The Game with Alex Hormozi Is Churn Dead?? | Ep 167
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Nov 27, 2019 Discover how churn plays a crucial role in identifying business issues. Delve into the significance of customer activation points for enhancing retention and lifetime value. Learn the art of managing customer expectations and the benefits of attracting qualified clients. Explore how an effective onboarding process can serve as a key indicator of retention. Get insights that could reshape your approach to customer loyalty and profit maximization!
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Focus on Lifetime Value
- Businesses focused on acquisition and marketing are typically smaller and less profitable.
- Larger, more profitable businesses prioritize activation, lifetime value, and client engagement.
Churn is a Lagging Indicator
- Churn is a lagging indicator, revealing past issues rather than current ones.
- Focus on leading indicators like customer activation to address churn proactively.
Set Realistic Expectations
- Set clear and realistic customer expectations from the outset.
- Be transparent about average and even lower-end results to avoid disappointment.