January 14th, 2015 | 
Author: Loud Thinking January 14, 2015 at 02:19PM
Avoid Common Traps When Measuring Customer Turnover
Acquiring new customers is expensive, which is why you want to attract and keep the right customers. One way to measure whether you’re doing this is to calculate your customer churn rate — just make sure you avoid these common mistakes:
Don’t look at churn as simply a number or metric. Think about the behavior behind the number. Ask: What are we doing to cause customer turnover? What are our customers doing that’s contributing to their leaving? How can we better manage our customer relationships to make sure it doesn’t happen?
Don’t believe there’s a magic number. What’s acceptable varies by business model and depends on how quickly and efficiently a company can acquire customers and how profitable they are in the short and long term.
Don’t assume you have a retention problem. Often, a high churn rate is because you’re attracting the wrong kinds of customers in the first place.
Adapted from “The Value of Keeping the Right Customers” by Amy Gallo.
Loud Thinking January 13, 2015 at 09:50PM
Misbah ul Haq has announced that after the World Cup, he will be retiring from the ODI games and will only play Test matches.
Here, I am reminded about the statement of Mr. Zaheer Abbas many decades ago, wherein, it was informed that he (ZA) will be retiring from the ODI games; and will only play Test matches. But what happened thereafter was that the then Captain Mr. Imran Khan, didn’t select ZA for the Test team and eventually Mr. Zaheer Abbas, was forced to quit the game, altogether.
Let us see what is in store for MUQ in future.
