Marketing School - Digital Marketing and Online Marketing Tips Advanced Retention Strategies with Patrick Campbell #1947
Dec 16, 2021
Discover cutting-edge strategies to boost customer retention. Explore the importance of key metrics and practical tactics that lead to long-term subscriptions. Learn about effective offboarding techniques and win-back campaigns that re-engage lost customers. Understand how to harness customer feedback to refine retention efforts and keep your clientele loyal.
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Breaking Down Retention
- Understand the different sources of churn: active cancellations, expansion revenue, and payment failures.
- Breaking these down helps identify areas for improvement and prioritize efforts.
Plan Optimization
- Offer longer-term plans like quarterly or annual subscriptions to increase customer lifetime value.
- Incentivize these plans with discounts, but ensure the discounts aren't excessively high.
Discount Framing
- Use physical amounts (e.g., "$10 off" or "two months free") instead of percentage discounts.
- The human brain processes physical amounts more easily, making them more effective.