What’s More Important, New Customers or Retention? It’s a Trick Question

SaaStr

Q: What is more important, getting new customers or customer retention? It’s a trick question, of course — the crazy high net negative churn of top SaaS companies means that of course retention matters more than new customers. So in the early days, retention alone only gets you so far.

Customer Retention Rate: How to Calculate Subscription Retention Rate

ProfitWell

Customer retention is king for any subscription business. That's why understanding your retention rate is so important. Your retention rate—and by retention rate I'm specifically referring to the percentage of customers retained over tim e—gives you a benchmark for consistently improving your product and business, provides early warning of potential problems, and simplifies revenue forecasting. What is retention rate? Why is retention rate so important?

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Understanding the Importance of Customer Retention

Totango

Time and money that could have been saved—if you’d focused on customer retention. Instead, use customer retention strategies to keep your hard-won customers. To get you started on the path to saving money, we’ll examine the importance of customer retention and how you can raise your retention rates. The Importance of Customer Retention. What’s the importance of customer retention? How to Raise Customer Retention Rates.

How to Optimize Customer Retention for B2B Enterprises

Totango

When you make customer retention for B2B business models a priority, you’ll not only save money on acquisition costs; you’ll also unlock the growth potential of your existing customer base. Let’s explore why customer retention for B2B is so important and how you can make it happen.

The Product Manager's Guide to Retention

This book walks through multiple aspects of retention, including why it’s so important, how to best measure it, and how to set goals for the different stages of retention. It also provides strategies for improving retention across the customer journey.

Customer Retention Optimization Strategies to Keep Customers Long-Term

Totango

Apply a few key customer retention optimization strategies to build deep, lasting customer relationships. Why Retention Matters. Retention is a result of the customer experience. When practicing customer retention optimization, keep in mind that the success of your clients is the success of your company. The Best Customer Retention Optimization Strategies . Don’t just think about retention when renewal rolls around; this should be a continuous effort. .

Customer Retention Strategies That Work in Uncertain Times

Totango

One especially important facet of planning for the unexpected inevitable is customer retention. Here are some customer retention strategies that you’ll want to use: Digitally engage with your customers Use customer data to make data-driven decisions Proactively manage expectations Swiftly and effectively respond to escalations Leverage an early warning system Offer flexibility in refunds, downgrades, discounts, or discontinuations. Customer Retention & Churn

Reading list: Advice for customer retention

Inside Intercom

We continue our series of posts looking back through the Inside Intercom archive with a selection of some of our most popular posts on customer retention. Customer retention is the new conversion. Customer retention strategies: 5 best practices & 6 strategies for low churn.

How to Calculate and Improve Your Customer Retention Rate

Totango

Customer retention is the lifeblood of any savvy enterprise. As such, you will need to keep a close eye on your customers as they progress along the customer journey to avoid churn and gather the data needed to calculate your retention rate. Your customer retention rate (CRR) indicates the percentage of customers you’ve retained within a certain length of time. How to Calculate Your Customer Retention Rate. How to Improve Your Customer Retention Rate.

5 SaaS Renewal Process Best Practices for Customer Retention

Totango

Know your customer, personalize your communications, and proactively work toward a mutual journey of growth, and you’ll find your retention process becomes as reliable as a well-worn marriage. Customer retention is about the promise of continued growth. We’ve gathered 5 of our favorite SaaS renewal best practices to help you remove the stress from your retention process: Define your customer.

SaaSOptics SaaS Metrics Template

Download this template that includes calculations, formulas, definitions and a customizable dashboard. The template includes subscription momentum metrics (ARR, customer count, avg. ARR), churn and retention metrics, and customer lifetime value metrics.

What is Customer Retention Management and Why Does it Matter?

Totango

As the economy grows increasingly customer-centric, customer retention becomes more vital to the success of enterprises. This means that good customer retention management is necessary for maximizing financial growth, minimizing wasted resources, and optimizing the customer experience.

Understanding the Importance of Customer Retention

Totango

Time and money that could have been saved—if you’d focused on customer retention. Instead, use customer retention strategies to keep your hard-won customers. To get you started on the path to saving money, we’ll examine the importance of customer retention and how you can raise your retention rates. The Importance of Customer Retention. What’s the importance of customer retention? How to Raise Customer Retention Rates.

Customer retention strategies for turbulent times

ProfitWell

Customer retention is more important than ever during these uncertain times. Here are some strategies based on basic customer retention principles to help you get through this challenging time. customer retentionBusinesses that are able to retain customers now, at the height of the crisis, will be in a much better position post-crisis. Knowing what to focus on can be challenging when everything has been thrown into chaos—in both your personal and professional life.

What Is Good Retention: An Exhaustive Benchmark Study with Lenny Rachitsky

Casey Accidental

These plans included a lot of the goals you likely have in your company: improvements in acquisition, activation, and retention. But long term, how high could we push this retention number? What would great retention be for Eventbrite?”. Soon after, I was chatting with Lenny Rachitsky , and we decided to embark on a holistic study across the industry to ask “what is great retention?” Why is retention so damn important?

A Product Manager Guide: How to Measure User Activation in Your Product

Building a great product is no longer just about acquiring visitors. It’s about turning those visitors into customers. This requires measuring and increasing user activation and retention. Learn more about Measuring User Activation in this eBook.

Salesforce Field History Retention Policy: What It Means and Why You Should Care

InsightSquared

Articles CRM crm data CRM history insightsquared sales sales analytics salesforce Salesforce data salesforce field history retention policy Salesforce history Salesforce.com sfdcAt InsightSquared, we talk a lot about using your historical Salesforce data to expose and identify patterns from years past to dramatically improve accuracy in the present and future.

The Relationship Between Customer Retention and Profitability Explained

Totango

It’s time to recognize and leverage the link between customer retention and profitability. Exploring the Link Between Customer Retention and Profitability. Simply put, if you raise customer retention, profitability will also increase. The moment a transaction is complete, your business must change its focus to customer retention. Tips on Boosting Customer Retention. Increase Customer Retention and Profitability with the Right Software.

How are User Engagement and Retention Related?

Totango

And if you’re struggling to raise engagement and retention rates through separate initiatives, you may have trouble raising either. User retention is when customers come back to your product after the initial use. Strong engagement often leads to greater retention, and retention can also open the door for deeper engagement. User Engagement and Retention: Two Goals, One Strategy. User engagement and retention aren’t the same.

6 SaaS Customer Retention Best Practices

Totango

In customer retention, every engagement counts. Rather, customer retention for SaaS enterprises is a result of the customer experience. As dependable and recurring renewal is crucial to the growth of our own enterprise, it is vital that we understand customer retention best practices must be implemented at every stage of the customer journey and reinforced by every engagement we undertake. Why Customer Retention Matters. 6 SaaS Customer Retention Best Practices.

New Study: 2018 State of Embedded Analytics Report

Embedded analytics also helps companies master efficient customer acquisition and retention. In terms of customer acquisition and retention, embedded analytics unquestionably boosts business. 2018 STATE OF. EMBEDDED. ANALYTICS. REPORT The Sixth Annual Review of Embedded.

SaaStr 2020 Session Preview: Churn is Dead, Long Live Net Dollar Retention!

Kellblog

The purpose of this post is to provide a teaser to entice you to attend my session, Churn is Dead, Long Live Net Dollar Retention Rate , bright and early on Wednesday, September 2nd at 8:00 AM. Net dollar retention (NDR) rate definition and benchmarks.

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Retention first?

ProfitWell

Plus, customer retention predictions for the year to come. Is retention-first the way of 2020? Guy Marion, Founder and CEO at Brightback , argues that retention is on tap for companies who are looking to keep customers engaged and driving growth moving forward. He also believes customer retention will become the new frontier for marketers. Metrics will shift to reflect a retention-first mindset. Today, a musical look at the future of streaming.

What is Customer Retention Management and Why Does it Matter?

Totango

As the economy grows increasingly customer-centric, customer retention becomes more vital to the success of enterprises. This means that good customer retention management is necessary for maximizing financial growth, minimizing wasted resources, and optimizing the customer experience.

Retention marketing strategies that boost revenue

Vero

Once you do win them over, though, you can reap the rewards of that relationship through retention marketing. . Marketing retention strategies are focused on keeping customers happy to prevent churn, and increase account expansion and advocacy. The benefits of retention marketing include: Increased revenue . Increasing retention rates by 5% can increase profits by 25% to 95%. The best retention marketing strategies begin before a customer ever converts.

Product Analytics Playbook: Mastering Retention

Why do your users churn? In this guide you'll learn common product pitfalls and how to fix them.

Retention marketing strategies that boost revenue

Vero

Once you do win them over, though, you can reap the rewards of that relationship through retention marketing. . Marketing retention strategies are focused on keeping customers happy to prevent churn, and increase account expansion and advocacy. The benefits of retention marketing include: Increased revenue . Increasing retention rates by 5% can increase profits by 25% to 95%. The best retention marketing strategies begin before a customer ever converts.

Churn is Dead, Long Live Net Dollar Retention! Slides from my SaaStr 2020 Presentation

Kellblog

I just finished delivering my presentation at SaaStr Annual 2020, dubbed Churn Is Dead, Long Live Net Dollar Retention.

Is Customer Retention Management Software Worth It?

Totango

That’s why customer retention management software is a vital component of your retention strategy. If your customers are the foundation of your enterprise, then customer retention is the most important aspect of a successful business. What Are the Benefits of Customer Retention Management Software? With this perspective, customer retention is the only way to unlock the full value of any customer partnership. How Customer Retention Management Software Works.

110% Net Dollar Retention Is The Benchmark

OPEXEngine

One SaaS metric we monitor closely is net dollar retention. Similarly, net retention below 100% means churn and downgrades were greater than any growth you enjoyed from the expansion of existing customers. So what’s a good level of net retention? To find out, we looked at publicly traded SaaS companies at their IPO and compared it to their net dollar retention today. In summary, on median the net dollar retention was a healthy 110% at the time of IPO.

How to Measure Churn: Net Revenue Retention vs. Gross Revenue Retention

OPEXEngine

In this article, we’ll take a look at two of the key calculations you can use to measure churn by way of revenue retention in your startup. What is revenue retention? Revenue retention is the revenue generated from the previous month’s (or year’s) customers. Keep in mind, however, that your revenue retention rate is not necessarily the same as your customer retention rate. Net Revenue Retention Rate. Gross Revenue Retention Rate.

Firebase Retention Cohort Query on BigQuery

Rakam

The cool features aside, Firebase is also a powerful analytics platform with built-in funnel and retention reports. You can filter your user segment on various dimensions such as platform, stream, demographics or custom user properties.

The New World of Customer Retention

OceanX

Subscription Strategy Retention DTCConsumers today enjoy an unprecedented level of control over the subscription experience. Successful subscription retailers are focusing on surprising and delighting customers. They are always looking to provide as much value as possible.

The 5 Best Customer Retention Strategies for Subscription Businesses

Totango

While it’s no doubt a thrill to pursue and persuade a new customer to work with your enterprise, for software and subscription-based businesses, the real value lies in customer retention. But your customer retention strategies should be based on long-term thinking. The best customer retention strategies build out from a common, cross-functional focus on the customer. As you’ll discover below, the best customer retention strategies are based on building bonds.

The Relationship Between Customer Retention and Profitability Explained

Totango

It’s time to recognize and leverage the link between customer retention and profitability. Exploring the Link Between Customer Retention and Profitability. Simply put, if you raise customer retention, profitability will also increase. The moment a transaction is complete, your business must change its focus to customer retention. Tips on Boosting Customer Retention. Increase Customer Retention and Profitability with the Right Software.

Customer acquisition vs. retention: Which is best for growth?

ProfitWell

Customer acquisition vs. customer retention—which one is better? Efforts to improve retention are often put on the back burner, or totally neglected. In reality, though, retention offers a much higher ROI on advertising spend for certain business models—and is often much more cost-effective than its counterpart. Let's dive into the details of customer acquisition and retention, and see if we can answer that question. Retention grows customer LTV. retention

Customer retention is the new conversion

Inside Intercom

It turns out that it’s not just us within the SaaS business that are realizing that retention matters. Customer retention is more important than conversion. That’s why I’ve been saying that retention is more important than conversion for all businesses, but specifically for marketers. Which is why retention, and the idea of retention, is actually where you need to position your mind. The importance of net dollar retention.

Support strategies that drive better retention

Inside Intercom

That’s Tom Ronen, Head of Customer Success for monday.com , on a topic that’s been on many of our minds lately: retention. We sat down with Tom and Kaitlin Pettersen, our Global Director of Customer Support, in a recent webinar that focused on how support teams can increase retention and reduce churn among their customers right now. Empower your team to make strategic, spontaneous decisions that can drive retention. Work with cross-functional partners to drive retention.

Don’t tell me you miss me: 3 better approaches to user retention

Inside Intercom

A retention campaign that paints a commercial relationship as a personal one will always be awkward at best and at worst will create ill will. Here’s three better ways to create retention campaigns that feel genuine and actually work: Focus on how your product helps.

The Best Customer Retention Strategies in B2B for 2020

Totango

These businesses will be well-situated to speak to, lead, and ultimately retain customers through customer retention strategies in B2B like the following: Re-evaluate Current Digital Engagement Strategy Make Use of Key Engagement Metrics Personalize Communication Foster Lasting Relationships. Customer Retention Strategies in B2B for 2020 and Beyond. The Future of B2B Customer Retention. Customer Retention & Churn