When a business talks about analyzing success, it can be intimidating. However, once you get a handle on the right metrics and what benchmarks your customers expect, it turns into a simple process. Customer retention rate (CRR) is a great place to start. Simply put, CRR is the number of customers you manage to keep with respect to the number you had at the start of your period. It’s easy to calculate and crucial to understand in order to help your company stay strong and grow. If you know why customers are sticking with you, you can better optimize your strategies for future customers. Check out this infographic from Ghergich and Salesforce to help you calculate, benchmark and improve your customer retention rate.
How to Calculate and Improve Customer Retention Rate