: ▁A cknow led ging ▁the ▁social ▁and ▁rel ational ▁aspects — es pecially ▁those ▁embedded ▁in ▁services — it ▁has ▁been ▁argued ▁that ▁fir ms ▁can ▁increase ▁ret ention ▁by ▁foc using ▁on ▁man aging ▁customer ▁relationships . ▁Rel ations hip ▁management ▁occurs ▁when ▁fir ms ▁can ▁take ▁a ▁longer - ter ms ▁perspective , ▁rather ▁than ▁a ▁transaction al ▁perspective ▁to ▁man aging ▁their ▁customer ▁base . ▁However , ▁all ▁long - term ▁customers ▁are ▁not ▁prof itable , ▁and ▁worth ▁retain ing ; ▁sometimes , ▁short - term ▁transaction al ▁customers ▁can ▁be ▁more ▁prof itable ▁for ▁the ▁firm . ▁As ▁such , ▁companies ▁may ▁have ▁to ▁strateg ically ▁develop ▁a ▁framework ▁to ▁manage ▁un prof itable ▁customers . ▁ ▁Customer ▁lifetime ▁value ▁ ▁Customer ▁lifetime ▁value ▁enables ▁an ▁organization ▁to ▁calculate ▁the ▁net ▁present ▁value ▁of ▁the ▁profit ▁an ▁organization ▁will ▁realize ▁on ▁a ▁customer ▁over ▁a ▁given ▁period ▁of ▁time . ▁Ret ention ▁R ate ▁is ▁the ▁percentage ▁of ▁the ▁total ▁number ▁of ▁customers ▁retained ▁in ▁context ▁to ▁the ▁customers ▁that ▁approached ▁for ▁cancel ation . ▁ ▁Standard ization ▁of ▁customer ▁service ▁ ▁Pub lished ▁standards ▁exist ▁to ▁help ▁organizations ▁deliver ▁process - dri ven ▁customer ▁satisfaction ▁and ▁Customer ▁Success ▁in ▁order ▁to ▁increase ▁the ▁lif es pan ▁of ▁a ▁customer . ▁The ▁International ▁Customer ▁Service ▁Institute ▁( T IC SI ) ▁has ▁released ▁The ▁International ▁Standard ▁for ▁Service ▁Ex cell ence ▁( T IS SE ▁ 2 0 1 2 ). ▁T IS SE ▁ 2 0