CHAPTER FOURTEENFINAL THOUGHTS
There’s no one simple answer to the complex challenge of attracting and retaining customers. Implementation is also not easy. But the rewards are significant. According to the Strategic Planning Institute of Cambridge, Massachusetts, offering service that is focused on caring for customers results in customers staying up to 50 percent longer, which, in turn, reduces marketing costs by between 20 and 40 percent and ultimately leads to better net returns of between 7 and 17 percent.1
Ultimately, an organization that is successful at customer retention is successful at what Peter Drucker, whom we quoted earlier in this text, wrote almost fifty years ago: “The purpose of a business is to create a customer.”2 A ...
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