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<blockquote data-quote="UPS Lifer" data-source="post: 322844" data-attributes="member: 9789"><p>You are very astute in your analysis! The word you will hear is "churn". This is the amount of customers that leave a company and go elsewhere for whatever reason. If you can spend your energy to keep a customer you are better off than trying to replace that customer. It takes somewhere between 3 and 10 times the effort to replace the business. (I may be low on that figure)</p><p></p><p>You do have to continue to get new customers but you really need to look at reducing the churn. If you can reduce the churn (keep customers) it has an exponential affect on your overall market share based on the effort it takes to get a new customer rather than keep one. </p><p></p><p>The average customer has approx a 10 year lifespan... A business development person may have updated info on this that I don't have as i write this. </p><p></p><p>It has been proven from customer response that the customer's UPS driver has the most influence on their "loyalty" as a UPS customer.</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 322844, member: 9789"] You are very astute in your analysis! The word you will hear is "churn". This is the amount of customers that leave a company and go elsewhere for whatever reason. If you can spend your energy to keep a customer you are better off than trying to replace that customer. It takes somewhere between 3 and 10 times the effort to replace the business. (I may be low on that figure) You do have to continue to get new customers but you really need to look at reducing the churn. If you can reduce the churn (keep customers) it has an exponential affect on your overall market share based on the effort it takes to get a new customer rather than keep one. The average customer has approx a 10 year lifespan... A business development person may have updated info on this that I don't have as i write this. It has been proven from customer response that the customer's UPS driver has the most influence on their "loyalty" as a UPS customer. [/QUOTE]
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