What is customer retention?

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4 Pillars of Customer Retention and Expansion
Account Activation
Client Life Cycle and Updating
Customer Health and Reduced Customer Churn
Upselling and cross-selling
Why Customer Retention Matters
A strong customer retention strategy helps reduce the cost of growth by turning customers into advocates and predictably providing opportunities to upgrade and expand.

Reducing customer acquisition costs
Attracting new customers is often significantly romania mobile database more expensive than retaining existing ones. By focusing on their customer retention plan, companies can devote more resources to improving their product or service and enhancing their reputation.

More predictable income
A retained customer is more likely to increase their spending over time through upselling, cross-selling, and contract renewals . This predictable revenue stream provides a stable foundation for business growth and reduces teams' reliance on acquiring new customers.