Customer retention has the greatest effect on the amount of revenue a company receives. This means that the most pressing challenge for any subscription-based business is keeping their customers subscribed to their services. If you’re running an enterprise that follows the subscription business model, you should be aware of the best practices for keeping your customers.
There are several metrics that can be used for measuring customer retention. For a subscription-based business, the average customer lifetime value or ACLV is one of the most important metrics. What constitutes this metric, and how exactly is it calculated?
The average customer lifetime value is the average amount of revenue a company can get from each customer.…Continue reading