Updated: May 2, 2020
Client retention. There, I said it.
Client retention is the most underappreciated number. Growth is the “oxygen” of any company. Companies and sales leaders spend a great deal of time and money trying to win that new client and most companies don’t even measure and report on client retention.
Does your company measure and report on client retention rates every month?
Client retention is the foundation of future growth. Just consider this: if you want to grow 15% year over year and your company has 90% client retention, you actually have to grow 27.7% to hit the 15% number!
Fact: a 2% improvement in client retention (from 90% to 92%) can have the same effect as reducing costs by 10% (and a lot less painful!) and a 5% improvement can improve pro