Before Starbucks, McDonald’s, Pepsi Co. and Coca-Cola decided to halt operations in Russia, I couldn’t help but think about how continuing to keep these brands bumping along would affect customer retention on a global scale.

Russia and Ukraine make up 9 percent of McDonald’s revenues. I’m confident that the company would lose a significant amount of business elsewhere if it didn’t preemptively close its Russian locations.

Iconic American brands aren’t immune to cancel culture, and businesses are no longer politically neutral, either. Customers want to know where management teams stand on social, political, and cultural issues.

At Concepts Rise, we help the C-Suite understand the pains and needs of customers to ultimately grow revenues. This also applies to geopolitical issues that have implications for customer retention.

A central aspect of a great customer retention program is knowing who your customer is and what they care about. While most data analytics platforms provide feedback on purchasing habits, a wise organization will also consider other variables, including political, social, and environmental factors to help insulate it from potential shockwaves involving customers, employees, and the community.

Digital Consumer Sentiment Survey

We recently issued our first Digital Consumer Sentiment Survey, which looked at why Americans may be inclined to cancel online subscriptions in the year ahead.

Our survey found that cost was the No.1 factor influencing Americans’ decision to cancel an online subscription to a movie, music, or other media service. You can check out dot.LA’s take on our survey here.

Even though deciding to drop a subscription service based on cost vs. a company’s affiliation with a particular country are inherently different, the underlying reason to know why a customer may cancel a service or boycott a business is the same.

It comes down to enhancing customer retention, which makes revenues more resilient in times of uncertainty.

To your success,

Majid

Majid Abai Concepts Rise CEO headshot

Majid Abai
CEO & Founder
Concepts Rise
Office: 424-320-0523
Email: majid.abai@conceptsrise.com