Customer retention programs are based on what concept?

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18-10-2022
Business

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Customer retention programs are based on what concept?

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shomerajeshwari90 shomerajeshwari90 · Answer 1 · 2022-10-26T12:57:59+02:00

Customer retention program must be based on concept that- Customer relationships should be viewed from a life value perspective rather than a transaction-by-transaction basis.

Customer loyalty, or an organization's capacity to retain customers over time, is measured by a metric called customer retention. Consumer retention can represent or forecast service quality, repurchase intention, customer engagement, and emotional links to a brand in addition to determining the number of devoted customers.

Customer retention numbers are related to the first transaction made by a client and include all future interactions, whereas relationships with customers often start with an initial conversation. Organizations can use this feedback after customer retention has been evaluated to do analysis of the data on aspects of client success and customer satisfaction.

Learn more about customer retention here:

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