Abstract
In this article, the writer discusses that the customer retention strategy used at the company at which the writer works is actually comprised of four specific tactics. The writer then describes and explains the four major tactics used for increasing customer retention. The writer maintains that tying all these tactics together into a unified strategy requires a constant focus on measuring how effective they are through the use of analytics to gauge the retention rate of customers. The writer also looks at the problems and future trends regarding customer retention in the company concerned. In addition, the writer evaluates the advantages and liabilities of the customer retention strategy used at the company.

Outline:
Background and Introduction
Main Conclusions
Recommendations
Critiquing the Customer Retention Strategy
Background
Lack of Consistent Analytical Measures of Customer Retention
Excessive Personal Support for Large Accounts at an Unknown Cost
No Visibility of Channel-Based Retention
Future Trends
Limitations, Conclusions and Recommendations

From the Paper
"The following are the major conclusions from this critique of the customer retention strategies for the company at which the writer works:
"First, the four tactics the company uses is delivering results and it is estimated that the company has approximately a 60% retention rate. Yet the contribution of each of these tactics in hard numbers is not known, so the company is constantly re-shifting the mix of these four tactics that comprise our strategy.
"Second, there is no win/loss analysis to determine how effective the combination of these strategies in conjunction with each other. When one loses a customer there is much anecdotal discussion yet nothing definitive.
"Third, there is no process in place to take the lessons learned from customer retention programs and change product strategies. The link between customer retention and product direction is not in place and therefore it can take years before any lasting change comes to products."

Tags:service, tactic, promotions, product

Abstract
This paper discusses the theory and the practice of customer retention. In addition, the ideas of loyalty, intimacy, and satisfaction are studied to determine their place in the customer retention of today and the future. A better understanding of how organizations and customers define customer retention is vital to this study, as is learning how various firms measure customer retention. The paper examines how customer retention works and identifies what can be done by various companies to determine how best to serve their customers and keep them coming back.

Contents
Chapter One
Introduction
Statement of the Problem
Purpose of the Study
Importance of the Study
Scope of the Study
Rationale of the Study
Definition of Terms
Overview of the Study
Chapter Two
Review of Related Literature
Chapter Three
Methodology
Approach
Data Gathering Method
Database of Study
Validity of Data
Originality and Limitations of Data
Summary

From the Paper
"Customer retention has become very important as society continues to grow. When society was very young, there were only a few merchants and they only had certain things that they sold to those that lived and worked nearby. As the population expanded and demand for more things was created, more and more merchants and businesses were established. This created much more competition based on price and other factors, and one of these factors was the treatment of the customers so that they would return to purchase from that shop again. Thus customer retention was born, and it has continued to increase in importance as the population and their demands continue to grow."

Tags:company, client, behavior, shoppers

Abstract
This paper describes a business research problem on a theoretical business, the methods for testing the hypothesis, the data collection method, sample size, assumptions, levels of measurement, and the descriptive statistics that will be needed. The study uses statistical data gathered from initiating research in a business, examining problems related to customer retention in a retail environment. The business is a large chain of bicycle shops in the Northwest United States.

The Business Research Problem
Methods for Testing a Hypothesis
Data Collection Method
Sample Size
Assumptions
Levels of Measurement
Descriptive Statistic Needed

From the Paper
"The business research problem is how to retain first time customers and bring back former bicycle shop customers. The bicycle shop carries a database of 6,000 total customers. Of the 6,000 customers, 2,000 are current customers. The bicycle shop's new customers are approximately 23 per week. The percentage breakdown for all categories is 65% men, 35% women. A current customer is someone who has used a bicycle shop service in the past six to eight weeks. A former customer is someone who has not used any of the services offered in the past year. The hypothesis to be tested is as follows: New customers and former customers will be retained and visits increased by mailing customer service oriented surveys. Through mail-in surveys over a period of time, analysis will be able to prove if this is correct."

Tags:multiple, regression, Likert, technique, z-test, t-test, ex, post, facto, design

Abstract
This paper presents a general review of the literature on customer loyalties to understand the return on investment (ROI) for holding a member for one, five or ten additional years and to understand the cost-effectiveness and programs of various companies in the banking, computers, and other competitive environments to demonstrate in what way membership organizations channel their resources. The author uses an exploratory comparative case study to analyze specific companies: Pacific Coffee Company, Canadian Imperial Bank, First Union Bank City Super, USAA, Mercedes, SunExpress, Telesales and PC Universe. The paper states that companies must develop a strategic that focuses their energy and resources totally on customer retention, customer relationships and the creation of customer loyalty and value so that attrition can be quickly identified and remedied and defection can be prevented. Tables

Table of Contents
Introduction
Introduction
Background
Purpose of the Study
Hypotheses
Definitions of Terms
Organization of the Remainder of the Study
Literature Review
Customer Loyalty
The Customer Loyalty Pyramid
Store Loyalty and Brand Loyalty
Return in Investment (ROI) of Customer Retentions
Customer Lifetime Value (CLV)
Research Methodology
Purpose of this Study
Introduction
Participant Samples
Research Design
Conclusion
Research Findings
Pacific Coffee Company
Canadian Imperial Bank
First Union Bank
USAA
Mercedes
SunExpress
Research Analysis
Conclusion
Recommendations

From the Paper
"Determining the CLV, or economic worth of a customer, is, in principle, a straightforward exercise. To calculate CLV, project the net cash son, household, or company whose revenues over time exceed, by an acceptable amount, the company costs of attracting, selling, and servicing that customer. This excess is called customer lifetime value (CLV). Customer lifetime value should be an important construct in designing and budgeting a number of marketing decisions such as customer acquisition programs (Dwyer, 1989). Recognizing its importance, many researchers in direct marketing have studied CLV and its managerial applications "

Tags:formula, clv, roi, strategy, detection

Abstract
This paper provides generic benchmarking of two companies that struggled with customer acquisition and retention--Wolters Kluwer and Sprint Nextel. Each company's problem is described, the company's response is explained, the outcome is detailed, and the scenario is related to course concepts. The paper concludes with a brief comparison and contrast of the two companies' situations.

From the Paper
"The customer acquisition and retention problems experienced by SmithSystems Consulting are common. Many companies struggle with similar issues today. As one report points out; "Loyalty experts agree it is more cost effective to retain customers than to acquire them, but few companies have strong programs in place. And those that do may be focusing on the wrong things." (Thompson) Two such companies are U.K. based WoltersKluwer and U.S. based Sprint. Both companies' practices with respect to their..."

Tags:generic benchmarking, Sprint Nextel, Wolters Kluwer, comparison, contrast, UOP, customer acquisition, customer retention

Abstract
Based on ten books written on the subjects of consumer behavior and customer service, this paper sets out to show whether customer centricity has been the focus of businesses for some time, and whether it has been addressed correctly. The writer explains that the study of customer retention information shows that what it takes to keep customers coming back is quite different from what it takes to attract new ones, and discusses various types of customer loyalty programs. From the literature four specific areas that need to be examined in order to help businesses improve customer focus are identified, as well as six factors that are often seen as imperative in improving customer retention, and five specific dimensions of service quality. The paper concludes that although most studies have indicated that retaining old customers is what really boosts business growth, many businesses still persist in spending more to get new customers who will cost them money by leaving, instead of spending less to retain loyal ones.

From the Paper
"It is significant to remember when looking at customer centricity that people seldom stop patronizing a business simply because of ordinary interactions that they deal with when they shop there but instead because of the failure of the specific organization to handle situations that could be potentially problematic to the satisfaction of the customer (Bowen & Lawler, 1992). Personnel who come into contact with customers need to be able to think for themselves, take responsibility for their actions, and respond well to the pressure that often comes from customers who are angry or upset (Bowen & Lawler, 1992)."

Tags:success, customer satisfaction, effective personnel, problem solving, performance coaching communication

Abstract
This paper attempts to explain how Delta Airlines has made a successful transition from being another American-based carrier focused purely on efficiency to one concentrating on customer satisfaction and customer retention. The paper looks at how Delta Airlines has accomplished this through a combination of process-based, technologically-based and strategy-based initiatives that has led to their achieving customer centricity in their organizations. Suggestions are provided for how Delta Airlines can become more customer-centric and the paper also explains how lasting change can be made within Delta's ongoing marketing strategies through strong leadership.

Outline:
Introduction
Assessing Delta Airlines Customer Centricity
Change for Greater Customer Centricity at Delta Airlines
Driving Change and Leadership in Customer Centricity

From the Paper
"Of all domestic air carriers in the U.S., Delta Airlines continues to lead competitors in the areas of integrating Web-based and mobile technologies to give its customers an opportunity to interact with the company how they choose to. Delta's use of mobile-based check-ins, increasing reliance on their website for processing upgrades, seating assignments and managing special dietary needs illustrate how the company is successfully using Web-based, mobile-based and social networking applications to be more customer centric than competitors. The collection of technologies known as Web 2.0 are forming the foundation of social networking applications that seek to create more collaborative relationships with customers (Bernoff, Li, 2008). Appendix A of this document provides an overview of social networking applications."

Tags:satisfaction, retention, air, carriers

Abstract
This paper discusses customer loyalty, using the company Comcast Corporation as a case study. The paper begins with an assessment of the roots of customer loyalty, which it maintains are in staff loyalty. Next the paper examines how customer loyalty is developed. Then the paper asks how customer loyalty is incorporated into marketing strategy. Finally, the paper studies the affect of customer loyalty on Comcast's customer retention.

From the Paper
"Winning customer loyalty begins with winning staff loyalty. Companies that try to win customer loyalty without first winning staff loyalty often find that in spite of great customer loyalty programs and initiatives their results fall far short."

Tags:customer loyalty, staff loyalty, customer retention, Comcast Corporation, marketing

Abstract
This paper asserts that establishing exceptional customer satisfaction is key to the success of companies doing business in an increasingly competitive global economy. Noting that product quality or price can no longer be the only factors that establish market share, the paper explains that customer satisfaction, or perceived customer satisfaction, is a major component within a company's profitability especially since it can cost up to five times as much to attract a new customer, as retain an old one. The paper concludes that customers who are exceptionally satisfied and delighted with the product or service being offered, are likely to repurchase and spread good word about the product or service.

From the Paper
"If anyone doubts customer satisfaction is a key element of business success, they should key in those two words into an internet search engine and look at the number of companies and articles devoted to not just good customer service but exceptional service being a key element to remain competitive in today's increasingly competitive electronic, global economy. Customer service is not limited to items purchased. It goes deep into all businesses - e-commerce, groceries, retailers, auto dealers, airlines, and ..."

Tags:consumer, disgruntled, market, sales

Abstract
This paper addresses challenges facing managers with regard to employee or customer retention due to changes in technology and provides suggestions on how these might be managed. It looks at the causes of both employee and customer resistance to changes and advises making changes in "baby steps."

From the Paper
"Technology can be a great tool for retaining customers and employees but it can also pose retention challenges for both. Even in today's technology-savvy environment there are always some customers and employees who fear technology and ..."

Tags:technology, challenges, management, self-serve checkouts