What does customer retention mean?
Customer retention stands for a brand’s ability to turn new clients into repeat buyers and not lose them to competitors. It involves actively engaging with existing customers regularly and providing excellent services. Through constant feedback and doubt-solving, a high rate of customer retention gets secured by businesses.
Benefits of customer retention:
- Makes cross-selling and upselling easy
- Boosts customer lifetime value
- Increases ROI
If you want to know how to re-engage past customers, check out this blog:
5 B2B Lead Nurturing Tactics To Re-Engage Past Customers