Customer retention: meaning, definitions and examples
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customer retention
[ ˈkʌstəmər rɪˈtɛnʃən ]
business strategy
Customer retention refers to the activities and actions companies take to retain customers and prevent them from switching to competitors. It involves building long-term relationships with customers by providing excellent service, value, and experiences.
Synonyms
client retention, customer loyalty, customer preservation
Examples of usage
- Improving customer retention can lead to increased revenue and profitability.
- Offering loyalty programs is a common strategy for customer retention.
Translations
Translations of the word "customer retention" in other languages:
🇵🇹 retenção de clientes
🇮🇳 ग्राहक प्रतिधारण
🇩🇪 Kundenbindung
🇮🇩 retensi pelanggan
🇺🇦 утримання клієнтів
🇵🇱 utrzymanie klienta
🇯🇵 顧客維持
🇫🇷 fidélisation de la clientèle
🇪🇸 retención de clientes
🇹🇷 müşteri tutma
🇰🇷 고객 유지
🇸🇦 الاحتفاظ بالعملاء
🇨🇿 udržení zákazníků
🇸🇰 udržanie zákazníkov
🇨🇳 客户保留
🇸🇮 zadrževanje strank
🇮🇸 viðhalds viðskiptavina
🇰🇿 клиенттерді ұстап тұру
🇬🇪 მომხმარებელთა შენარჩუნება
🇦🇿 müştəri saxlama
🇲🇽 retención de clientes
Word origin
The concept of customer retention has gained significant importance in the business world with the rise of competition and globalization. Companies have realized that retaining existing customers is often more cost-effective than acquiring new ones. By focusing on customer retention, businesses can create a loyal customer base that contributes to long-term success.