Benefits of Relationship Marketing: Reduced Churn Cost Reduced Churn Cost refers to the decreased rate at which customers end their relationship with the company. What are examples of strategies do companies use to reduce churn cost? Through Reduced Churn Cost TD Bank is serving its customers for over 150 years. To better serve its growing clientele TD Bank has set up over Twelve Hundred (1200) convenient locations and ATM around the United States of America and Twenty-Six Hundred (2600) in Canada – how has this led to reduced churn costs? For the 10th year in a row, the financial services company (TD Bank) ranked first in overall customer satisfaction on J.D. Power’s annual Canadian Retail Banking Satisfaction Study. (Marketing 2015). Bank of America is TD Banks’s largest competitor as it can …show more content…
It increases employees level satisfaction and retention. Apply these(in red) to your company. You point below on locations, opening hours, mobile service do not have anything with these points in red. Align your discussion. Through the convenience of location, opening hours, open on weekend, mobile banking and variation in banking service TD Bank continues to grow as demonstrated in the statistical report shown by Stistica. Bank of America is TD Banks’s largest competitor as it can be found in all of TD Bank’s service locations. However, in the past year, Bank of America has made cutbacks on their branch numbers leading to a slight increase in TD Bank’s account as of April 2017. Customer Lifetime Value This is a predication of the value that a business stands to benefit from their entire relationship with the customer. This can be for, example revenue or word of mouth promotions. Illustrate this a our