The win back of lost consumers

Abstract

Loss of consumers represents a growing problem for businesses. The high level of competition in the market, a large number of offered products and services, and information that are available at every step, allow consumers to easily make the decision to leave the company and go to the competition. To put the problem in the right perspective, it is necessary to study the lifetime value of consumers, for the company to be aware of the loss when consumers leave it. The second lifetime value should also be recognized, as an income that a company can actualize after winning back consumers. The research that talks about how companies can win back lost consumers, and the efforts they should invest in order to achieve success during the conquest will be shown, followed by concluding observations.

Keywords

• lost consumers
• win back
• lifetime value of consumers