Measure how well you retain customers and the financial impact of improving retention.
Acquiring a new customer costs 5-25x more than retaining an existing one. A 5% increase in retention can increase profits by 25-95% (Harvard Business Review).
| Industry | Avg Retention |
|---|---|
| Media/Streaming | 84% |
| SaaS | 85-90% |
| Banking | 75-89% |
| Retail | 63% |
| Hospitality | 55% |