The Value of Letting Go of Customers with Rand Fishkin, Co-Founder of SparkToro
Jan 9, 2024
auto_awesome
Rand Fishkin, Co-Founder of SparkToro challenges the obsession with customer retention, discussing the value of letting go of customers. They also talk about starting a company, lessons in marketing, the importance of customer retention for startups, lightning round questions, and life advice from a friend.
Selling one's first company, even for a smaller amount, can provide financial security and open doors for future opportunities.
Retention is not the only path to success in business; exploring underserved spaces and offering value can be a valuable approach.
Deep dives
The Importance of Selling the First Company
The speaker highlights the significance of selling one's first company, even if it's not for a large amount of money. They emphasize that having a life-changing amount of money from the first sale can create financial security and open opportunities for future ventures.
The Evolving Landscape of Marketing
The podcast discusses the career of Rand Fishkin, the co-founder and CEO of SparkToro, and his journey in marketing. Starting in the search engine optimization space with SEO Moz, Fishkin's career has evolved to focus on a broader array of marketing channels through SparkToro. He explores the changes in marketing, including the rise of zero-click searches in Google and the shift in social media platforms towards retaining users on their own websites.
Redefining Customer Retention in Startups
The conversation delves into the concept of retention in startups and challenges the common perception that high retention and subscription-based models are the only way to build successful businesses. The speaker argues that while retention is important in certain contexts, it is crucial to consider a wider perspective. They suggest exploring underserved spaces and creating businesses that offer value whenever customers are subscribed, rather than focusing solely on long-term retention. The idea of letting customers go and earning their business again is presented as a valuable alternative approach.
In this Retain: The Customer Retention Podcast episode, Lauren DeSouza speaks with Rand Fishkin, serial entrepreneur, author and Co-Founder of SparkToro. Together they are playing devil’s advocate, by challenging the business industry's obsession with retention, arguing that there is real value in letting go of customers and discussing effective strategies on how to win them back.
Rand is best known as the Co-Founder and CEO of SparkToro, a company where businesses discover the publications and influencers that impact their target audiences. Rand is an influential voice in the world of marketing and entrepreneurship, sharing his knowledge through speaking engagements, blog posts, and his ongoing commitment to helping marketers navigate the ever-evolving landscape of digital marketing.
We need your help! We want to know what you enjoy about the podcast, what topics you’d like us to explore, and how we can make Retain even better in the future. So we’ve created this simple feedback form to gather your insights and suggestions. Just click, fill it out, and let us know how we can make Retain even better for you.
Want to turn casual buyers into loyal, lifetime customers? Well, click here to book a demo with Gameball.
Retain: The Customer Retention Podcast is handcrafted by our friends over at: fame.so
Previous guests include: Dave Kerpen, Shep Hyken, Joey Coleman, Dan Gingiss, Brittany Hodak, Ron Kaufman and Jim Tincher.