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Acquiring a new customer can cost five times more than retaining an existing one. Additionally, increasing customer retention just by 5% can increase profits from 25-95%. In other words, understanding the nuances of customer retention is paramount.
You can’t get away with just attracting new customers. Your strategic goal is to keep them engaged and loyal. In this article, we will go through the techniques we employ to measure and improve retention for our clients. Let’s dive right in.
Acquiring a new customer can cost five times more than retaining an existing one. Additionally, increasing customer retention just by 5% can increase profits from 25-95%. In other words, understanding the nuances of customer retention is paramount.
You can’t get away with just attracting new customers. Your strategic goal is to keep them engaged and loyal. In this article, we will go through the techniques we employ to measure and improve retention for our clients. Let’s dive right in.
