CRC
Customer Retention Cost
The amount of money a company has to spend in a given period to retain an existing customer. Retention costs include customer support, billing, promotional incentives, etc. [1]
Acquiring a new customer costs 3-6X the cost to retain one. The ideal is to lower the retention cost. [2]
[1] Wikipedia. Retrieved May 21, 2021, from https://en.wikipedia.org/wiki/Customer_lifetime_value
[2] Totango Customer Retention Cost Report, https://blog.totango.com/wp-content/uploads/2019/03/customer-retention-cost-report.pdf
[3] Retrieved May 21, 2021, from https://www.clv-calculator.com/customer-costs/retention-costs-clv/retention-cost-formula/
[4] Customer Retention Cost (CRC): All You Need to Know - SmartKarrot Blog. Retrieved May 21, 2021, from https://www.smartkarrot.com/resources/blog/customer-retention-cost/