Many small businesses are struggling because of the unprecedented effects of the coronavirus pandemic on the economy. As a CPA, your guidance is critical to help small business clients navigate these current challenges and enable successes.
One of the most valuable factors in a business’s long-term vitality is customer retention. For instance, DocuSign’s annual sales grew more than 30%, due in part to their high level of repeat customers.
Small and medium businesses (SMBs) can also benefit from obsessively tracking and learning from customer and revenue retention trends. That makes retention analyses an ideal addition to your advisory services — and you can do it using the same accounting data you’re already managing for SMB clients.