Retention Rate

Meaning & Definition

The proportion of consumers that continue to pay for a product after a certain period of time is referred to as the retention rate. This is an important success statistic for subscription-based businesses, such as SaaS software providers, and firms whose consumers purchase the same items from them on a regular basis. It makes a lot of natural sense to keep your current consumers using your product. To summarise, having a high retention rate is a very efficient and advantageous strategy to build the firm. Measuring your client retention rate enables you to measure your performance and find and correct areas for development.

Share This Post

More from Blogs