Customer Attrition and Retention

Attrition is the key indicator in measuring the success of any retention and customer service strategy. It is a monthly performance indicator that should be acted upon sooner rather than later.

Relationship attrition is the number of customers who do not renew their relationship in any one-month, expressed as a percentage of the number of customers at the start of the month.

Each organization will have its own means of measurement that relates to its management systems, but as long as this is consistent, it is only the fluctuations that are relevant.

The measure of relationship retention is an important indicator of how effective your organization is in meeting the desires of your customers. In sone instances, the rate at which people stop attending on a regular basis or fail to renew their relationship can be very high.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

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