White Paper: Best Practices for Personalized Retention Strategies

"Build it and they will come" may have worked in the Field of Dreams in Iowa, or even for some companies during the tech bubble, but in today's competitive business environment, the focus of successful companies must be on what their customers need and want?not only today, but communicated every day in a dizzying stream of calls, emails, surveys and spending behavior. If you're not carefully listening to what your customers are trying to tell you, you're dramatically minimizing your competitive advantage. Satisfaction of customer needs, in terms of relevant products and high-quality services, will ultimately determine the success of your business.

Failure to satisfy the customer's needs through the channel of their preference, at a time that's convenient for them, and with a product or service they need and want, is a recipe for attrition. Given that it costs hundreds of dollars to acquire each new customer and even more to get them to profitable utilization levels, the business metrics associated with retention become even more compelling.

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