How can I measure customer retention effectively?
An example of an AI chatbot conversation about measuring customer retention metrics.
How can I measure customer retention effectively?
You can measure customer retention by tracking metrics like repeat purchase rate, churn rate, and customer lifetime value.
What tools can I use to track these metrics?
Tools like Google Analytics, Mixpanel, and customer relationship management (CRM) software can help you track these metrics.
What is a good retention rate to aim for?
A good retention rate varies by industry, but generally, a rate above 75% is considered strong.
How often should I review my retention metrics?
It's best to review your retention metrics regularly, such as monthly or quarterly, to identify trends and make adjustments.
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