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Customer Retention Strategies – Basic

Customer retention is a strategic process to retain existing customers.
3.8
3.8/5
(5 reviews)
251 students
Created by

6.9

CourseMarks Score®

5.9

Freshness

6.7

Feedback

7.6

Content

Platform: Udemy
Video: 30m
Language: English
Next start: On Demand

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Detailed Analysis

CourseMarks Score®

6.9 / 10

CourseMarks Score® helps students to find the best classes. We aggregate 18 factors, including freshness, student feedback and content diversity.

Freshness Score

5.9 / 10
This course was last updated on 9/2018.

Course content can become outdated quite quickly. After analysing 71,530 courses, we found that the highest rated courses are updated every year. If a course has not been updated for more than 2 years, you should carefully evaluate the course before enrolling.

Student Feedback

6.7 / 10
We analyzed factors such as the rating (3.8/5) and the ratio between the number of reviews and the number of students, which is a great signal of student commitment.

New courses are hard to evaluate because there are no or just a few student ratings, but Student Feedback Score helps you find great courses even with fewer reviews.

Content Score

7.6 / 10
Video Score: 7.6 / 10
The course includes 30m video content. Courses with more videos usually have a higher average rating. We have found that the sweet spot is 16 hours of video, which is long enough to teach a topic comprehensively, but not overwhelming. Courses over 16 hours of video gets the maximum score.
Detail Score: 9.7 / 10

The top online course contains a detailed description of the course, what you will learn and also a detailed description about the instructor.

Extra Content Score: 5.5 / 10

Tests, exercises, articles and other resources help students to better understand and deepen their understanding of the topic.

This course contains:

0 article.
0 resource.
0 exercise.
0 test.

Table of contents

Description

Customer retention is a strategic process to retain existing customers. It is difficult to exactly define customer retention as it is a variable process. A basic definition could be ‘customer retention is the process when customers continue to buy products and services within a determined time period’. However this definition is not applicable for most of the high end and low purchase frequency products as each and every product is not purchased by the customer.
For example, in the stock brokerage industry, a customer may not buy a particular scrip in the given period of time but is tended to buy the same when the conditions to buy the scrip becomes favorable and when the customer evaluates that now this scrip could be profitable to buy. In this case, the definition of customer retention could be ‘customer retention is the process when customer is intended to buy the product and services at next favorable buy occasion’. Such products are known as long purchase cycle products.
Customer retention is a strategic process to keep or retain the existing customers and not letting them to diverge or defect to other suppliers or organization for business and this is only possible when there is a quality relationship between customer and supplier. Usually a customer is tends to stick to a particular brand or product as far as his basic needs are continued to be properly fulfilled. He does not opt for taking a risk in going for a new product. More is the possibility to retain customers the more is the probability of net growth of business.
Loyalty also means that customer sticks to the supplier on certain grounds though he may be having other options also. It may be possible that the supplier may not have the best product or the customer may have some problems with the supplier, in respect of his supply of the product but the customer likes to ignore other options and prefers to continue with the same supplier as the customer thinks the supplier provides him more value and benefit than others. Such loyal customers tend to spend more money, buy more, buy longer and tell more people about the product or supplier. This type of long-term customer loyalty can only be created by making the customers feel that they are the number one priority with the supplier.

You will learn

✓ No prior knowledge is necessary.
✓ Explain What is Customer Loyalty
✓ Describe the Drivers of Customer Loyalty
✓ Describe the Drivers of Customer Loyalty
✓ Explain What is Customer Satisfaction
✓ Explain Attrition and Silent Attrition
✓ Describe the Various Customer Retention Strategies
✓ Explain the Determinants of Customer Retention
✓ Explain Methods and Tools for Customer Retention
✓ Explain Principles of Retention Management
✓ Explain What is Customer Lifetime Value (CLV)
✓ Explain the Need of Relationship with Customers
✓ Explain How to Use Strategic CRM for Retention
✓ Explain the Myths of Customer Retention
✓ List the Challenges of Customer Retention

Requirements

• No prior knowledge is necessary.

This course is for

• This course is good for management learners and people who want to learn about Customer Retention Strategies

How much does the Customer Retention Strategies - Basic course cost? Is it worth it?

The course costs $12.99. And currently there is a 57% discount on the original price of the course, which was $29.99. So you save $17 if you enroll the course now.

Does the Customer Retention Strategies - Basic course have a money back guarantee or refund policy?

YES, Customer Retention Strategies – Basic has a 30-day money back guarantee. The 30-day refund policy is designed to allow students to study without risk.

Are there any SCHOLARSHIPS for this course?

Currently we could not find a scholarship for the Customer Retention Strategies - Basic course, but there is a $17 discount from the original price ($29.99). So the current price is just $12.99.

Who is the instructor? Is Management Study Guide a SCAM or a TRUSTED instructor?

Management Study Guide has created 162 courses that got 7,128 reviews which are generally positive. Management Study Guide has taught 73,060 students and received a 4.1 average review out of 7,128 reviews. Depending on the information available, Management Study Guide is a TRUSTED instructor.
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6.9

CourseMarks Score®

5.9

Freshness

6.7

Feedback

7.6

Content

Platform: Udemy
Video: 30m
Language: English
Next start: On Demand

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