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How to retain customers on your Shopify store | by Engati | Oct, 2021
Most companies focus more on acquisition than on retention. For a lot of them, that’s a mistake. Unless you’re just starting out, you should focus on retaining existing customers.Various studies have shown that retaining customers could be anywhere from 5 to 25 times cheaper than acquiring new customers. To make this sweeter, customer retention actually helps you with customer acquisition since loyal customers are 4 times more likely than new customers to refer you to their friends and family. These loyal customers are also 7 times more likely to try your new offerings.There are many metrics that you could track to measure customer retention. Here are the most important ones:1. Repeat purchase rateThis refers to the percentage of customers who made more than one purchase from your ...
