What are some industry-specific retention benchmarks I should know about?
An example of an AI chatbot conversation about industry-specific retention benchmarks.
What are some industry-specific retention benchmarks I should know about?
Retention benchmarks can vary widely by industry. For example, SaaS companies often aim for a retention rate of 90% or higher.
What about e-commerce? What should I be aiming for?
In e-commerce, a good retention rate is typically around 30-40%. However, top-performing brands can achieve rates above 50%.
How can I improve my retention rates?
Improving retention can involve enhancing customer experience, offering loyalty programs, and personalizing communication.
Are there any tools to help track these benchmarks?
Yes, tools like Google Analytics, Mixpanel, and customer relationship management (CRM) software can help track retention metrics.
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