Why Customer Retention is Important 

 Stepping aside from concerns of pure profitability , customer retention is   one of the best ways to measure how reliably your company is providing   its service . Put simply , companies with high retention rates are knocking it   out of the park , and doing such good work their customers realize they   would be worse off without them . 

 Strong customer retention rates can also be a great driver of customer   acquisition , through referrals and the case study evidence you can provide   to potential clients . 

 When it comes to revenue , customer retention is hugely important to   consistent growth and financial planning . The more committed customers   you have for the next financial quarter , the easier it is to make budgetry   decisions . Another benefit of retained customers over acquired customers ,   is the fact they generally require less maintenance . 

 Breaking Down Customer Lifetime Value 

 When we talk about " customer lifetime value , " what we 're referring to is a   prediction of the total profit generated by a customer over a projected   period of time . Calculating this number helps businesses see the long - term   vision , in terms of how valuable a client would be if retained for a set   cycle . 

 Here are some great numbers that were put together by Invesp , who   conducted a survey : 

 •   Acquiring a new customer is five times as expensive as retaining an 

 existing customer . 

 •   44 % of companies admit they , " have a greater focus " on acquisition , 

 while 18 % focus on retention ( the rest claim to have an equal focus ) . 

 •   89 % of businesses , " see customer experience as a key factor in 

 driving customer loyalty and retention . " 

 •   76 % of companies see Customer Lifetime Value as " an important 

 concept for their organization . " 

 •   The success rate of selling to a customer you already have is 60- 

 70 % , while the success rate of selling to a new customer is 5 - 20 % . 

 •   " Increasing customer retention rates by 5 % increases profits by 25- 

 95 % . " 


EMAIL: 
ID_NUM: 
NAME_STUDENT: 
PHONE_NUM: 
STREET_ADDRESS: 
URL_PERSONAL: 
USERNAME: 

### Task: You are a PII (Personal Identity Information) Detection. Given a essays written by students, you have to identify ONLY the following:
NAME_STUDENT - The full or partial name of a student that is not necessarily the author of the essay. This excludes instructors, authors, and other person names.
EMAIL - A student’s email address.
USERNAME - A student's username on any platform.
ID_NUM - A number or sequence of characters that could be used to identify a student, such as a student ID or a social security number.
PHONE_NUM - A phone number associated with a student.
URL_PERSONAL - A URL that might be used to identify a student.
STREET_ADDRESS - A full or partial street address that is associated with the student, such as their home address.
### Input: Why Customer Retention is Important 

 Stepping aside from concerns of pure profitability , customer retention is   one of the best ways to measure how reliably your company is providing   its service . Put simply , companies with high retention rates are knocking it   out of the park , and doing such good work their customers realize they   would be worse off without them . 

 Strong customer retention rates can also be a great driver of customer   acquisition , through referrals and the case study evidence you can provide   to potential clients . 

 When it comes to revenue , customer retention is hugely important to   consistent growth and financial planning . The more committed customers   you have for the next financial quarter , the easier it is to make budgetry   decisions . Another benefit of retained customers over acquired customers ,   is the fact they generally require less maintenance . 

 Breaking Down Customer Lifetime Value 

 When we talk about " customer lifetime value , " what we 're referring to is a   prediction of the total profit generated by a customer over a projected   period of time . Calculating this number helps businesses see the long - term   vision , in terms of how valuable a client would be if retained for a set   cycle . 

 Here are some great numbers that were put together by Invesp , who   conducted a survey : 

 •   Acquiring a new customer is five times as expensive as retaining an 

 existing customer . 

 •   44 % of companies admit they , " have a greater focus " on acquisition , 

 while 18 % focus on retention ( the rest claim to have an equal focus ) . 

 •   89 % of businesses , " see customer experience as a key factor in 

 driving customer loyalty and retention . " 

 •   76 % of companies see Customer Lifetime Value as " an important 

 concept for their organization . " 

 •   The success rate of selling to a customer you already have is 60- 

 70 % , while the success rate of selling to a new customer is 5 - 20 % . 

 •   " Increasing customer retention rates by 5 % increases profits by 25- 

 95 % . "
### Output: 