Customer Retention Doesn't Equal Profit: Debunking Myths of Customer Management
The article debunks common beliefs about customer management. It challenges ideas like customer retention always leads to more profit, and that customer satisfaction equals loyalty. The researchers suggest a new approach to understanding customers and developing strategies. They emphasize the importance of measuring customer value and using segmentation to tailor strategies. The article also discusses aligning company goals with customer focus and the role of leadership in creating a customer-centric culture. The researchers provide a practical action plan for implementing these ideas.