Customer Retention

What is Customer Retention?

Customer retention is the ability of a company to keep its customers over time by delivering value, satisfaction, and fostering long-term relationships. It involves strategies that encourage repeat business, reduce churn, and enhance customer loyalty. High customer retention rates indicate strong brand loyalty and customer satisfaction.

Strategies for Improving Customer Retention

• Personalized Customer Service: Tailoring support and interactions to individual customer needs.
• Loyalty Programs: Offering rewards for repeat purchases or long-term engagement.
• Regular Communication: Engaging customers with newsletters, updates, and special offers.

Related Terms and Concepts

Churn rate, customer satisfaction, lifetime value (LTV), user engagement.