Q: Do you also have any recommendations for the percent of new customers that should be acquired annually?
A: LERN benchmarks recommend that your repeat (retention from one term to the next) be at least 50%. This would mean that about half your customers in any given year could be new customers. If your retention rate is greater than 50% then in order to maintain at a stable level, you would need fewer new customers.
Of course, your goal should be to retain as many customers as possible and to generate as many new customers as possible. LERN's retention rate is about 80%. In order to grow, your goal would be to maintain as many repeat customers as you can and to have as high a repeat rate as possible as well as to generate new customers at a rate higher than the rate of non-repeat customers.
Questions
New Customer Benchmarks
Jun 1, 2018 12:38:57 AM
by
Jordan Kivley
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