Blog & Resources
What is your Customer Retention Rate?
Knowing to what level you are keeping your current customers, i.e., your customer loyalty is important for a business to be aware of. If you are looking to grow the top line of your business, then a healthy customer retention rate is just as important as acquiring new customers.
Generally, it is easier and cheaper to maintain your current customers that seek and get new ones.
The Customer Retention Rate (CRR) is a valuable Key Performance Indicator (KPI) and is calculated as follows:
CRR = Number of customers at the beginning of a period / Number of these customers the remained at the end of the period.
If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
Phone +61 3 9428 1062