The Retention Stage Explained
Learn what the Retention stage is, which metrics are worth measuring, and what marketing channels can move the needle.
During the retention phase, you’re focused on getting customers to come back and buy again.
You accomplish this by providing exceptional services and fostering relationships. This, in turn, allows you to get one-time customers to become repeat buyers AND prevent recurring customers from churning (which simply means canceling their ongoing service).
The retention phase is super important for two reasons.
First, if your customers are satisfied, they’ll buy more (revenue). Because the cost to acquire a customer is fixed (CAC), this means you’ll make more money from the same customer.
Second, if your customers are satisfied, they’ll recommend your business more (referral). This decreases your customer acquisition cost (CAC) because word of mouth leads are free!
Relevant Metrics:
• Customer Lifetime Value
• Net Promoter Score
• Customer Churn Rate
Traction Channels:
• Lifecycle Marketing (Email)
• Customer Support (Person)
Learn How to Set SMART Goals
Setting SMART goals helps you clarify your ideas, focus your energy, and use your resources wisely. To help you get started, we’ve created a FREE template with all the tools you need to set (and achieve) your most important marketing goals.
Run Your First Marketing Experiment
In order to figure out which marketing channel will work for your business, you need to run experiments early and often. So we created FREE Test and Learn Cards with instructions so you can get started today. Now, running marketing experiments is easy!
Ready to get started?
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