Why should companies seek to recover potentially lost customers? What do studies show about the cost advantage of such recovery efforts?
What will be an ideal response?
A saved or recovered customer tends to be a better customer. Customer retention efforts return $2 for every dollar invested and recovered customers give companies more of their business after they have been recovered. Companies that do not aggressively work to recover lost customers miss a huge opportunity.
Business
You might also like to view...
When making decisions using _________, group members can support potential solutions without fear of recrimination.
Fill in the blank(s) with the appropriate word(s).
Business
Which of the following can be a useful clue about an organization’s culture?
A. who is hired and fired B. information printed in the media C. the macroenvironment D. environmental scanning E. the industrial environment
Business