The main difference between a business that has grown sustainably over the years and one that died out like a flame, is the ability to retain customers. What the industry likes to refer to as, Customer Lifetime Value (CLV). The things your business does to retain the customer might add the smallest of increases in CLV to the largest of gains in the long term. But this number is directly affected by the customer churn rate.
And if your churn rate is higher than 10%, even the new business coming in is not going to help you grow. So here are 8 tried and tested customer retention strategies that will help you reduce the churn rate.