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Acquiring new customers has always been quite a challenge, and it’s getting more and more expensive and time-consuming in the realities of modern competition. Meanwhile, the main profits for businesses often come from repeat purchases.
While the average customer retention rate across all industries hovers around 75.5%, businesses should strive for higher rates, as studies have shown that repeat customers spend significantly more — often three times as much — compared to one-time shoppers.
In this article, I want to share the key moments to consider when striving to retain and grow the customer base.
1. Customer experience
Improving customer experience can turn
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