The Importance of Customer Retention
Posted: Mon Jan 20, 2025 8:12 am
The importance of customer retention is great in modern business. Every day there are more and more competitors. They use all sorts of "tricks" to attract customers. Naturally, people will choose the most favorable conditions for themselves.
Nowadays, it is quite easy for customers to get a discount, payment by installments, free delivery, and all because if one company does not provide it, another will be happy to offer it. It is especially difficult for those entrepreneurs whose profit depends on one-time sales. There is practically no chance that the client will choose their product among many others.
Statistics have been published on the importance of customer retention:
the lower the company's customer churn, the more willing investors are to work with it, as they see stability and reliability;
The Importance of Customer Retention
to attract a new client you need skype database to spend 5-10 times more financial resources than to retain the current one;
a company's profit can be increased by 80% if you work hard and reduce customer churn by 5-10%;
With increasing competition, it is much more profitable to retain an old client than to attract a new one.
It can be concluded that the business will become many times more successful and will gain stability in the market if the management learns to retain customers.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
We have prepared all the documents and templates with formulas for you. And yes, it is FREE:
Download documents for free
Already
Nowadays, it is quite easy for customers to get a discount, payment by installments, free delivery, and all because if one company does not provide it, another will be happy to offer it. It is especially difficult for those entrepreneurs whose profit depends on one-time sales. There is practically no chance that the client will choose their product among many others.
Statistics have been published on the importance of customer retention:
the lower the company's customer churn, the more willing investors are to work with it, as they see stability and reliability;
The Importance of Customer Retention
to attract a new client you need skype database to spend 5-10 times more financial resources than to retain the current one;
a company's profit can be increased by 80% if you work hard and reduce customer churn by 5-10%;
With increasing competition, it is much more profitable to retain an old client than to attract a new one.
It can be concluded that the business will become many times more successful and will gain stability in the market if the management learns to retain customers.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
We have prepared all the documents and templates with formulas for you. And yes, it is FREE:
Download documents for free
Already