By now, you know how important customer retention can be to the future of your business. You know that acquiring new customers costs five times as much as retaining the customers you currently have. You've probably seen research suggesting that improving your customer churn by just 5% can produce a profit increase anywhere from 25-125%. Do you also know that 80% of your future revenue is likely to come from just 20% of your current customers?
The problem with customer retention is that it isn't as simple as "are my customers satisfied with my product?" Just as there are lots of reasons people buy from you, there are also lots of reasons people remain your customers.