Definition of Customer retention:
An assessment of the product or service quality provided by a business that measures how loyal its customers are. Customer retention statistics are typically expressed as a percentage of long term clients, and they are important to a business since satisfied retained customers tend to spend more, cost less and make valuable references to new potential customers.
How to use Customer retention in a sentence?
- Customer retention can be prevented, by showing just a little more attention to your customers, a customer appreciation day never hurts either.
- Our customer retention measurements were great and we had a lot of loyal and amazing customers that loved our store.
- In the old days, IBMS customer retention wasnt so much because of their quality products, but rather the airtight contracts their legion of lawyers crafted.
Meaning of Customer retention & Customer retention Definition