What is customer retention?

According to Gartner, 80% of a company’s future revenue will come from just 20% of their existing customers! Customers today have all the choice, with multiple options available choices have reached an all-time high while the attention span has dipped to an all-time low. This means brands need to take a more customer-centric approach in order to keep their loyal customers interested. Customers now demand a more engaging, personalized experience and companies must respond to nurture them into advocates. Customer retention plays a key role in driving brand loyalty and profitability. Let’s delve in to understand about customer retention and the strategies to get started.