What's the key factor in growing a B2B business without acquiring new customers? Customer retention. After all, the more revenue you generate from existing customers, the less pressure you can put on your customer acquisition efforts. In other words, if your existing customers continue to buy, you have less pressure to acquire new ones.
The challenge? Without customer retention data, you won’t know if you’re doing a good job retaining your customers, you won’t know if you’re losing too many high-value accounts, etc. If you don’t have this information and you don’t know how to get it, you won’t be able to make the business decisions you need for your Customer Success strategy.
How to Measure Customer Retention
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1. Decide what success means to you.
First, you need to figure out what success means indonesia mobile database for your business. This will vary depending on your size, industry, or previous market performance.
So in order to improve something, you need to determine what needs to be improved and how to improve it. Some examples of questions you should ask yourself include:
Is the customer lifecycle too short?
Are too many customers churned?
Does it take long for them to buy again?
Once you identify your problem, you will understand what success means to you.