Tracking customer retention metrics is vital for understanding how well a business retains customers; it distinguishes between sustainable growth and constantly seeking new leads.
Customer retention metrics like repeat purchase rate and churn rate provide insights into customer loyalty; they allow businesses to focus on building stronger relationships.
Key Performance Indicators such as Lifetime Value and Net Promoter Score link customer happiness with retention, enabling more informed business decisions.
Monitoring customer churn rate is essential; a high churn rate indicates a loss of customer stickiness, which can hinder long-term growth.
#customer-retention #customer-metrics #business-strategy #key-performance-indicators #customer-loyalty
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