A 9-minute guide to winning at customer retention
“If you invest in growth before you have retention, you are renting users, not acquiring them.” — Tarun Mitra
The business-customer relationship is often compared to a real relationship, and it’s never more relevant than in the case of customer retention.
Viewing customers as separate entities encourages short-term decision-making.
“100 people have signed up. Next!”
But here’s the thing: the customer isn’t truly ‘acquired’ unless they’re in it for the long run. If not, they aren’t really our customers; they’re just strangers passing through.
Once we’ve ‘acquired’ a customer, we need to continue to ‘acquire’ them throughout their customer journey.
In this instance, ‘acquire’ stands for ‘impress them, delight them, show them they’re valued’. We need to keep looking for ways to do more for them than anyone else is doing.
