5 Best Strategies For Customer Retention In 2022

In an overly-ambitious market, businesses are losing customers all the time. Ensuring customer retention in this market is like striking hidden treasure. According to a study by Accenture, 66% of US customers tend to spend more on the brands they have been loyal to. Out of which, 12% publicly defend the brand on their social media while the remaining will actively recommend it to their friends and family. That is precisely how impactful customer retention can prove to be.

There is a million-dollar effort implemented across industries in lead generation and customer acquisition. To help businesses justify this process, they need to retain their customers. Every time a company loses a customer, they waste approximately seven times the resources that were used in the first place, to convert them.