Retention Customer Quotes

Two things happen when your objectives are too broad—you don’t achieve the right results and you lose a lot of your resources. You want to avoid both of those.

If your objectives are too broad, they can dilute your project.

Discovering a cure for a disease is one thing, but making that cure available to everyone so it can actually be used to eradicate the problem is another thing.

When you send out a feedback form to your customers and they share their opinions with you, don’t just ignore them. It’s time for you to make a decision based on what your customers have just shared with you.

If the research is done for brand awareness and the results don't show any rosy picture, then maybe you want to share those results with your marketing head who can include more brand awareness strategies in her marketing plan.

I often see teams that maniacally focus on their metrics around customer acquisition and retention. This usually works well for customer acquisition, but not so well for retention. Why? For many products, metrics often describe the customer acquisition goal in enough detail to provide sufficient management guidance. In contrast, the metrics for customer retention do not provide enough color to be a complete management tool. As a result, many young companies overemphasize retention metrics and do not spend enough time going deep enough on the actual user experience. This generally results in a frantic numbers chase that does not end in a great product.

word of mouth. However, before customer retention, we need to think about customer acquisition (AKA marketing). The most successful entrepreneurs always start with marketing.

durability of customer relationships. Invest money in customer retention, because it’s a small fraction of the cost of customer acquisition.

It's okay to have a faulty product, it's not okay to have a faulty customer service. We cannot control engineering issues or weather, but we can control how we serve our guests.

It was the kind of thing brands had started posting recently, as if they were moral entities instead of capitalist enterprises, as if they had values beyond customer retention and profit margin. We’d come to expect this from them—they were now our legislators, our educators, and, most importantly, our friends. As people began to think of themselves more and more as brands, brands started to feel more and more like people.

Whataboutism does not work with the police, judges, or our mothers. If you work in customer service, do not try this. If you work for an airline, when a customer comes to you complaining that the airline has lost his family's luggage, it will not lead to job retention if you say, as a representative of the airline, that the other airlines lose luggage too.

What's important to remember is that every customer interaction should be treated like a first impression. Until your on-demand customer becomes a loyal follower, he's probably already forgotten what his last touch was, so you'd better wow him or her this time. Don't skimp and don't cut corners when it comes to the external touches your brand makes. From experience I can tell you that you'll pay a much bigger price in customer retention if you go cheap when it comes to customer outreach and service.

If you estimate that the wage of the average store employee is $18,000 and that the cost of finding, hiring and training each new employee is 1.5 times his salary, then the total cost to the company for the different levels of retention between the two groups is $18,000 x 1.5 x 1,000 = $27,000,000. And that’s just the hard cost. The drain of experienced employees who have developed valuable relationships with their customers and their colleagues is harder to measure but is just as significant a loss.

The fundamental KPI for stickiness is customer retention. Churn rates and usage frequency are other important metrics to track. Long-term stickiness often comes from the value users create for themselves as they use the service.

I regularly see good people who excel at many aspects of selling (relationship management, customer service, problem solving, or client retention) dramatically underperform when it comes to acquiring net new business.

Nir elaborates in this post: TriggerThe trigger is the actuator of a behavior — the spark plug in the engine. Triggers come in two types: external and internal. Habit-forming technologies start by alerting users with external triggers like an email, a link on a web site, or the app icon on a phone. ActionAfter the trigger comes the intended action. Here, companies leverage two pulleys of human behavior – motivation and ability. This phase of the Hook draws upon the art and science of usability design to ensure that the user acts the way the designer intends. Variable RewardVariable schedules of reward are one of the most powerful tools that companies use to hook users. Research shows that levels of dopamine surge when the brain is expecting a reward. Introducing variability multiplies the effect, creating a frenzied hunting state, activating the parts associated with wanting and desire. Although classic examples include slot machines and lotteries, variable rewards are prevalent in habit-forming technologies as well. InvestmentThe last phase of the Hook is where the user is asked to do bit of work. The investment implies an action that improves the service for the next go-around. Inviting friends, stating preferences, building virtual assets, and learning to use new features are all commitments that improve the service for the user. These investments can be leveraged to make the trigger more engaging, the action easier, and the reward more exciting with every pass through the Hook. We’ve found this model (and the accompanying book) to be a great starting point for a customer acquisition and retention strategy.

FOCUSING TOO MUCH ON THE NUMBERS In the second example, I managed the team to a set of numbers that did not fully capture what I wanted. I wanted a great product that customers would love with high quality and on time—in that order. Unfortunately, the metrics that I set did not capture those priorities. At a basic level, metrics are incentives. By measuring quality, features, and schedule and discussing them at every staff meeting, my people focused intensely on those metrics to the exclusion of other goals. The metrics did not describe the real goals and I distracted the team as a result. Interestingly, I see this same problem play out in many consumer Internet startups. I often see teams that maniacally focus on their metrics around customer acquisition and retention. This usually works well for customer acquisition, but not so well for retention. Why? For many products, metrics often describe the customer acquisition goal in enough detail to provide sufficient management guidance. In contrast, the metrics for customer retention do not provide enough color to be a complete management tool. As a result, many young companies overemphasize retention metrics and do not spend enough time going deep enough on the actual user experience. This generally results in a frantic numbers chase that does not end in a great product. It’s important to supplement a great product vision with a strong discipline around the metrics, but if you substitute metrics for product vision, you will not get what you want.

Love your freeloaders, and they’ll love you back. Some of them will like what you do so much that they’ll become paying customers. Some will even become whales. Some of them will invite their friends to come and play - which has a direct financial upside for you, because it reduces your acquisition cost. Some will play with their friends in the game, which boosts your retention and makes those friends more likely to keep playing and become paying customers. Some will spread the word about how fun your game is. They’ll all bring you value in their own way. Of course, that doesn’t

The key metrics in the ownership economy are conversion rate, transaction size, and economies of scale. In the Membership Economy they are retention and customer lifetime value.

In just two short years, the Chicago-based startup Belly Card (commonly known as Belly) has helped thousands of small and medium sized businesses overcome customer retention problems through their novel and easy-to-use customer loyalty platform. Their solution is now used by over 5,000 merchants across 46 states, helping them reach well over a million customers.

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Growing your startup’s brand, customer reach, conversion rate, retention, engagement, and virality can include finding that one great hack, but to do that, you need a broader understanding of the problem you’re working to solve.

Remember that a core tenet of growth hacking is experimentation all through the customer experience funnel: not just customer awareness and acquisition but also activation, retention, revenue, and referral.

With the aid of a mid-morning Twix, I attempted to coax my brain into thinking about the report I’m supposed to be putting together for Janice. It has the working title of “Re-solutioning the Brand: from Customer Dissension to Retention”. I have yet to start it, mainly for the reason that I don’t really know what it means.

If you don't have a customer retaining strategy in the 2020 you are economically screwed.

Understanding your consumer makes it easier and cheaper to reach them in large volume with targeted marketing and advertising. It also makes it easier to create a product that better satisfies their needs, and is used in a manner that is convenient to them (important for product adoption and customer retention). It also helps you better understand your market size, which enables you to make more accurate financial estimates.

Understanding your consumer makes it easier and cheaper to reach them in large volume with targeted marketing and advertising. It also makes it easier to create a product that better satisfies their needs, and is used in a manner that is convenient to them (important for product adoption and customer retention).

Therefore we need to clearly understand an important concept: a good product or service is a customer-retention tool.

Digital Vertex is a web development and marketing firm that has successfully helped thousands of companies grow and promote their business.A family-run business since its inception over 12 years ago, we apply sound, proven strategies when creating and marketing a website for your company. We understand from our substantial experience the importance of developing sites that draw in casual site visitors, capture those leads and convert them into valuable customers. We do this by emphasizing esthetics, usability, and proper calls to action as fundamentals. We then support these fundamentals with robust and relevant content in order to augment your client base and promote user engagement and retention. Or in simpler terms, we help your business look good and make money!

By your practice of active listening, everyone involved benefits because you . . . • are more engaged and engaging; • demonstrate that you are interested in others and what they have to say; • make others feel important, respected, understood, and appreciated; • improve your memory and retention; • affirm to others that you are an authentic, caring, and compassionate person; make a great first and last impression

Therefore we need to clearly understand an important concept: a good product or service is a customer retention tool.

Groupon is a study of the hazards of pursuing scale and valuation at all costs. In 2010, Forbes called it the “fastest growing company ever” after its founders raised $135 million in funding, giving Groupon a valuation of more than $1 billion after just 17 months.5 The company turned down a $6 billion acquisition offer from Google and went public in 2011 with one of the biggest IPOs since Google’s in 2004.6 It was one of the original unicorns. However, the business model had serious problems. Groupon sometimes sold so many Daily Deals that participating businesses were overwhelmed . . . even crippled. Other businesses accused Groupon of strong-arming them to sign up for Daily Deals. Customers started to view the group discount (the company’s bread and butter) as a sign that a participating business was desperate. Businesses stopped signing up. Journalists suggested that Groupon was prioritizing customer acquisition over retention — growth over value — and that it had gone public before it had a solid, proven business model.7 Groupon is still a player, with just over $3 billion in annual revenue in 2015. But its stock has fallen from $26 a share to about $4 today, and it has withdrawn from many international markets. Also revealing is that the company is suing IBM for patent infringement, something that will not create customer value.8 Many promising startups have paid the price for rushing to scale. We can see clues to potential future failures in the recent “down rounds” (stock purchases priced at a lower valuation than those of previous investors) hitting companies like Foursquare, Gilt Group, Jet, Jawbone, and Technorati. In their rush to build scale, executives and founders search for shortcuts to sustainable, long-term revenue growth.

11 Benefits of Asking Questions “The important thing is not to stop questioning. Curiosity has its own reason for existing.” – Albert Einstein 1. Builds rapport. 2. Nurtures creativity. 3. Grows your knowledge and awareness. 4. Exercises critical thinking and problem-solving skills. 5. Makes the other person feel valued. 6. Helps you make thoughtful decisions. 7. The better our questions, the better our answers. 8. Keeps you agile and open to new ideas. 9. Improves your memory and retention. 10. Helps you stay informed and relevant. 11. Enables you to discover a new world of possibilities you would not have known otherwise.

Interestingly, I see this same problem play out in many consumer Internet startups. I often see teams that maniacally focus on their metrics around customer acquisition and retention. This usually works well for customer acquisition, but not so well for retention. Why? For many products, metrics often describe the customer acquisition goal in enough detail to provide sufficient management guidance. In contrast, the metrics for customer retention do not provide enough color to be a complete management tool. As a result, many young companies overemphasize retention metrics and do not spend enough time going deep enough on the actual user experience. This generally results in a frantic numbers chase that does not end in a great product. It’s important to supplement a great product vision with a strong discipline around the metrics, but if you substitute metrics for product vision, you will not get what you want.

Over the years, Facebook has executed an effective playbook that does exactly this, at scale. Take Instagram as an example—in the early days, the core product tapped into Facebook’s network by making it easy to share photos from one product to the other. This creates a viral loop that drives new users, but engagement, too, when likes and comments appear on both services. Being able to sign up to Instagram using your Facebook account also increases conversion rate, which creates a frictionless experience while simultaneously setting up integrations later in the experience. A direct approach to tying together the networks relies on using the very established social graph of Facebook to create more engagement. Bangaly Kaba, formerly head of growth at Instagram, describes how Instagram built off the network of its larger parent: Tapping into Facebook’s social graph became very powerful when we realized that following your real friends and having an audience of real friends was the most important factor for long-term retention. Facebook has a very rich social graph with not only address books but also years of friend interaction data. Using that info supercharged our ability to recommend the most relevant, real-life friends within the Instagram app in a way we couldn’t before, which boosted retention in a big way. The previous theory had been that getting users to follow celebrities and influencers was the most impactful action, but this was much better—the influencers rarely followed back and engaged with a new user’s content. Your friends would do that, bringing you back to the app, and we wouldn’t have been able to create this feature without Facebook’s network. Rather than using Facebook only as a source of new users, Instagram was able to use its larger parent to build stronger, denser networks. This is the foundation for stronger network effects. Instagram is a great example of bundling done well, and why a networked product that launches another networked product is at a huge advantage. The goal is to compete not just on features or product, but to always be the “big guy” in a competitive situation—to bring your bigger network as a competitive weapon, which in turn unlocks benefits for acquisition, engagement, and monetization. Going back to Microsoft, part of their competitive magic came when they could bring their entire ecosystem—developers, customers, PC makers, and others—to compete at multiple levels, not just on building more features. And the most important part of this ecosystem was the developers.

features that you can connect directly to a goal the customer would like to accomplish right now. Retention attributes are features that aren’t as important when a customer is making an initial purchase decision, but are very important when it comes time to renew. These include how easy it is to do business with a company and the quality of customer support.

Well, she was weak, as weak as you must expect women to be after centuries of custom have bred weakness into their very nature. Why are women weak? Because men have made them so. Because the law that was framed by men, and the public opinion which it has been their privilege to direct, have from age to age drilled into women the belief that they are chattels, to be owned and played with, existing for the male pleasure and passion. Because men have systematically stunted their mental growth and denied them their natural rights, and that equality which is theirs. Weak! Women have become weak because weakness is the passport to the favour of our sex. They have become foolish because education has been withheld from them and ability discouraged; they have become frivolous because frivolity has been declared to be the natural mission of woman. There is no male simpleton who does not like to find a bigger simpleton than he is to lord it over. Truly, the triumph of the stronger sex has been complete, for it has even succeeded in enlisting its victims in its service. The great instruments in the suppression of women, and in their retention at their present level, are women themselves.

It's also important for tech product managers to have a broad understanding of the types of analytics that are important to your product. Many have too narrow of a view. Here is the core set for most tech products: User behavior analytics (click paths, engagement) Business analytics (active users, conversion rate, lifetime value, retention) Financial analytics (ASP, billings, time to close) Performance (load time, uptime) Operational costs (storage, hosting) Go‐to‐market costs (acquisition costs, cost of sales, programs) Sentiment (NPS, customer satisfaction, surveys)

When you involve hearts, spirits, minds, and hands, your organization is both feeling and acting. You have an engaged workforce that produces its own bottom-line improvements in retention, quality, customer service, and profitability. You don’t have to design those outcomes into engagement; they are inevitable.

Business and Employer: Setting up and idea can be easy but getting it to run is another thing entirely. Most errors made by business innovators and start-ups entrepreneurs is they assume creation is same and nurturing. So they create funnels that leads to nowhere. Excessive digital marketing without customers receptive and retention relations will crash your business and ideas. Hurrey Syndrome: this is why they sing hurrey on their first sales and the second one would take another year with exhaustive online hosting expenses plus digital marketing; joining every group just to post and excessively irritating every post just to get seen. Correction/Fix: Research and study has shown that most successful business innovators and start-ups experts attained the level of professionalism via training and taking professional courses. Take more courses, learn more be equipped before you jump. I am Victor Vote VV&F

Tavel noted that there are three distinct strategy phases startups, and by extension new products, go through: engagement, retention, and self-perpetuating. Startups that go through all three tend to turn into multibillion-dollar companies, whereas startups that get stuck in one phase commonly fail. The goal of the first phase is to get customers using your product and completing the core action, like posting a photo to Instagram. This is a sign they’re engaged with your product, and we could say that completing the core action is a success metric that supports an engagement goal.

If you want better ideas, help your employees know what differentiates a good IDEA by giving them a few criteria to follow. When they can think through these elements, their idea has a better chance of being used and making a difference. I—Interesting. Why is this idea interesting? What strategic problem does it solve? How will results be made better by this idea (customer experience, employee retention, efficiency)? D—Doable. Is this idea something we could actually do? How would we make it happen? What would make it easier or more difficult? E—Engaging. Who would we need to engage to make this happen? Why should they support it? Where are we most likely to meet resistance? A—Actions. What are the most important actions needed to try this? How would we start?

CRM (Customer Relationship Management) is a marketing strategy that focuses on managing interactions and relationships with customers. CRM enables businesses to improve customer satisfaction, loyalty, and retention by providing personalized experiences that meet their needs. CRM is an essential aspect of modern marketing as it enables businesses to understand their customers' behavior, preferences, and needs and develop targeted marketing campaigns that resonate with them. In Go High Level, CRM (Customer Relationship Management) is a core component of the platform. The CRM functionality in Go High Level enables businesses to manage their customer interactions and relationships more effectively, improving customer satisfaction, loyalty, and retention. The CRM functionality in Go High Level includes a range of features and tools designed to help businesses automate and streamline their customer-facing processes, as well as provide them with insights into their customers' behavior, preferences, and needs. In essence, CRM is a set of practices, technologies, and strategies that businesses use to manage their customer interactions and relationships. The goal of CRM is to build stronger, more meaningful relationships with customers by providing them with personalized experiences and tailored solutions. CRM in marketing can be divided into three main categories: operational CRM, analytical CRM, and collaborative CRM. Operational CRM focuses on automating and streamlining customer-facing processes, such as sales, marketing, and customer service. This type of CRM is designed to improve efficiency and productivity by automating repetitive tasks and providing a centralized database of customer information. Operational CRM includes features such as sales pipeline management, lead nurturing, and customer service management. Analytical CRM focuses on analyzing customer data to gain insights into their behavior, preferences, and needs. This type of CRM enables businesses to make data-driven decisions by providing them with a better understanding of their customers' needs and preferences. Analytical CRM includes features such as customer segmentation, data mining, and predictive analytics. Collaborative CRM focuses on enabling businesses to collaborate and share customer information across different departments and functions. This type of CRM helps to break down silos within organizations and improve communication and collaboration between different teams. Collaborative CRM includes features such as customer feedback management, social media monitoring, and knowledge management. CRM is important for marketing because it enables businesses to build stronger, more meaningful relationships with customers. By understanding their customers' behavior, preferences, and needs, businesses can develop targeted marketing campaigns that resonate with them. This results in higher customer satisfaction, loyalty, and retention. CRM can also help businesses to improve their sales and marketing processes by providing them with better visibility into their sales pipeline and enabling them to track and analyze their marketing campaigns' effectiveness. This enables businesses to make data-driven decisions to improve their sales and marketing strategies, resulting in increased revenue and growth. Another benefit of CRM in marketing is that it enables businesses to personalize their marketing campaigns. Personalization is essential in modern marketing as it enables businesses to tailor their marketing messages and solutions to meet their customers' specific needs and preferences. This results in higher engagement and conversion rates, as customers are more likely to respond to marketing messages that resonate with them. Lead Generation: Go High Level provides businesses with a range of tools to generate leads, including customizable landing pages, web forms, and social media integrations.

There are really only a handful of core processes that make any organization function. Systemizing involves clearly identifying what those core processes are and integrating them into a fully functioning machine. You will have a human resource process, a marketing process, a sales process, an operating process, a customer-retention process, an accounting process, and so on. These must all work together in harmony, and the methods you use should be crystal clear to everyone at all levels of the organization. The first step is to agree as a leadership team on what these processes are and then to give them a name. This is your company’s Way of doing business. Once you all agree on your Way, you will simplify, apply technology to, document, and fine-tune these core processes. In doing so, you will realize tremendous efficiencies, eliminate mistakes, and make it easier for managers to manage and for you to increase your profitability.

In the divine economy of grace, sin and failure become the base metal and raw material for the redemption experience itself. Much of organized religion, however, tends to be peopled by folks who have a mania for some ideal order, which is never true, so they are seldom happy or content. It makes us anal retentive after a while, to use Freud's rude phrase, because we can never be happy with life as it is, always filled with different people, mentally unstable people, people of “other” and “false” religions, irritable people, LGBTQIA+ people, and people with totally different customs and traditions, not to mention wild nature, which we have not loved very well up to now. Organized religion has not been known for its inclusiveness or for being very comfortable with diversity. Yet pluriformity, multiplicity, and diversity form the only world there is! It is rather amazing that we can miss, deny, or ignore what is in plain sight everywhere.

People don’t appreciate that they can always buy growth, but you can’t buy engagement, it has to be built into the product. Unless you have a crappy product, it’s much more cost effective to spend resources on keeping existing customers than finding new

The more ambitious the OKR, the greater the risk of overlooking a vital criterion. To safeguard quality while pushing for quantitative deliverables, one solution is to pair key results, to measure both effect and counter effect, as Grove wrote in High Output Management. When key results focus on output, Grove noted, 'the paired counterparts should stress the quality of work, thus in Accounts Payable, the number of vouchers processed should be paired with the number of errors found either by auditing or by our suppliers. For another example, the number of square feet cleaned by a custodial group should be paired with by rating of the quality of work as assessed by a senior manager with an office in that building.' -- Let the quantity goal be three new features, the paired quality goal will be fewer than 5 bugs per feature in quality assurance testing. The result - developers will write cleaner code. If the quantity goal is 50 million dollars in Q1 sales, the quality goal can be 10 million dollars in maintenance contracts, because sustained retention by sales professionals will increase customer success and satisfaction.

Do you work hard to attract new customers but do little to keep them?

You work hard to attract new customers. Why not invest the same effort in retaining them?

By outsourcing technical customer support, businesses can free up their internal resources to focus on core competencies and strategic initiatives. This allows you to concentrate on product development, marketing, and other vital areas of the business while leaving customer support in the hands of specialists. English Call Center (ECC) has well-established processes and technologies in place to deliver efficient and consistent customer support. We uses advanced tools, ticketing systems, and knowledge bases, enabling our clients to get prompt and accurate resolutions to customer issues. It helps in improving customer satisfaction and retention.

its focus needs to be on improving customer retention. This goes against the standard intuition in that if a company lacks growth, it should invest more in sales and marketing.

How Advocacy Boosts Retention One of the most critical challenges facing fitness clubs is retention. About 30 percent of club members do not renew their memberships, according to IHRSA. In some clubs, turnover rates are even higher. In larger fitness chains, like the fitness club, improving retention rates by even one percent can mean millions in revenues. So how can Brand Advocates help fitness clubs keep more members? Here are three ways: 1. Members are more likely not to renew if their usage levels are low. Brand Advocates can help educate other members about services they may not currently be using, like Group X classes, personal training, swimming lessons, spa services, and more. As the club's most enthusiastic and engaged members, Advocates are glad to tell others about these services. 2. Brand Advocates will happily create content about why they're loyal customers. Ask your Advocates why they stay with your club. Advocates will create compelling answers, which you can then share with other members and even prospects. 3. Sponsor fun events where Advocates encourage new members to participate in club events and take advantage of club services. 4. Lastly, engaging your Advocates increases the likelihood that these enthusiastic members themselves will continue renewing their memberships month after month, year after year. By building and nurturing relationships with your Advocates you deepen their commitment to your club.

IT is the business’s competitive differentiator to customer acquisition and retention.

The focus needs to be in improving customer retention

Across a wide range of industries, a 5 percent improvement in customer retention rates will yield a 25 to 100 percent increase in profits.

Getting your message in front of the right people in the right place at the right time using the right channels is the right thing to do. But what if the real optimization that needs to take place is from acquisition-led efforts to retention-led ones [retention, consolidation, and referrals]? p. 18

Akcelita LLC is a technology solutions provider based in San Juan, Puerto Rico. We focus on digitizing the customer experience to aid management in making data driven decisions. Akcelita develops solutions to capture the customer journey and close the loop with their input, aiding in customer retention & an increase in revenues. damefeedback.com

The first stands alone: Massive Transformative Purpose (MTP). As the name suggests, MTP is the ExO’s core reason for existing. MTP is the foundation upon which all company actions take place. It establishes a long-term goal for the company so sweeping and profound that it is always within reach yet always unreachable. It sets a moral foundation for all company interactions between all stakeholders. It keeps the company disciplined and on target. It inspires employees and customers. And it galvanizes employee morale and retention.

Flight, hotel and insurance aggregator websites understand that friction can create value. They found that faster search times on their websites often resulted in fewer sales. They now artificially increase search times and show all the sites they’re searching in an attempt to convince you that they’ve done a thorough search, so you don’t have to look elsewhere. This tactic has resulted in more sales, better retention and higher customer-return rates.

By customizing teaching approaches based on individual preferences, educators optimize the learning environment for accelerated understanding and retention.