Categories: Product Development
In marketing, Retention rate is used to count customers and track customer activity irrespective of the number of transactions (or dollar value of those transactions) made by each customer. (Source: WikiPedia)
Definition of "Retention rate" by Chat GPT: Retention rate refers to the percentage of customers or employees who continue to stay with a company over a specific period of time. It is often used as a measure of customer or employee loyalty and satisfaction. A high retention rate indicates that customers or employees are happy with the company and are likely to continue their relationship with it.
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