Establishing and growing a loyal base of customers is essential to the success of every small business. Customer attrition and retention metrics can help entrepreneurs identify best business practices that deliver profitable results. Attrition and retention rates combined with data from regular customer feedback is significantly useful when analyzing customer trends, challenges, and motivations that can have a deciding impact on the future of a small business. The following paper covers the definitions of customer attrition and retention, ways to evaluate these figures, and strategies for retaining customers.
Jul 17, 2019
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