CUSTOMER RETENTION

ORWHY YOUR

DOGMONEY

WOULD MAKE MORE

THAN YOUVERO

DOGS COST MONEY

GROOMING FOOD HEALTH

THEY CERTAINLY

DON’T

MAKEMONEY

YET...you’d never, ever LEAVE them, would you?

BUT YOU’D NEVER LEAVE THEM

IMAGINEIF YOUR ONLINE BUSINESS WAS AS

LOVED AS YOUR DOG

RETENTION...AND YOUR CUSTOMERS

DIDN’T LEAVE. THIS IS CALLED

$0

$5,750,000

$11,500,000

$17,250,000

$23,000,000

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35

20% churn - your business

5% churn - your dog

Customer retention affectsrevenue DRAMATICALLY

$22M / year VS. $16M / year

EQUALSLOYALTY

CUSTOMER RETENTION

SO HOW DO YOU IMPROVERETENTION?

But how do you build loyalty?

Two things influence loyalty.

1. Behaviour

2. Attitude

1

KNOW WHAT LOYALTY LOOKS LIKE

AKA: TRACK EVERYTHING

KNOW YOUR CUSTOMERS’ THOUGHTS BEFORE THEY DO

TRACK USER FLOWS

TRACKCLICKS

ASK QUESTIONS

IF A CUSTOMER MOVES FROM LOYAL TO NOT LOYAL

PULL THEM BACK

ENGAGED

EMAIL IS A GREAT TOOL TO

KEEP YOUR CUSTOMERS

Remind your customers you exist. Useful reports like this from UserVoice...

...or this daily update from Quibb are extremely effective.

Send them regularly or when customers change their behavior.

Build emails around your core building block, e.g. profiles.

Gaming the system Customers with multiple free trials, using coupon codes, etc.

Exporting dataWhy are customers all of a sudden taking data elsewhere?

Credit cards expiringNot renewing credit cards after they expire.

SOME OBVIOUS SIGNS OF A LACK OF ENGAGEMENT:

RJMetricshttp://blog.rjmetrics.com/ecommerce-churn-rate/

Lincoln Murphyhttp://sixteenventures.com/saas-churn-threats

David Skokhttp://www.forentrepreneurs.com/why-churn-is-critical-in-saas/

Totangohttp://blog.totango.com/2011/10/3-ways-to-do-cohort-analysis-on-saas-churn/

LEARN TO CALCULATE YOUR RETENTION RATE / CHURN:

2

EARN YOUR CUSTOMERS’ TRUST

AKA: SHARE, SHARE, SHARE!

TRUST IS DIFFICULT TO PIN DOWN

COMMUNITYBUILD A

Some ideas:

- Phone calls.

- Surveys.

- Blogging.

- Slideshows, etc.

SLIDESHOWSVIDEOS

BLOG POSTSEBOOKS

SHARE!

SHARED EXPERIENCESBUILD LOYALTY

Great companies, like SEOMoz, build great communities by sharing.

Inbound.org is a great example of how to build trust.

Email is your friend! Net-a-porter educate via “The Edit”. Full image link.

Digital magazine =fashion education

KISSmetrics share blog posts constantly: they post every day.

This is what blogging is about!

...they share different formats too.

Re-share content for IMPACT

Sharing your knowledge works. All the cool kids are doing it, like Wistia...

Fun, AND it works!

...and Help Scout. So why aren’t you?

PERSONALEMAIL IS

0%

25%

50%

75%

100%

Email Facebook SMS Twitter

Email Facebook SMS Twitter

% PEOPLE THAT USE EACH MEDIUM DAILY

WE HAVE A WINNER!

90%+

EVERYONEHAS EMAIL

Plus, it’s PROactive not PASSIVE

ENGAGED

TRUST

KEEP YOUR CUSTOMERS

AND BUILD

AND YOUR CUSTOMERS WILL LOVE YOU LIKE

THEY LOVE THEIR DOGS!

WANT TO REDUCE YOUR CHURN?

VERO

EMBRACE LIFECYCLE EMAIL!

VERO

LEARN HOWGET OUR FREE 30 DAY COURSE ON HOW TO SEND LIFECYCLE EMAILS.

DELIVERED VIA SEVEN EMAILS, OPT-OUT ANY TIME.

CLICK ITLearn to send better emails

WANT *EVEN* MORE?

SUBSCRIBE TO OUR BLOG, FULL OF EMAIL MARKETING HACKS

Subscribe to our blog

PS - SHARE THIS PRESENTATION IF YOU

FOUND IT USEFUL :)

...OR FOLLOW ME ON TWITTER

@CHEXTON