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  2. Customer retention - Wikipedia

    en.wikipedia.org/wiki/Customer_retention

    Customer retention is an outcome that is the result of several different antecedents as described below. Customer satisfaction: Research shows that customer satisfaction is a direct driver of customer retention in a wide variety of industries. Despite the claims made by some one-off studies, the bulk of the evidence is unambiguously clear ...

  3. Customer relationship management - Wikipedia

    en.wikipedia.org/wiki/Customer_relationship...

    Research has found a 5% increase in customer retention boosts lifetime customer [clarification needed] profits by 50% on average across multiple industries, as well as a boost of up to 90% within specific industries such as insurance. [37] Companies that have mastered customer relationship strategies have the most successful CRM programs.

  4. Customer attrition - Wikipedia

    en.wikipedia.org/wiki/Customer_attrition

    Customer attrition, also known as customer churn, customer turnover, or customer defection, is the loss of clients or customers.. Companies often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the cost of retaining an existing customer is far less than the cost of acquiring a new one. [1]

  5. Relationship marketing - Wikipedia

    en.wikipedia.org/wiki/Relationship_marketing

    Increased customer retention and loyalty makes employees' jobs easier and more satisfying. In turn, happy employees increase customer satisfaction in a virtuous circle. [20] The relationship ladder of customer loyalty groups types of customers according to their level of loyalty. The ladder's first rung consists of prospects, non-customers who ...

  6. Loyalty marketing - Wikipedia

    en.wikipedia.org/wiki/Loyalty_marketing

    Loyalty marketing is a marketing strategy in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these ...

  7. Incentive program - Wikipedia

    en.wikipedia.org/wiki/Incentive_program

    An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers.

  8. Loyalty business model - Wikipedia

    en.wikipedia.org/wiki/Loyalty_business_model

    The loyalty business model is a business model used in strategic management in which a company's resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed.

  9. Loyalty program - Wikipedia

    en.wikipedia.org/wiki/Loyalty_program

    A loyalty program typically involves the operator of a particular program setting up an account for a customer of a business associated with the scheme, and then issue to the customer a loyalty card (variously called rewards card, points card, advantage card, club card, or some other name) which may be a plastic or paper card, visually similar to a credit card, that identifies the cardholder ...

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