Get insight into how a small increase in customer retention can result in a big increase in profitability. Plus, get easy-to-implement ideas for how you can build a loyal fan base.
- A lot of effort goes into bringing in new users.…So, before you increase your customer base,…let's make sure you're not loosing them…just as fast as they're coming in.…Retention is the act of keeping your current customer loyal.…If you have a subscription model,…that's keeping them subscribing 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,…lets look at why this is so important.…A study conducted by Bain & Company,…reveal that a 5% increase in customer retention…can mean a 30% increase in company profitability.…
That's an impressive return.…And it's not just the repeat purchasing…that improves the bottom line.…It's also because of the reach a loyal customer has.…To become an inexpensive marketing vessel,…sharing your message to friends,…participating in social media,…writing about your product,…and even contributing to on-line reviews.…I've seen a lot of companies struggle…with retention first hand.…There's often times a lack of prioritization,…
- What is the marketing funnel?
- Segmenting the marketing funnel
- Mapping the buyer's journey
- Creating a marketing sequence
- Converting: Moving through the funnel
- Improving the funnel
- Evolving the funnel
Skill Level Beginner
1. Marketing Funnel Basics
2. Marketing Funnel Segments
3. The Buyer's Journey
4. A Marketing Sequence
A funnel scenario3m 57s
5. Moving Through the Funnel
6. Improving Funnel Performance
7. Evolving the Funnel
Next steps1m 15s
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