Question

American Express is known for high value of new card signups. With such a generous sign on bonus, what can American Express do to increase profitability on this product while ensuring they don't increase customer churn/turnover?

Answer 1

Date Expt. No. Page No._1 METHOD'S TO INCREASE PROFIT Increasung customer retention by yusit 05% can lead to a 28 to 95% increase in profit Reason for such a increase u incluele! Retaining expensive ones. customes is less than acquiring new Happy customes to tell their your buisness. are more likely friends about. Repeat customer spend more money but require less neep. Teacher's Signature: -----

Expt. No. Page No. 2 Page No. STRATEGIES | 1)| PROVIDE EXCEPTIONAL CUSTOMER SERVICE ГЛle cour use thя,ol pculty oфр to Nouvele exceptional tike service lire BUFFER us an app designeat to make it easier to schedule content to share on social medico sutes Buther documents the progreso Tutsot satisfied customees ein something called a Happiness Relod: This report pouvells a détailld sulatustees of how buffer has helped its customers Tuomething this report

Date Page No. 3 Expt. No. &TUSE E-MAIL MARKETING One of the main reasons email I procluces such areat ROI is its ability to Tefficiently keep I customer coming back to your I buisness. Email can keep your Il company at the top of thels mindle CREATE A SYSTEM OF COMPLAINTS T Coreating a system for complaints Tus a good idea for two T reasons. Fuest if dere's a pooblem with the way you're serving your customer you need to Trdon about it In oreles to lix second if your customer I are astill willing to talk to you even if it's to complain Teacher's Signature :-- CONTINUE

Expt. No. Page No. 4 you to can still do make them something heupp - aglun. 41 DEVELOP AN OUTSANDING PRODUCT_ IOR SERVICE The single greatest way to increase profit os gain customer by providing best opossuble product or service. Bettle the service os product better the flow of customer. on sumbel Owosco a uality is the main factes to attract customer whether it is product qualite os service quality. Thank's