Customer retention management in the recession

Abstract

The purpose of this article is to explore customer retention strategies and tactics implemented by firms in recession. Our investigations show just how big a challenge many organizations face in their ability to manage customer retention effectively. While leading organizations have embedded real-time customer life cycle management, developed accurate early warning systems, price elasticity models and deal calculators, the organizations we spoke to have only gone as far as calculating the value at risk and building simple predictive models. © 2010 Macmillan Publishers Ltd.