Understanding Customer Churn Customer churn, often referred to as customer attrition, is the term used to describe the loss of clients or customers over a specific period. This phenomenon is critical to businesses as it directly influences revenue and profitability. When customers discontinue their relationships with a company, particularly in sectors with competitive offerings, the…
Customer Satisfaction Customer satisfaction, commonly referred to as CSAT, is a crucial performance indicator that reflects how products or services meet or surpass customer expectations. In today’s highly competitive market, understanding and optimizing CSAT is vital for businesses aiming to foster loyalty and retention among their client base. A high level of customer satisfaction signifies…
What is Net Promoter Score? The Net Promoter Score (NPS) is a widely recognized metric used to gauge customer loyalty and satisfaction based on their willingness to recommend a company’s products or services to others. The NPS framework was introduced by Fred Reichheld in 2003, and it has since gained traction across various sectors as…
Introduction to Business Marketing Business marketing, often referred to as B2B (business-to-business) marketing, encompasses a broad array of strategies and tactics that companies utilize to promote their products or services to other businesses. This practice is distinct from consumer marketing, which targets individual customers. In today’s highly competitive marketplace, effective business marketing is essential for…