It takes a lot to earn a customer’s loyalty. And once you bring someone into your company’s ecosystem, the last thing you want to do is lose them.
By emphasizing customer retention as a key performance indicator (KPI) for your business, you can ensure your priorities are in the right place.
What’s your customer retention rate?
Before you can focus on improving customer retention, you must benchmark how you’re currently doing in this department. You might have a feeling about how you’re doing, but you need an objective measurement that takes the emotions out of it. And one of the best ways to do this is by measuring your customer retention rate.