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The Property Management Show
Why Customer Churn is a Silent Killer with Daniel Craig
Sep 8, 2022
Daniel Craig from ProfitCoach joins the show to discuss why customer churn is a silent killer in the property management industry. Topics include the impact of churn on profitability, maximizing customer retention for sustainable growth, exploring churn rates, budgeting for customer retention, the role of mindset in marketing, and an upcoming benchmarking study at the Narpa National event.
35:29
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Quick takeaways
- Low client retention creates a 'leaky bucket' effect impacting sales and marketing effectiveness.
- A strong company reputation enhances marketing outcomes and organic referrals are crucial for success.
Deep dives
Importance of Client Retention and Lifetime Value
Emphasizing the significance of client retention, the podcast delves into how low client retention can lead to a 'leaky bucket' effect, impacting the effectiveness of sales and marketing efforts. The discussion highlights that good customer retention ensures that the money spent on acquiring new clients contributes to profitability, emphasizing the link between lifetime value and organizational growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode