Towards Retention And Moving Beyond Acquisition. : Refining Consumer Customer Retention at Vaarani Works Oy
Muriuki, Mike (2015)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201601291748
https://urn.fi/URN:NBN:fi:amk-201601291748
Tiivistelmä
In today’s highly competitive cloud business market, increasing customer retention strategies emerges as an important challenge faced by most marketers. An even more demanding task, is minimizing customer churn rates within organisations. Organisations are striving to move beyond just acquiring customers and towards excellence through retention. For businesses to remain competitive and successful, they have to develop methods and strategies that ensure they acquire and retain only the profitable customers.
Customer retention is seen as an essential and critical success factor with most organisations. For organisation to become and remain success entities within their field of operation, there is need to minimise customer acquisitions cost, retain the profitable and ultimately reduce customer churn rates.
The purpose of the study was thus established to refine consumer customer retention at Vaarani Works Oy. A quantitative research was conducted in were respondent’s evaluated commitment, trust and retention towards cloud service providers. The survey sample was acquired from a local organisation within Nokia city. All the respondents had previous or current usage knowledge of cloud services.
The findings provided a unique snapshot as to how customer relationship development and building can positively influence retention and churn reduction. A concrete foundation of suggestions was developed to implement measures that would increase retention and reduce churn rates.
The implementation of the measures can at minimum help increase retention rates within the organisations and reduce customer churn rates.
Customer retention is seen as an essential and critical success factor with most organisations. For organisation to become and remain success entities within their field of operation, there is need to minimise customer acquisitions cost, retain the profitable and ultimately reduce customer churn rates.
The purpose of the study was thus established to refine consumer customer retention at Vaarani Works Oy. A quantitative research was conducted in were respondent’s evaluated commitment, trust and retention towards cloud service providers. The survey sample was acquired from a local organisation within Nokia city. All the respondents had previous or current usage knowledge of cloud services.
The findings provided a unique snapshot as to how customer relationship development and building can positively influence retention and churn reduction. A concrete foundation of suggestions was developed to implement measures that would increase retention and reduce churn rates.
The implementation of the measures can at minimum help increase retention rates within the organisations and reduce customer churn rates.