Customer Retention

Definition

Customer retention is the process of ensuring customers continue to engage with your products and services and continue to buy and use those products and services.

There are many factors that contribute to retention, such as providing a good customer experience, embracing innovation in your products and services, and ensuring that you maintain strong value.

As most marketers know, it is expensive to acquire new customers, so building a strategy around increasing the overall customer lifetime value (CLV) of each customer can yield superior results.

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