Question

- Define customer retention

- Explain why customer retention is important to your business and explain five customer retention strategies that may benefit your business.

- Research customer retention strategies and Make recommendations on how to implement these methods.

- Expand on some customer retention strategies to attract new and retain existing customers

- Identify the factors that you would take into consideration to determine the prices of your products and services

Answer 1

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Answer1:

The client retention definition in selling is that the method of participating existing customers to continue shopping for merchandise or services from your business. It’s completely different from client acquisition or lead generation as a result of you’ve already born-again the client a minimum of once. the simplest client retention ways alter you to make lasting relationships with shoppers United Nations agency can become loyal to your complete. they may even unfold the word among their own circles of influence, which may flip them into complete ambassadors. however let’s begin at the start. You’ve oversubscribed a product or service to a shopper, thus what next? That’s once you build and implement client retention ways.