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Follow the 5% - 75% Rule.
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- Subject Terms:
- Abstract:
The article "Follow the 5% - 75% Rule" emphasizes the importance of appreciating customers and their business by analyzing customer communications, acting on feedback, and prioritizing customer retention. It discusses how a modest increase in customer retention can lead to significant profits over the lifetime of the customer relationship. The article provides examples of companies, like Apple and Starbucks, that have successfully built loyal customer relationships by understanding and delivering value to their customers. It also offers a 7-point assessment to help businesses identify and prioritize their Value Producing Opportunities (VPOs) for growth and profitability. [Extracted from the article]
- Abstract:
Copyright of American Salesman is the property of National Research Bureau and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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