customer retention

Customer retention is a term used in customer relationship management( CRM).

The goal of a company within the framework of the CRM concept is to actively bind a customer to the company once he has been acquired. This customer retention is systematically pursued by analyzing the customer's needs and satisfying them in the best possible way before, during and after the purchase. Ideally, this leads to the stages of customer satisfaction, customer loyalty and, in the best case, customer enthusiasm. The result of a successfully applied CRM concept is long-lasting customer retention. Customer lifetime value ( CLV) can be calculated as a key figure.