This question is about customer retention statistics.

How much does improving customer retention by 5% increase profits?

By Zippia Team - Jun. 29, 2022

Improving customer retention by 5% increases profits by 25-95%. This means that if you convince just 5% more of your customers to keep purchasing from your company, you could see an increase of 25-95% in profits.

There are several factors that cause this. One is that it costs six to seven times more to acquire a new customer than it does to retain an existing one, which means an increase in customer retention means lower costs for the same amount of revenue.

In addition, happy, loyal customers are more likely to refer your brand to others, which cuts down even more on your work of acquiring customers.

How much does improving customer retention by 5% increase profits?

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