Definition
Customer retention is the ability to keep existing customers and prevent them from switching to competitors. It is how you talk about finding, converting, or keeping customers without waving your hands. Name it clearly, then let the next decision — a hire, a price, a test, or a pass — follow from that meaning.
In the room
How the word shows up in a real conversation.
You know Customer retention is doing work when it changes a weekly choice — price, hire, channel, or kill. The working definition: Ability to keep existing customers and prevent them from switching to competitors.
Common mistake
Using Customer retention as a label instead of a fact. If you cannot point to the evidence — a number, a customer, or a written assumption — you are using the word as jargon.
See also
Customer acquisition
Process of gaining new customers through marketing and sales efforts.
Read definition →
Customer lifetime value (CLV)
Predicted revenue a customer will generate over their entire relationship.
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Customer loyalty
Customer's commitment to repeatedly purchase from a particular brand.
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Customer Relationship Management (CRM)
Technology and strategy for managing customer interactions and data.
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