Calculating Customer Retention Rate shows the percentage of customers who continue using your product over time. It's essential for assessing customer loyalty and the effectiveness of your retention efforts.
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How to Calculate Customer Retention Rate?
Customer Retention Rate calculation involves subtracting the number of new customers acquired during a period from the total number of customers at the end of the period, then dividing by the number of customers at the beginning of the period, and multiplying by 100 to get a percentage. For example, if you start with 1,000 customers, end with 1,100, and acquire 200 new customers, your retention rate would be ((1,100 - 200) / 1,000) * 100 = 90%.
Customer Retention Rate Calculation
Customer Retention Rate formula
Customer Retention Rate = ((Number of Customers at End of Period - Number of New Customers Acquired During Period) / Total Number of Customers at Start of Period) x 100
