Customer Retention

Customer retention refers to the ability of a business to retain its existing customers over a period of time. It is a measure of how successful a business is at preventing customers from switching to competitors and encouraging them to make repeat purchases or continue using their product or service. This involves strategies and efforts aimed at keeping customers satisfied, engaged, and loyal to the brand, leading to repeat purchases and long-term relationships. By prioritizing customer retention, businesses can ensure long-term loyalty, reduce churn, and maintain stable revenue streams.

Other Glossary Items