Many companies gauge their performance by evaluating new client acquisitions or expanding their customer base. The larger the number of customers, the more successful they consider themselves a business. However, it is crucial to convert occasional consumers into devoted clients who consistently purchase your product or service since this is as important, if not more significant, for the success of your organisation.
What is customer retention?
Customer retention refers to a company’s capacity to convert purchasers into repeat customers, preventing them from purchasing from a rival. Sustaining long-term consumers is crucial for virtually every kind of organisation. Whether you are an e-commerce merchant aiming to maintain consumer engagement or a subscription-based company relying on customer retention, your number of loyal customers is crucial for your business’s success.
