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How to Build Customer Loyalty - Business News Daily
WebJun 7, 2024 · A good churn rate is 5% and the highest you’ll get away with is 20%. That translates to 1 in 20 and 1 in 5 members respectively that you can afford to lose each month. If you want to grow your membership, having to replace 20% of members with new ones every month just to maintain your current numbers isn’t sustainable. WebNov 26, 2024 · November 26, 2024. Customer retention plays a crucial role in the success and lasting sustainability of a business. When done right, it can also increase a company’s profits. The key to a high customer retention is to determine what’s causing customers to leave and then employing strategies that will build a loyal group of buyers who will ... loans off bank statments
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