Customer Retention Rate (CRR) displays the number of retained customers. This value shows how satisfied your customers are with your products or services, how your business project is developing. Customer Retention Rate can be measured weekly, monthly, quarterly, or annually depending on your business.
Below is the formula for calculating CRR:
Customer Retention Rate = ((E-N)/S)*100
E - number of customers at end of period
N - number of new customers acquired during period
S - number of customers at start of period
This estimation is very important because the cost of acquiring new customers 5-7 times more than retaining one.
Below is the formula for calculating CRR:
Customer Retention Rate = ((E-N)/S)*100
E - number of customers at end of period
N - number of new customers acquired during period
S - number of customers at start of period
This estimation is very important because the cost of acquiring new customers 5-7 times more than retaining one.
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