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customer retention

Customer Retention is a term from Customer Relationship Management

(CRM). The goal of a company within the framework of the CRM concept is to actively bind a customer to the company. This customer loyalty is systematically pursued by analyzing the customer's needs and satisfying them in the best possible way before, during and after the purchase. Ideally, this leads to the stages of customer satisfaction, customer loyalty and, in the best case, customer enthusiasm. The result of a successfully applied CRM concept is long-lasting customer retention. The customer lifetime value (CLV) can be calculated using the key figure Customer Lifetime Value.

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Englisch: customer retention
Updated at: 03.05.2012
#Words: 91
Translations: DE