Article published at Finance Magnates
This article was written by Charlotte Day, Creative Director at Contentworks.
The online brokerage industry is as competitive as ever. With so many platforms to choose from, customers have very little reason to remain loyal to one brand unless the services they are receiving are truly exceptional. But in an industry with very little unique selling propositions (USPs), differentiating yourself from the competition isn’t always easy.
Assuming you’ve done all the groundwork to actually land customers, your goal should be to never let them go. Your customer retention rate is a metric that reveals whether your marketing and client care efforts are boosting your business or bleeding dollars from your business.
It can be measured by looking at the number of clients you still have at the end of a period relative to the number you had when that period began.