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Customer Retention Hacks | Startup Edition
Manage episode 445912578 series 3605659
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This episode is about customer retention as a powerful, often overlooked growth hack that can significantly increase profitability. It highlights that acquiring new customers is far more expensive than retaining existing ones and that focusing on customer retention can lead to a 25-95% increase in profits.
This episode explores critical metrics related to customer retention, such as churn rate, CLTV, and renewal rate. It offers actionable strategies to improve retention, including modifying customer acquisition incentives, reallocating marketing investments, and investing in customer experience.
This episode concludes by prioritizing customer retention to ensure long-term profitability and sustainable business growth.
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