Customer Retention

If you have customers, you care about churn and retention. According to recent research by Ivesp, it typically costs 5 times more to acquire a new customer vs retaining an existing customer, and increasing customer retention rates by 5% increases profits by 25% to 95%.

An effective retention strategy needs to deliver actionable answers to 3 key questions:

  • What are the changes we need to make to our business to reduce churn?
  • Which customers should we focus our retention efforts on?
  • What offers or incentives are most likely to be affective for each
    customer.

Learn more about DataSparQ’s intelligent retention solution here: DataSparQ retention

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Oli Bartlett