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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.
SUMMARY Users no longer follow a neat and organized path when interacting with products and services. The customer journey is much more complex than it used to be. Visitors use different platforms, often switching between native apps, mobile apps, and desktop browsing as they progress toward becoming clients. For instance, customers could begin on the…
As organizations increasingly rely on data in their business decisions, the challenges of ensuring data accuracy, consistency, and ethical collection are becoming more and more important. Along with understanding the audience’s needs, supporting collaboration between teams, and securing privacy compliance, these challenges have evolved into data collection and analytics priorities. Let’s dive into the third…
