Improve customer retention: Issue
'Churn', arguably the most disagreeable word in the business vocabulary, is the visible tip of a very dangerous iceberg. It's as easy to measure as it is hard to ignore.
What lies below the surface is more troublesome. Customer dissatisfaction finds diverse modes of expression: 'bad' referrals; 'word of mouth' which is negative, rather than positive; and shrinking share of wallet amongst them.
Improving your customer retention then, is about much more than cutting your churn: its benefits will ripple through all of your customer interactions, turning a vicious circle into a virtuous one.
But it demands attention, not lip-service; and a dogged determination to persist.
The key is to wring maximum payoff from minimum investment - something you'll never achieve without the right research underpinning your efforts.