Customer Retention - Online!

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[editor]

Hi,

They say that an existing customer is often 20 times more valuable than a new customer, considering the cost of acquiring new customers and the lifetime value of an existing customer. Of course that depends on a lot of variables.

Lexus values its customers, on average over the lifetime of the customer, at $600,000.

LagosHost.Com value their customer at $5,000

Taco Bell values each customer at $12,000.

Many companies have instituted Customer Retention programs, in order to increase customer retention rates.

In an online environment, how do you suppose a company can best keep its customers? What specifics tips do you have to offer for customer retention?

[oyedepo1]

Customers can be retained by constant communication, sharing new ideas and new products with them. Connect with customers through Social Networks like Twitter, Facebook and others and always be there to answer their questions.