Customer attrition, also known as customer churn, is the percentage of customers who stop doing business with a company during a given period of time. It captures the money lost as a result of clients quitting services, canceling memberships, or moving to rival businesses.
For contact centers, preventing customer churn is crucial because it’s the foundation of long-term success. It protects income sources, but it also increases consumer satisfaction, builds brand loyalty, and boosts total profitability.
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