Why Retention is important?!

If you don’t make customers feel valued, they’ll eventually leave © ALEXANDRA GL — FOTOLIA.COM
  • Provides vanity metrics — More DAU’s, campaign clicks, visitors on the page, etc. These metrics look good on the surface but provide no actionable insights on the future strategy.
  • Acquisition results are evident and easily visible to stakeholders — Easy measurement of success, instant gratification without actually pausing to see if they provide any value to the customer/ business.
Patrick Campbell of Price Intelligently
  • Retention has a better ROI — A customer becomes more valuable over a period of time, and a robust retention strategy will enable you to keep your current customers for longer.
  • High Market Share — Companies focusing on retention are able to increase their market share more effectively as compared to their more acquisition-focused competitors.
  • Reduce Churn Rate — Keeping churn rate in check, keeping flat churn rate in growth phases. Focusing on customer retention through the lens of product engagement — instead of measuring and forecasting solely using churn rate.

Closing Remarks

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I am a product enthusiast working as a Product Manager. I have a brain of an engineer, the heart of a designer, and the speech of a diplomat.

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manav chugh

manav chugh

I am a product enthusiast working as a Product Manager. I have a brain of an engineer, the heart of a designer, and the speech of a diplomat.

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