In this article, we will answer the following questions

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It is clear that the data on this topic is not precise, but the point remains. Customer retention is cheaper, more advantageous and in many ways easier than acquiring new customers.


What is customer retention?
How is customer retention rate calculated?
What are the most effective strategies for customer retention?
Which apps help retention?
So what are you waiting for? Keep reading now!

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Customer retention: definition
what

Customer retention is the process of turning one-time shoppers into repeat customers.

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The word “retention” comes from retain, meaning to retain, to maintain. In practice, it is another way of saying loyalty.

So, the goal of customer retention is to keep existing customers .

The goals and methods of customer retention vary by industry: a company selling high-end software will use customer retention as a marketing strategy differently than an ecommerce store .

However, what all sectors have in common is the idea of ​​providing a level of quality and service that makes customers want to continue shopping.

Let’s dive into some of the customer retention strategies iraq email list that are designed for ecommerce store owners like you.

These customer relationship improvement strategies will give your customers the incentive, opportunity, and desire to return to your store for another purchase.

Why is customer retention important?
Besides the fact that it is more expensive to acquire new customers than to retain existing ones, there are many other reasons why customer retention is important.

Returning customers are 50% more likely to buy from you than new customers and tend to spend about 33% more. So not only is customer retention cheaper, it’s also more profitable in the long run.

Loyal customers can also help reduce your marketing costs . Sure, happy customers are repeat customers, but they are also the ones who tell their family and friends about you. Word of mouth increases sales up to five times more than paid advertising.

The trust you gain from your satisfied customers will increase your sales, decrease your advertising costs, and save you money.

Your goal is to have real, organic growth that guarantees future revenue in the long term.

Customer Retention: The Key Benefits
Here is a quick summary of the benefits you can get by increasing your customer retention rate:

According to Harvard, a 5% increase in customer retention rate will increase profits by 25-95%.