A Study On Customer Retention

A STUDY ON CUSTOMER RETENTION

INTRODUCTION • The Art of Marketing is the art of brand building. • Marketing is of vital importance to any business. It is the key process of researching, promoting and selling products or services to your target market. ... It's important that you use marketing to promote your business, brand and offerings. Without it, how will you make those sales. • The heart of any business success lies in its marketing techniques. The most perspective of your business depends on successful marketing. Marketing management simplifies the activities and functions which are involved in the distribution of goods and services. • Customer retention refers to the activities and actions companies and organizations take to reduce the number ofcustomer defections

• The goal of customer retention programs is to help companies retain as many customers as possible, often through customer loyalty and brand loyalty initiatives. • Your customer retention strategy is about keeping the customers you've invested in to acquire. ... Cross-selling, upselling and asking for referrals from existing customers. Developing programs to increase customer loyalty and decrease turnover. • Customer retention increases your customers' lifetime value and boosts your revenue. It also helps you build amazing relationships with your customers. You aren't just another website or store. They trust you with their money because you give them value in exchange.

NEED FOR THE STUDY • Retention increases Revenue • Loyal Customers Invest much on New products and services • Loyal Customers Spend More over Their Lifetime as a Customer • Retention Increases Profitability • Lowers Your Customer Acquisition Costs

SCOPE OF THE STUDY • Business Would be able to Know the satisfaction level of Customers on Retaining state and increase New customers. • It helps to identify the factors that helps for improving the Customer Retention in Business • Effective and efficient service quality delivery is a critical driver for customersatisfaction, which in turn leads to higher customer retention. • Satisfying and retaining customers is the new mantra, through which companies are learning to earn the loyalty of their customers.

OBJECTIVES • Primary objectives: • To Study the Impact of customers Retention strategies in Business environment. • Secondary Objectives: • To Increase Brand Reputation • To Improve Revenue and sales

Limitations • Only certain factors are considered in this study to measure the Effect of customer retention. • Data has its limitations. • Much competition and your brand will start out to stand out from the crowd to reach customer retention.

INDUSTRY PROFILE