KNOWLEDGE LIBRARY

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Low Cost of Customer Retention

The positive side of the customer service coin is in retention. It is much less expensive to keep a customer that you have than to go get a new one. It normally will cost you five times to go get a new customer what it costs you to retain an existing customer. So a lot of this too is about how do I keep my existing customers satisfied. And this business with customer service, this is where the business strategy and the supply chain strategy start to hang together. Or should start to hang together and work together. They are not at odds with one another. They are supposed to work together. And logistics sees the business strategy through the eyes of this thing called the customer service policy.

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