%. 

The result is lower warranty costs, better products and higher levels of customer retention. 

Business benefit the gains in revenue from increased sales, customer acquisition, or increased customer retention. 

Netessine, S., N. Rudi and Y. Wang. 2002. Dynamic inventory competition and customer retention. Working Paper, University of Pennsylvania, available at http //www.netessine.com. 

The importance of customer retention is underlined by the concept of the lifetime value of a customer. The lifetime value of a customer is calculated as follows ... 

A simple measure of customer retention is to ask the question How many of the customers that we had 12 months ago do we still have today This measure is the real test of customer retention. It can be extended to include the value of purchases made by the retained customer base to assess how successful the company has been in increasing the level of purchasing from these accounts (see Figure 2.5). 

A prime objective of any customer service strategy shouid be to enhance customer retention. Whiist customer service obviousiy aiso piays a roie in winning new customers it is perhaps the most potent weapon in the marketing armoury for the keeping of customers. 

The critical linkage here is the impact that logistics service can have on sales volume and customer retention. Whilst it is not generally possible to calculate the exact correlation between service and sales there have been many studies that have indicated a positive causality. 

From transactions to relationships Focus on service and responsiveness as the basis for customer retention Ability to define, measure and manage service requirements by market segment... 

Increased competition - Customers choose other service providers - Shift from customer acquisition to customer retention - Price erosion - Reduced market share - Reduced revenue... 

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