Measuring Customer Retention

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MIT School of Distance EducationMeasuring
Customer Retention
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Measuring Customer Retention

• Customer retention refers to a products ability
  to turn new clients into repeat customers.
• It occurs when customers find your product
  valuable enough to stick with it for a long time.
• With existing customers returning to your
  product, sustainable growth and revenue aims are
  easier to achieve.
• Measuring customer retention is vital for
  understanding the effectiveness of your business
  strategies and maintaining long-term success.

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Why Customer Retention is essential?

• Stability Retained customers provide a stable
  revenue base, reducing reliance on acquiring new
  customers.
• Profitability Repeat customers tend to spend
  more over time, increasing overall profitability.
• Word-of-Mouth Satisfied customers become brand
  advocates, attracting new customers through
  positive word-of-mouth.
• Trust Long-term relationships build trust,
  fostering loyalty even in the face of occasional
  issues.
• Feedback Loop Retained customers offer valuable
  feedback for product/service improvement.
• Reduced Marketing Costs Less marketing effort is
  needed to retain customers than acquiring new
  ones.
• Competitive Edge High retention rates signal a
  robust and customer-centric brand.

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5 Metrics to measure Customer Retention

• Customer retention rate (Buyers at the End of
  the Duration) - (New Customers Acquired) /
  Customers at the Start of the Duration
• Repeat Purchase Ratio Number of Returning
  Buyers/ Number of Total Buyers
• Monthly Revenue Growth Rate (Rate at the end of
  the month - Rate at the start of the month) /
  Rate at the start of the Month
• Product Return Rate Number of Units Sold which
  later returned / Total Number of Units Sold
• Net Promoter Score Promoters - Detractors

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Learning Marketing Management

• Marketers must regularly update their knowledge
  and skills. It helps them to efficiently and
  effortlessly adapt to changes. Upskilling gives
  them a better opportunity to identify trends,
  network with people and sharpen their skills.
• MIT School of Distance Education (MITSDE) is one
  such institute that understands the current
  skills gap in the market and strives hard to
  reduce it. For this purpose, MITSDE brings to you
  PG Diploma in Marketing Management (PGDM
  Marketing Management).

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Why MITSDE ?

• Develop analytical skills to forecast market
  movement, competitor strategies and growth rate
• Learn Marketing Information System tools for
  effective CRM, implementation of marketing
  strategies and perfect the marketing mix
• Evaluate and strategize according to the ethical
  and environmental scenario
• Apply knowledge of concepts and tools to develop
  creative marketing strategies and overcome
  challenges
• Learn the tools and techniques of Digital
  Marketing

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Potential Careers Opportunities
A full-fledged course in marketing shall prepare
you to take up challenging roles namely

• Advertising Manager
• Advertising Art Director
• Market Research Manager
• Marketing Manager

• Digital Marketing Manager
• Public Relations Manager
• Business Development Manager
• Brand Manager

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About US

• MIT School of Distance Education is one of the
  largest distance learning center in India. We
  offer various Post Graduate Diploma and
  Certificate programs Online MBA Course across
  various industry sectors that include Operations
  Management, Project, Information Technology,
  Banking and Finance, Digital Marketing, Business
  Analytics and many more. MITSDE has, an online
  assessment system, flexi-learning approach and
  provides state-of the-art Learning Management
  System (LMS) which is in line with its mission
  'flexible learning opportunities anywhere,
  anytime, and to provide ultimate convenience,
  ease, and flexibility to our students.

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Advantage of learning with MITSDE

• Self-paced learning
• Live webinars and doubt solving sessions
• Quick and highly-responsive student support
• Dedicated student support team

• Regularly updated syllabus
• Industry-relevant course offerings
• Courses taught by Industry Experts
• Affordable courses
• No cost EMI options

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Placement Record at MITSDE
MITSDE has a dedicated Placement Cell providing
100 placement, CV building workshops and Career
Counseling. Our Student Placement
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Placement Record at MITSDE
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Contact Us

• Address
• MIT Alandi Campus, Pune Moshi-Alandi Road,
  Alandi-412105,Pune Maharashtra (India)
• Phone [phone]

• Email ID admissions_at_mitsde.com
• Website www.mitsde.com

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