"Studies have shown that increasing your existing customer's spending
by even 5% can translate into a 25% to 95% increase in your company's
profitability."
Can these studies be found on the Internet? Where can I find these
studies? Are there similar studies located on the Internet as
articles? I really like this quote but I really can't use it because
what if someone asks "What studies did you look at?" Then I wouldn't
know. I'd really be interesting in finding articles or case studies.
Howdy prettyugly-ga,
I can refer you to the book that appears to be the source of
the quotes you are seeing. It is a scholarly work (Harvard
Business School publishes it) and described as:
"In this paperback edition of the acclaimed book ... reveals
the secrets of successful companies that base their business
strategies on loyal relationships. With concrete advice that
has stood the test of time, he analyzes the true economics
that drive long-term business success, and his startling
conclusions show how even a small improvement in customer
retention can sometimes double profits."
The reference I have found also has white papers, etc. on the
subject as well.
Prices for the white papers, etc. range from $4.00 and up.
The above referenced paperback can be purchased new for as
low as $10.00.
Would this be acceptable as an Answer?
Looking Forward, denco-ga - Google Answers Researcher Customer Retention Program - CustomerVoice::
CustomerVoice from Allegiance is a customer retention program that helps companies quickly respond to customer needs, improving overall customer retention
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I've seen many similar quotes. What I'm looking for is the "How"
exactly the result occurs. In essence, I'd like to see some numbers,
preferably from a white paper or a case study example.
Howdy prettyugly-ga,
Would the book source of the following quote be of help?
"Raising customer retention rates by five percentage points could
increase the value of an average customer by 25 to 100 percent."
Other books that cover these kinds of topics could be referenced
as well.
Please advise, denco-ga - Google Answers Researcher
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Customer Retention