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Customer retention rate is the percentage of existing customers who are still customers after a given period. It can help in better understanding what makes customers stay with your company. You can also identify opportunities to improve customer service. This metric is calculated by taking the number of customers you have at the end of the period and removing the number of new customers acquired during that period. Then divide that number by the number of customers you started with.
Personally identifiable information (PII) and personal data are two classifications of data that often confuse organizations that collect, store and analyze such data. Both terms cover common ground, classifying information that could reveal an individual’s identity directly or indirectly. PII is used in the US, but no specific legal document defines it. The legal system…
First-party data is information a company collects directly from its customers through owned channels like websites, apps, transactions, and customer interactions. Unlike third-party data purchased from external sources, first-party data comes straight from your audience, making it more accurate, privacy-compliant, and valuable for personalized marketing. According to Acquia’s 2024 CX Trends Report, 93% of marketers…
