Customer retention refers to a business's capacity to convert customers into repeat buyers and keep them from switching to a competitor. In addition, it tells whether your product and service quality satisfy your current clients. Most subscription-based businesses and service providers rely on customer retention strategies.

Coca-Cola has one of the strongest customer retention strategies, even though it was founded nearly 140 years ago. From music videos to placing their trademark red on everything, Coca-Cola has become a household name in the beverage industry.