Join Brad Batesole for an in-depth discussion in this video Retain your existing users, part of Marketing Foundations: Growth Hacking.
- A lot of effort goes into bringing in new users,…so before you increase your customer base,…let's make sure that you're not losing them…just as fast as they're coming in.…Retention is the act of keeping…your current customers loyal.…If you have a subscription model,…that's keeping them subscribed month over month,…and if you sell individual products,…that's turning them into a repeat buyer.…Now before we get into some strategies for retention,…let's look at why this is so important.…A study conducted by Bain & Company…revealed that a 5% increase in customer retention…can mean a 30% increase in company profitability.…
That's an impressive return.…It's not just the repeat purchasing…that improves the bottom line.…It's also because of the reach a loyal customer has.…They become an inexpensive marketing vessel,…sharing your message to their friends,…participating in social media contests,…writing about your product,…and even contributing to online reviews.…I've seen a lot of companies…struggle with retention firsthand.…
The course concludes with growth-hacking case studies, highlighting the growth-hacking techniques that helped propel such companies as Airbnb, Uber, and Tinder to explosive growth.
- What is growth hacking?
- Understanding the funnel
- Setting up tracking and analytics
- Leveraging customers and existing users
- Testing ideas
- Generating an audience
- Creating an incentive strategy
- Real-world examples of successful growth hacking
Skill Level Beginner
Online Marketing Foundations (2014)with Brad Batesole3h 48m Beginner
1. Fundamentals of Growth Hacking
2. Developing a Plan for Growth
3. Preparing for Growth
4. Planning Clear Tests
5. Choosing Your Growth Hack
6. Generate Your Audience
7. Incentivize Your Users
8. Generating Growth Moments
9. Case Studies
Wrapping up1m 47s
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