Uncover retention benchmarks gathered from across 1000 European Retail, Fintech, and OTT brands
Access a free customer retention evaluation template to assess where you stand
Dive into retention and churn trends across customer actions like post-install, onboarding, free trial ending, and more
Discover a four-step actionable plan and a toolkit to improve retention and growth metrics
We observed that brands are still facing a huge challenge retaining customers, even during the initial phase of engagement.
A majority of 22.45% of the marketers surveyed say their average retention rate falls between 31-40%, with only 2.04% stating having a retention rate of 80% and above.
Here's an actionable 4-step plan to help to increase customer retention rates and other retention KPIs.
Who is this report for and who should read it?
If you are a customer-centric CXO, VP, Analyst, and Manager from Marketing, Product, CRM, and Growth teams from Retail, Fintech or OTT brands, and you are responsible for driving engagement and retention, this handbook is built for you!
This handbook will help you provide you with benchmarks around customer retention rates, churn rate, revenue churn, actions leading to the highest churn and strategies to help you ensure sustainable growth.
Why is customer retention important?
Even if your brand’s latest, most creative campaign got you a wave of new customers, some brands miss the mark on delivering value early on, post-sign-up, wherein they end up losing their newly acquired customers even before they get a chance to demonstrate what sets the brand apart.
Over a quarter (27%) of U.K. consumers have switched away from a brand they previously liked to buy from, with many citing a competitor having better promotions (21%), or buying options (26%), because they didn’t feel valued as a customer (30%).
Customer retention, in addition to being an indication of how effectively your acquisition strategy is working also helps you determine how successful your brand is at keeping existing customers satisfied.
When is the right time to think about customer retention?
A common myth about retention is that brands should only look at it once they reach a certain level of customer growth or success.
That is rarely true. Once you have a sizeable number of customers returning to use your offering regularly, you have enough insights to optimise your customer’s journey and experience to work on retention.
