Announcing!
Take the first annual State of Customer Self Service survey and share your expertise.
Take the survey
Back to Glossary

Customer Retention

Customer retention is the strategic initiative businesses undertake to foster and sustain existing customer relationships over time. It focuses on building long-term loyalty and satisfaction. This involves understanding customer needs, preferences and providing personalized experiences. The tangible impact of customer retention is often seen in loyalty programs and personalized product recommendations tailored to individual customer profiles. 

By prioritizing customer satisfaction and building lasting relationships, businesses retain existing customers and transform them into brand advocates, actively contributing to reducing customer churn. 

Providing fast and easy ways for customers to solve their own problems through Customer Self-Service is a vital part of Customer Retention. 

Links:

Customer Experience and Long-term Value (LTV)

20 Customer Experience Metrics You Should Be Tracking


Further Reads

Create great content together

Write, review, translate, and publish all from one system. Heretto is the only ContentOps platform that allows multiple authors to work together at the same time.