Increasing customer retention is one of the most effective ways to improve your company's return on investment (ROI). When you invest in customer retention strategies, you substantially cut down on your expenses.
Consider this statistic: Every client you lose and replace costs your company 10 times more than retaining that client would have cost.
That means a data-driven customer retention program can directly affect your ROI. But how do you increase customer retention? Keep reading for a deeper dive into customer retention strategies and examples you can use to make your business more cost-efficient.