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State of Customer Retention 2019 – Building and Retaining Customer Loyalty
Customer retention has received a lot of attention from marketers in the recent past as a viable and profitable strategy for growth. Studies have confirmed that retaining and growing existing customers is far less expensive than acquiring new ones.
We undertook our own research to see the extent of the efforts made by marketers in retaining their customers, what practices they employed, whether their efforts have been profitable and what challenges they faced in adopting such practices.