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Customer Retention Cost (CRC)
from CRM
Metrics type
Diagnostic
Units of measure
Money
Direction
Less - better
Check frequency
Monthly
Description
The average cost incurred to retain an existing customer, including expenses related to customer support, loyalty programs, and other efforts aimed at preventing customer churn.
Why it is important
Determining the customer retention cost is essential for evaluating expenses related to retaining existing customers.
This metric guides businesses in optimizing retention strategies, loyalty programs, and customer support efforts, impacting customer satisfaction and reducing churn, ultimately maximizing the return on retention investments and preserving revenue.
This metric guides businesses in optimizing retention strategies, loyalty programs, and customer support efforts, impacting customer satisfaction and reducing churn, ultimately maximizing the return on retention investments and preserving revenue.
Formula
Total Costs for Customer Retention / Number of Repeat Customers
Calculation example
If the total cost incurred for customer retention is $10,000, and there are 300 repeat customers,
CRC = $10,000 / 300 = $33.33
CRC = $10,000 / 300 = $33.33
Affected metrics
n/a
Affecting metrics
n/a
Connecting metrics
Repeat Customers
Marketing Costs
Marketing Costs
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Suggested slices for dashboards
by Retention Strategy
by Customer Support Channels
by Loyalty Program Participation
by Post-Purchase Engagement
by Product Recommendations
by Customer Support Channels
by Loyalty Program Participation
by Post-Purchase Engagement
by Product Recommendations
The revenue impact pathway
Available in JetMetrics Lite only
Questions to be Answered
1. How does the CRC vary between customers engaged in loyalty programs or subscription services compared to non-participants?
2. What impact do changes in customer support strategies or initiatives have on the CRC?
3. How does the CRC differ for customers in different age groups or demographic segments?
4. Are there specific customer segments or profiles associated with higher or lower CRC?
5. What impact does the effectiveness of customer feedback and satisfaction surveys have on the overall CRC?
6. How does the CRC change during major marketing campaigns or promotional periods aimed at customer retention?
7. Is there a correlation between the CRC and the user's engagement level or overall lifetime value on the platform?
2. What impact do changes in customer support strategies or initiatives have on the CRC?
3. How does the CRC differ for customers in different age groups or demographic segments?
4. Are there specific customer segments or profiles associated with higher or lower CRC?
5. What impact does the effectiveness of customer feedback and satisfaction surveys have on the overall CRC?
6. How does the CRC change during major marketing campaigns or promotional periods aimed at customer retention?
7. Is there a correlation between the CRC and the user's engagement level or overall lifetime value on the platform?
Possible causes of worsening
n/a
Tactics to improve this metric
Explore in JetMetrics Lite or Ask professionals in the Community
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