You also want your metrics to be accurate, so check the numbers for any surprises and see what conclusions you can draw over time.
Whether you hit your goals or miss them, you don’t stop there. Keep adjusting your goals as you scale and grow your business to accommodate any changes in your business experience and keep your customers coming back or even advocating for your business.
Now we know how to measure customer retention, but let’s first take a step back and define what customer metrics are.
What are customer retention metrics?
Customer retention metrics are factors or variables used indonesia mobile database to measure the likelihood of retaining and attracting customers to your business. These units of measurement are used in various formulas created to determine the performance of business operations for a given period.
Why are customer retention metrics important?
The more customers you retain, the more recurring revenue you can generate, or the more upsells and cross-sells you can get later. Additionally, customers who stay with you are satisfied with your products and services, increasing the likelihood that they will refer you more customers.
Marketing, sales, customer service, and even product management teams can all benefit from customer retention data. This information helps each team fine-tune their contribution to the customer journey and create a more delightful experience for your user base.