Retention not only measures the success of acquisition but also how successful a company is at satisfying existing customers🙌
Hosting (VP Growth & Marketing ) to talk about Retention as the foundation of Growth💫
See ya @ 8 today - youtube.com/watch?v=BCkXOU
Conversation
Replying to
on what Customer Lifetime Value means and how do you calculate it for any user
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on tracking Customer Lifetime Value/Churn
- Churn is basically the no of orders a user's places or y amount of money that he spends before he/she "breaks up"
- You can track churn/CLV is by watching your cohorts behaviour. Cohorts are small group of users
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On Journeys
- Journeys combine diff channels and msgs together
- The aim should be to combine channels to optimise the impact
On Triggers
- Triggers are a reason to communicate with the user. Optimize for frequency and relevance and avoid spam
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On Segments and Personalisation:
- Dynamic Micro-Segments are helpful when you don't have a fixed segment of users whom you want to reach out to
- Personalisation is easier compared to segmentation. It allows you to drill down to individual users and not segments
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How does retention strategy vary among B2C, B2B, D2C?
Can you give an example ?
A great session!!
Thank you so much Ankur :)
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: Could you suggest what might be a good benchmark of retention rates in subscription platforms?
also, how will you attribute retention rates loss on product vs service vs communications?
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This session was crazy and oddly satisfying. Loved hosting you today 🎈 cc
Thanks for the love
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