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How to Boost Retention and Monetization with Customer Engagement
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About the talk
Overview Customer acquisition is hard work – which we all know too well! – so it doesn’t make sense to throw it all away by letting them churn. As per the Harvard Business Review, increasing customer retention by even 5% can increase profits by 25-95%. But that’s easier said than done because retention is a lagging indicator and it’s generally too late by the time you find out about it and your customers have already made up their mind to leave your product.
Key Takeaways In this webinar, you will learn:
Why retention rate is key for your business but not actionable Successful strategies to improve customer engagement Metric hierarchy to keep your teams focused on the north star KPI Structuring your growth team to influence engagement across customer funnel
00:01 Introduction
02:17 Rajan Sheths journey
03:03 Acquisition is not the most effective channel for growth
04:27 Is 95% a good SaaS monthly retention rate?
07:17 Blue Aprons retention rate
09:33 Problem with retention measures
12:33 Customer engagement
13:40 Engagement drives retention & monetization
16:22 Define the metric hierarchy
22:20 Find out where users drop
29:43 Set a “realistic” goal
32:58 Go crazy with experiments
33:30 Levers to influence customer engagement
39:00 Key takeaways
40:32 Q&A
About speaker
Included in subscription
Hello everyone. Welcome to another edition of the Growth Marketing Webinar Series brought to you by Business to Community and Growth Marketing Conference. I'm very excited for today's webinar. I'm Derric Haynie. Chief Ecommerce Technologist at ecommercetech.io and your host for today will be available within 48 hours. It will be sending out an email to give you access. So don't worry if you want the prize. If you want the presentation, you will get access
to it in a couple of days at maximum If you have any question at all ask them in chat and be sure to stick around until the end to make sure you get your questions answered. If you learn something today, and you will certainly learn something don't hesitate to take a screegrab and share it on Twitter We have an amazing session lined up for you right now. We will be doing it is my pleasure to introduce you to Rajan Sheth Rajans passion and background are building revenue driven go to market and growth for both start ups and Fortune 500 companies. Currently Rajan leads Heroku's growth organization a
cross product marketing and sales. This means he's in charge of pretty much everything sales acceleration and retention. Even acquisition is probably in there a little bit. Previously he led growth for Box and before he was a founding member of a new business unit and an e-commerce platform where he oversaw the market teams, including growth and analytics-enabled for digital transformation. is this is you know the core of B2B Enterprise SaaS. Thank you. It is amazing to be here. And thank you everyone for joining us today
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