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Upsell and retention is an art, science and craft. You can’t hack it forever. Or churn will increase, NPS will stagnate and decline, and upsell and revenue retention will be a fraction of what it could be. That’s a different, and critical, job than CTO. Marketing is also an art and science.
Upsell and retention is an art, science and craft. Or churn will increase, NPS will stagnate and decline, and upsell and revenue retention will be a fraction of what it could be. You’ll find a way to be decent at some aspect of marketing in the early days on your own (PR, virtality, growthhacking, outbound, cold calling, who knows).
Here are five quick takeaways: “Growthhacking” means different things to different people, but Sean defines it as singular focus on growth through rapid experimentation across the full customer journey. What growthhacking is and isn’t. I thought startups had no choice but to be super focused on growth.
Andrew is a writer and entrepreneur and has written a large number of must-read essays on topics such as viral marketing, growthhacking and monetization. B1: Shows the percentage of retained customers, making it easy to see how retention develops over time as well as to compare different cohorts with each other.
So, for most businesses, instead of measuring satisfaction, measuring retention is the best signal of product/market fit. Measuring retention is pretty easy. Perform a cohort analysis, graph the curve over time and see if there is a flattening of the retention curve. So product/market fit cannot be measured by retention alone.
Those working in growth and retention must continually seek “fresh powder.”. Growth teams commonly make the mistake of picking random, off-the-shelf KPIs without thinking about how they all fit together. The interesting early story there is that they had amazing retention but not a lot of top-line growth.
What is growthhacking? Growthhacking was coined by Sean Ellis to describe strategies that singularly and obsessively drive a company's growth. The idea of growthhacking is ambitious, if not vague. They are changes you make across your workflow that align your entire team to work toward growth.
How growth marketing differs from traditional marketing and growthhacking. TL;DR A growth marketing framework is a defined, data-driven process for achieving real growth as a business. It focuses on every aspect of the customer journey , from acquisition to retention. What is a growth marketing framework?
Much of my day-to-day is: getting my hands on the necessary data sets, running experiments, analyzing what is significant, and tweaking here and there to improve retention. We actually pushed new users into the app without a sign up screen during onboarding and found that engagement, retention, and LTV was much higher. A: Definitely.
The growthhacking process is a process of rapid iterative experimentation: you analyze the current situation, generate ideas for improvement , prioritize them, and test their impact. This should happen at all stages of the funnel , but priority should go to activation because it has the biggest impact on growth.
Maja is particularly known for her expertise in executing growth strategies that drive user acquisition, engagement , and retention. Maja Voje is a prominent entrepreneur, mentor, and growth marketing expert known for her “real world, real results” approach. Who is Maja Voje?
It’s like […] The post Retention: Shifting from Reactive to Proactive to Stop Chasing and Start Leading appeared first on Customer-centric Growth by Lincoln Murphy. You know you need to shift from a reactive approach to a proactive one. Deep down, you feel the urgency, but the ‘how’ eludes you.
If it’s of real value to them, the positive experience they have will drive conversions and, crucially, retention. Consider this analysis from Georgios Chasiotis at Marketing & GrowthHacking: “The reason why we need to move beyond MQLs and SQLs is that people are tired of ‘marketing tricks’ that work only in the short-term.
I was a consumer-facing PM and actually doing a lot of growth stuff before it was “growthhacking” – things like SEO, conversion rate optimization and lead generation. If you’re more early-stage you’re probably not going to want to focus on retention, assuming you have core product/market fit.
TL;DR Growth product manager is a specialist position within product management focusing on identifying and executing product-led growth opportunities in acquisition, engagement, and retention. Books : HackingGrowth : Learn proven tactics for rapid company expansion. Data-driven decisions are key to growth.
Just look at customer acquisition vs retention statistics. If you increase retention rate by 5%, you can increase your company’s profitability by up to 95%. What do you see? When you acquire a new customer, it costs you 5x more than if you retained your existing customer. Top 3 Facebook groups where you can 1.
Many Customer Success Managers (CSMs) fall into the trap of reactive retention. The truth is, there’s […] The post Customer Retention: Proactive, Reactive, and At-Risk Analysis appeared first on Customer-centric Growth by Lincoln Murphy. You’re not alone. It feels like part of the job, right?
It’s now the ability to almost growth-hack your entire support experience and fundamentally change the fabric of the way customers work. That tends to have metrics that are maybe tied more closely to the product: things like usage, adoption, retention, etc. It’s not just this old-style image of an agent on a headset.
Experience with GrowthHacking including retention. Solid Growth Framework knowledge. Relevant experience in working for (or with) a fast-growth consumer start-up from conception through commercial launch. At least 1 year experience in growthhacking tactics. Start-up experience. Background in UX.
This […] The post Customer Negotiation: Discounts, Retention, and Value appeared first on Customer-centric Growth by Lincoln Murphy. If you’re a Customer Success Manager (CSM) or a Head of Customer Success, you’ve undoubtedly encountered these dilemmas.
TL;DR Growth marketing is achieving exponential and sustainable growth by implementing high-impact tactics across the user journey. The Pirate Metrics Framework is a great growth marketing framework – covering the 5 stages of acquisition , activation , retention , referral, and revenue. What is growth marketing?
TL;DR A marketing growth strategy is a comprehensive business growth approach focusing not only on customer acquisition but also on long-term engagement and retention. Growth marketing strategy vs. traditional marketing strategy Growth marketing focuses on the entire customer lifecycle , not just the initial acquisition.
Picture this: A potential customer signs up for your trial, excited […] The post Opt-In vs. Opt-Out Trials: The Hidden Impact on Customer Retention and Success appeared first on Customer-centric Growth by Lincoln Murphy. But here’s a critical question: Could your trial strategy be unintentionally driving customers away?
Just look at customer acquisition vs retention statistics. If you increase retention rate by 5%, you can increase your company’s profitability by up to 95%. What do you see? When you acquire a new customer, it costs you 5x more than if you retained your existing customer. Top 3 Facebook groups where you can 1.
Using data and customer success stories , you’ll need to identify your Aha moments, Activation points, and ways of optimizing engagement to promote retention that will lead you to identify your North Star metric in four steps. Focus on Impact : It helps teams prioritize customer experience , which leads to improved acquisition and retention.
TL;DR Growth product manager is a specialist position within product management focusing on identifying and executing product-led growth opportunities in acquisition, engagement, and retention. That goal can relate to any point of the customer journey , from acquisition to retention and expansion.
This situation makes you to take better care of your growth strategy and always look for SaaS growthhacks that actually work. growth and we will explore ?n customer retention. SaaS companies fighting f?r ur share in the m?rk?t. ght product, success in the S??S nt relies on d?f?n?ng ur development ?tr?t?g?
When it comes to customer retention , figuring out how to wow a customer is crucial. In fact, excellent customer service is one of the best ways to increase customer loyalty and retention. After all, how can you expect to keep existing customers if you’re not able to meet (or exceed) customer expectations?
TL;DR Growth product manager is a specialist position within product management focusing on identifying and executing product-led growth opportunities in acquisition, engagement, and retention. In order to drive product growth throughout the funnel, there are several responsibilities a growth product manager must adopt.
In a recent post on my blog titled 4 stages of growthhacking , I make the point that optimising your Growth Engine is often an overlooked step of the Growth process. – Ask to people who have just arrived at your site.
Smooth sailors, where growth feels like the wind is at your back. The difference between these two are not the common mantras of build a great product, product market fit is the only thing that matters, or growthhacking. What are the natural retention mechanisms of the product? Learn More Growth, One Email Per Post.
Customer retention for brands who used at least three channels in their automation workflows was at about 90%. Just the option of a third channel, no matter what it was, boosted customer retention that much. Thanks for reading The Marketing & GrowthHacking Publication Join our Facebook Group. Write for us.
And more exciting is that you can get many views on a limited budget 8: Email Marketing E-mail marketing is often cited as the most effective digital marketing channel for customer retention, and it is cost effective. As a result, if you do not have an email list, start now to grow your list. You need to create an email database, urgently.
Harness as many methods and channels to learn from as you can, and make sure you keep both acquisition and retention in mind at all times. Their three-step approach is clear and example driven, with an emphasis on retention and LTV. link] Thanks for reading The Marketing & GrowthHacking Publication Join our Facebook Group.
If you’re interested in specific forum channels, service provider suggestions, LinkedIn and social media connection opportunities, a podcast, a facebook group, in-person meetups, webinars and templates, or just more software and SaaS growthhacks in general, we’d like to hear about it. Voice Your Opinions.
7 growthhacks from the SaaS experts. How SoStocked increases retention through grandfathering existing customers into lower prices. Note: FastSpring offers advanced subscription management services that support free trials, monthly and annual paid plans, proration, discount management, and more. Learn more here.
A content delivery network is one of the easiest “growthhacks” The easiest way to increase the sales, user loyalty, and retention rate of your web project is to improve its pages’ performance. And, since even a one-second delay can drop conversion by 20% , saving users time saves your sales.
Growth strategy experts: These players come in later, and work to perfect pricing to optimize for conversion, expansion, and retention. What makes a great senior growth hire? You’re not likely to find people with more than five years of experience in “true” growth. So, what about experience?
TL;DR Growth product manager is a specialist position within product management focusing on identifying and executing product-led growth opportunities in acquisition, engagement, and retention. Do better and balance both to drive long-term business growth. Do better and balance both to drive long-term business growth.
Which tools do you guys use for user retention? We get these questions *a lot* in our Product Growth and Retention group (go check it out, BTW.!), But hopefully – now whenever you need a new tool for user activation, feature adoption or retention – you’ll know where to start. Product Growth Tools: Activation.
Companies that prioritize digital engagement tend to build brand awareness with their target audience and improve customer retention. This will tell you how engaging your product is and can serve as a leading indicator for customer loyalty or retention. What are the benefits of digital customer engagement?
What was your team’s approach to retention, and how integral was it to your success? There’s not really a lot of SMB, which is more like growthhacking rather than breaking into bigger deals. Max: Getting people to create a second course was part of sales. A lot of my advising is actually around hiring.
And healthy net revenue retention targets should be 100–120% after expansion. ?? Brent Scooter Math Thanks for reading The Marketing & GrowthHacking Publication Join our Facebook Group. Great Read : Tom Tunguz on what metrics make free trial models work. Thanks for listening. Have a great week. Write for us.
SaaS Growth Strategy #1: Product-Led Growth. As the Chief Sumo of Sumo Group, Noah Kagan , says, “ Identify marketing channels that are already working for you right now and look for ways to growthhack them to a whole new level. ”. Your retention and churn rates depend on it. In-app marketing. Activation.
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