Calculating Customer Retention Rates

August 10, 2020 // Shep Hyken

It’s important to get a customer…but it’s also important for your business to keep the customers you get, so that they continue doing business with you and coming back again and again! So do you know what your customer retention rates are? The good news: I’ve got a way for you to figure it out! The bad news: we have to do a little math. Watch this week’s video for a discussion of what you need to know to find your customer retention rate, and what you can do to keep as close to 100% as possible!

Shep Hyken

Shep Hyken is the Lecturer of Customer Experience for the Tarkenton Certificate in Entrepreneurship and the Chief Amazement Officer of Shepard Presentations. He is a New York Times and Wall Street Journal bestselling author and has been inducted into the National Speakers Association Hall of Fame for lifetime achievement in the speaking profession. Shep works with companies and organizations who want to build loyal relationships with their customers and employees. For more articles on customer service and business go to hyken.com.