Resumen
The Internet represents a fundamentally different environment for businesses. It gives firms a global presence and allows them to quickly acquire customers in a cost-effective fashion; on the other hand, it opens up the industry to increased competition and, as a result, reduces the likelihood of businesses retaining customers in the long run. In order to identify effective customer retention strategies, a team worked with one of the largest financial institutions in the U.S. to study some aspects of the behavior and intention of their online banking customers. From qualitative and quantitative analysis of the survey data, the team identified several interesting findings that online businesses can adopt for their retention initiatives. These findings should serve as general guidelines for IS practitioners who establish an e-commerce presence to acquire and maintain customers. For businesses with a large online customer base, the most important finding of this study is that any online retention efforts should start with the categorization of users by their technological sophistication