Seven ways to hold fast to your customers
Mike Pegler
(Mike Pegler (mpegler@prtm.com) is a principal based in the Mountain View, California, office of management consulting firm PRTM. PRTM (www.prtm.com) helps companies develop and execute their strategies through improvements in best practices, IT‐enablement, and core business processes.)
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Abstract
It’s a fact – customer retention boosts the bottom line. Here’s how to keep them happy, even in tough economic times. Want to nearly double your company’s profitability without having to cut costs, increase prices, or find new customers? Impossible? Not according to some studies, which show that even a small improvement in customer retention can increase profitability by as much as 95 percent. Sharply higher profits, simply by holding onto your existing customers.
Keywords
Citation
Pegler, M. (2004), "Seven ways to hold fast to your customers", Handbook of Business Strategy, Vol. 5 No. 1, pp. 223-226. https://doi.org/10.1108/10775730410494161
Publisher
:Emerald Group Publishing Limited
Copyright © 2004, Emerald Group Publishing Limited