I worked for AT&T a fews years after their world radically changed.
They had been a monopoly until January 1, 1984 when they were forced to divest the local exchange companies.
AT&T market share had no where to go but down.
However, instead of giving their most profitable customers incentives to stay with them, they offered almost everyone an incentive to come back AFTER they’d left!
Last week, after my subscription lapsed, I got a special offer to subscribe to Harvard Business Review for $30 lower than the regular renewal rate.
Subscription products aren’t the only ones that make these offers.
Credit card companies offer reduced interest rates to customers that have paid off or attempt to cancel their cards.
Employers offer retention incentives to some people who try to resign.
Why can companies be more accommodating when you’re leaving than when you’re there?
Isn’t it better to reward the people you have before they become the ones that leave?