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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.
Banks must ensure that their digital platforms are user-friendly, offering features like easy account management, instant transactions, integrated banking services in mobile apps, responsive customer service through chatbots or other digital tools, and more. Enhancing the overall digital experience can significantly reduce the likelihood of customers switching to competitors.
Alternatives to client-side tracking, such as server-side tracking, are becoming increasingly important in online marketing, especially as third-party cookies are gradually being phased out. Although Google has recently canceled its planned deprecation of third-party cookies, many browsers like Safari have already been blocking them since 2003. As a result, businesses seeking reliable and actionable information…
