Title :
Keep those customers [retaining and expanding existing customer base]
Abstract :
This article examines ways of retaining and expanding an existing customer base. It begins by outlining the reasons why existing customers are more profitable than winning new customers. It then proposes practices that should be built into a customer retention policy. These include communication, delivery completion, and how to react when things go wrong.
Keywords :
customer relationship management; customer satisfaction; problem solving; customer base expansion; customer communication; customer retention policy; customer satisfaction; delivery completion; existing customer base retention; existing customer profitability; problem solving;
Journal_Title :
Engineering Management Journal
DOI :
10.1049/em:20040604