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Direct-to-consumer sales can drive stronger brand loyalty and customer retention. [2] The main risks in the online Direct-to-consumer are expanding liability risk, cyber risk, and more supply chain demands. DTC exposes a business to tasks that would otherwise be taken up by wholesalers and retailers, such as shipping, labelling, and cybersecurity.
Customer attrition, also known as customer churn, customer turnover, or customer defection, is the loss of clients or customers.. Companies often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the cost of retaining an existing customer is far less than the cost of acquiring a new one. [1]
However, they are rarely called that, but are rather called industrial customers or business-to-business customers. [8] Similarly, customers who buy services rather than goods are rarely called consumers. [1] Six Sigma doctrine places (active) customers in opposition to two other classes of people: not-customers and non-customers:
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Existing customers cost much less to serve. Potential new customers. Generally speaking, brand loyalty will increase profit over time as firms do not have to spend as much time and money on maintaining relationships or marketing to existing consumers. [citation needed] Loyal long-term customers spend more money with a firm.
Since the customer to customer marketing strategy is strongly focused on serving the customer, the business model of Craigslist is simple: serve the customer first. Utilizing this model, Craigslist has developed into a prime example of a customer to customer driven 'machine', which focuses on the customer selling to the customer.
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