customer-retention

Vocabulary Word

Definition

'Customer retention' is a business's efforts to keep its customers around. This involves providing good products or services, excellent customer service, and maintaining a positive relationship.

Examples in Different Contexts

For creative agencies, customer retention can be about continually impressing clients with innovative ideas. A creative director might note, 'Our creative excellence and proactive communication are vital for customer retention.'

Practice Scenarios

Sales

Scenario:

Post-sale support requests have been increasing. We might need to consider offering a dedicated line of customer support.

Response:

A solid customer support strategy can significantly improve customer retention. I'll start researching solutions right away.

Business

Scenario:

The customer research suggests dissatisfaction with our reward structure. We'll need to make changes if we want to hold onto our current clients.

Response:

I agree, we should revise our rewards program to enhance customer retention.