CRR

Customer Retention Rate

CRR stands for Customer Retention Rate, a key metric in sales and marketing used to measure the rate at which a company retains its customers over a given period. It is a crucial indicator of customer satisfaction, loyalty, and the effectiveness of a company’s relationship management strategies. The formula to calculate CRR is:

This formula provides the percentage of existing customers a business has retained, not accounting for new customer acquisition. A high CRR indicates that a company successfully keeps its customers satisfied and engaged, vital for sustainable growth and profitability. Strategies to improve CRR often include enhancing customer service, offering loyalty programs, and regularly engaging with customers to understand and meet their needs.

• Abbreviation: CRR