Customer Retention, Behaviour and Emotions.
The 1st Worldwide Research on Customer Retention where customers are not false “Kings” anymore.
They are just themselves. Powerful individuals with values, strong opinions and dreams.
In 2014 we ran the first Customer Retention Study in Romania dedicated to retention & loyalty specialists. The results were published in the book “This is Retention”. One of the most important outcomes was that, from the experts perspective, there are top 3 needs for a successful Retention Strategy: Knowing your customers, Adaptability to customers feedback and Freedom in choosing the right solution for a churning customer. There are 2 things that these reasons have in common: customer & empathy (because knowing someone, adapting to the needs and most of all, freedom are all empathy attributes). This is where our motivation stands: do customers have the power to change a business only with their feelings? Are we in the Era where customers should be aware that they don’t need to ask anymore? Is it enough to feel and act accordingly? Are the companies ready for this?
The results will also serve academic purposes as the baseline of the first Ph.D. program in Romania dedicated to Customer Retention at The Bucharest University Of Economic Studies. The Ph.D. program is conducted by one of the most valued Cybernetics & Statics Professors worldwide, Mr. Niculae Mihăiță. Holding almost 3 decades of academic experience, Mr. Mihăiță is one of the fewest Romanian professors published in the International Journal of Economic and Political Integration (USA, 2015) and a keynote speaker (including Semiotic Congress in Nanjing, China, 2011). He received several times the Best Paper Award at International Cybernetics Conferences for innovative papers like “The Emergence of Cybernetics in Semiotics. Case Study: Art, Poetry and Absurd Theatre”. His Doctoral Dissertation received The Best International Doctoral Thesis by the Academy of Marketing Science.
“Customer Empathy & Retention” study was not ordered, paid, requested or sponsored by any agency, organization or third party. The study was created on the firm belief that future is built by people and with the authentic eagerness to discover, to find our more about the world we live in, the ones around us & the future of businesses worldwide. Being 100% independent was one of the primary objectives of the concept stage. As it was created only in our “laboratories” (more precisely, a home office), with no content pressure from sponsors, no corporate culture influence from any organization or no preconceived opinion about customers, The “Customer Retention & Empathy” Study is closer to the objective academic approach than to a corporate need. Therefore, our commitment is that results will be shared with the public once they will be compiled in relevant analysis & conclusions.
The 1st Phase of the Study is completed. We are working on results analysis.
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