Glossary > Customer Retention
Customer Retention
Customer retention is the process of increasing the odds that a customer will remain loyal to your business.
Retention is an important part of customer relationship management (CRM). It helps ensure that a company’s customers continue to use their products and services, which in turn helps the company grow sales and market share.
Retaining customers helps keep your company from suffering from high costs associated with acquiring new customers, such as advertising and marketing expenses. It also reduces expenses related to churn — when customers stop using your product or service.
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Similar Terms:
Annual Recurring Revenue (ARR)
Churn Rate
Customer Churn
Monthly Recurring Revenue (MRR)
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