Understanding the difference between lapsed clients and client retention is crucial for businesses aiming to maintain and expand their customer base. Lapsed clients represent lost opportunities, while client retention indicates overall business health and customer satisfaction. Although related, these metrics measure different aspects of client engagement. In this article, we will explore their differences and significance.
Things to know:
- For details on our lapsed client report, learn more here
- For details on our client retention report, learn more here
- Reducing lapsed clients can improve client retention.
The table will highlight the key differences between lapsed clients and client retention
| Feature | Lapsed Clients | Client Retention |
|---|---|---|
| Definition | Clients who have not returned to the business within a set timeframe. These clients were once active but have not booked or visited in a while. | Client retention measures how well a business maintains its existing client base over time. High retention indicates strong client loyalty, while low retention suggests clients are not returning as frequently. |
| Focus | Identifying and re-engaging inactive clients. | Encouraging ongoing client loyalty and repeat visits. |
| Measurement | Number of clients who have not visited the business within a set timeframe | The percentage of returning clients after their initial visit over a specific period. |
| Goal | Reduce the number of lapsed clients by re-enaging them.
| Increase the percentage of retained clients to sustain business growth.
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Related Articles:
- New Vs. Existing Client Appointment/Class Logic
- Lapsed Client Report
- Client Type Report
- Duplicate Clients Report
- Appointment History Report
- Client Revenue Report
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