When it comes to growing a small business, many leaders and marketers believe that obtaining new customers is the key to success. While it’s true that generating new leads and securing sales is a critical part of your growth, there are other metrics worth keeping in mind.
Today, I want to talk about why you should start focusing on your retention rate. Customer retention is a company’s ability to keep existing customers returning for repeat orders over a specified time.
Repeat customers are more likely to trust your brand, place larger orders and tell their friends about the positive experiences they had on your site. If you use this line of thinking, it’s clear that you’re bound to connect with new leads and secure more sales in the process of retaining existing users.