TOP FIVE B2B CUSTOMER RETENTION BEST PRACTICES
TOP FIVE B2B CUSTOMER RETENTION BEST PRACTICES
5 PagesCustomer churn is often the biggest inhibitor of organic growth for B2B companies. In Frederick Reichheld’s “oldie but goodie” book, The Loyalty Effect, he makes the following assertions: According to a recent McKinsey report, B2B companies that focused on changing their customer experience processes saw a 10-15% growth in revenue, higher client satisfaction scores, improved employee satisfaction, and a 10-20% reduction in operation costs. In a typical company today, customers are defecting at the rate of 10 to 30 percent per year.
