Do you know who’s boycotting your business

ABSTRACT:
Could your customer attrition problem be a symptom of a larger issues?

image Source: http://m.seekingalpha.com/article/174443-rip-retail-stores-closed-in-2009

We’ve heard about Main Street struggles in many local economies. The assumptions in most media coverage go unnoticed. It is a generally accepted barometer for local economic health. Many towns have expanded and seen old downtown districts evolve. While others have made stepping backwards economically viable.
This may be fine for older or even old style businesses. Newer businesses, in particular, have special vulnerabilities that make survival past the fifth anniversary seem unlikely. This gives gravity and weight to issues of customer attrition and brand equity.
“There were over a half-million new business owners last year:
25% will fail in their first year of business.
Of those remaining, 36% will fold in their second year.
Of those still standing, 44% will fail in their 4th year.
And of those remaining, HALF will fail in their 5th year.”
Source: mashable.com
We’ve heard about Main Street struggles in many local economies. The assumptions about it in most media coverage go unnoticed. It is a generally accepted barometer for local economic health. Many towns have expanded and seen old downtown districts evolve. While others have made stepping backwards economically viable.
This may be fine for older or even old style businesses. Newer businesses, in particular, have special vulnerabilities that make survival past the fifth anniversary seem unlikely. This gives gravity and weight to issues of customer attrition and brand equity.

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