Retention rate is hot topic amongst our customers and readers. Losing customers, especially in big numbers, is extremely unsettling and expensive. It becomes a destructive cycle; customers leave, more effort is expended getting new ones, so the company’s eyes are taken off the existing customers. Service quality declines as a result, and so even more customers leave.
We spend a lot of our time researching and discussing the very best ways to solicit feedback from customers to ensure that our client’s retention rates stay as high as possible. After all, if you don’t ask your customers how they are feeling, you’ll only ever hear from a tiny fraction of them. A fact that’s probably giving you a very false view of how you’re doing. In this section, you’ll find research, statistics, suggestions and tools to help you ensure your retention rate stays as high as possible.