How Do I Calculate My Customer Retention Rate?
Different industries may experience varying degrees of retention rates. B2B Resellers typically see annual churn rates in the 6% range; other industries with higher-priced products (which require a higher level of investment from the customer) may see lower annual churn rates. It’s also critical to pay attention to monthly versus annual churn rates. A 5% […]
What Can I Do to Increase My Retention Rate?
Enhancing customer retention is not always a simple process. It requires time and diligence to identify the issues impairing your retention effort. You have to be patient and perseverant to implement the necessary changes. We listed some strategies that may help increase your customer retention rate and overall business success. 1. Assess that They are […]