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Top 5 Keys to Customer Retention

  • Top 5 Keys to Customer Retention

    by Mike Saldi


    Author: Mike SaldiCompanies sink or swim based on their ability to retain customers. A company with $10 million in revenue with a 10% churn rate needs to acquire $1 million of new business each year, just to avoid shrinking.


    The fact is that existing customers have greater lifetime value for your company: A 5% increase in customer retention can increase business profits anywhere between 25% and 125%, according to Gartner Group.


    Improve retention, and other facets of the business quickly begin to improve as well. So how do you unlock such value for your business? Here are the Top 5 Keys to Customer Retention that can help you increase revenue, fill up the sales pipeline, and improve performance.


    Read the full article at MarketingProfs

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