Asked by cemsid miroglu on Jul 15, 2024
Verified
Winning back a customer who has switched to a competitor is vastly more expensive than keeping that customer satisfied in the first place.
Winning Back
Refers to strategies or efforts aimed at regaining the favor, business, or support of former customers, clients, or partners.
- Comprehend the essentiality of strategies aimed at improving customer satisfaction and retention.
Verified Answer
BH
Brock HarnerJul 19, 2024
Final Answer :
True
Explanation :
It is generally more expensive to win back a customer who has switched to a competitor due to the increased marketing efforts and incentives required to persuade them to return, compared to maintaining their satisfaction and loyalty through consistent, high-quality service and engagement.
Learning Objectives
- Comprehend the essentiality of strategies aimed at improving customer satisfaction and retention.
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