YoungUpstarts

FEBRUARY 13, 2019

by Robbie Kellman Baxter, author of “ The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue “ Everyone knows that retention is crucial for subscription-based companies. Blue Apron is hardly alone with its churn problem. Dig deeper. Why or why not?

Customer 173

Customer Technical Review Retention Acquisition 173

Startup Professionals Musings

MARCH 16, 2016

People are even talking about “decacorns" -- investable companies with net worth now exceeding $10 billion -- like Dropbox and Pinterest. They may decide to acquire the startup in order to hire the team for another project in their portfolio. These deals usually come with retention packages -- so be careful.

Software Review 120

Software Review Sweat Equity Accredited Investor Angel Investor 120

ConversionXL

NOVEMBER 21, 2017

That skill set is not optional in the growth methodology, so you need to either hire, borrow, or kidnap the right people, and appropriately leverage them as part of your team. That is when I knew I had to hire data analysts, which I will discuss momentarily. Would a better onboarding experience improve month-one retention?

Metrics 114

Metrics Database Retention Hiring 114

YoungUpstarts

OCTOBER 10, 2012

SAS Canada “customer champions” helped the firm restore declining customer retention rates—which had fallen as low as the mid-80s percent — back to the firm’s traditional high retention rates of 97-98 percent. And engaging customers in such ways is generally much less expensive than hiring costly employees or agencies.

Customer 154

Customer Fractional CTO Canada Technical Review 154

Version One Ventures

DECEMBER 6, 2018

Retention rate: What percentage of users can you retain quarter over quarter? It’s even better to be net negative (expansion dollars > churn dollars). Hiring after an A round. It’s even better if you understand the LTV and CAC for each of your major marketing channels and customer groups.

Acquisition 150

Acquisition Distribution Metrics Retention 150

Up and Running

NOVEMBER 12, 2014

Hire Attorneys and Accountants. The proposed equity crowdfunding rules limit each person’s total securities purchased per 12 month period in crowdfunding securities offerings—and these limits vary based on the person’s annual income or net worth. Hire Attorneys and Accountants. When your business hires accountants, establish 1.)

Equity 125

Equity SEC Technical Review Security 125

ConversionXL

SEPTEMBER 13, 2017

Fresh financing sources or a significant influx of new hires can lead to subscriber churn. They developed a plan of action to address their issues–largely relying on triggered messaging and their “power users”–and the company increased its customer retention rates by about 71%. 2) Streamline your onboarding processes.

Customer 110

Customer Churn Rate Metrics Retention 110

YoungUpstarts

NOVEMBER 4, 2013

What is new is that, as competition has dialed up and changed over the last two decades, customer retention has become a very hot topic. Every employee – especially new hires – must understand exactly how you expect customers to be treated from first contact, through the sale, and afterwards.

Customer 230

Customer Retention Employee .Net 230

Up and Running

MARCH 11, 2015

He covers broad topics such as net neutrality, but also dives into the specifics of starting a company, touching on things like hiring and employee retention. As president of Y Combinator, the hugely successful seed-stage investor/accelerator, Sam Altman has a lot of knowledge to share.

Venture Capital 60

Venture Capital Technical Review Silicon Valley Cofounder 60

The Startup Magazine

JULY 4, 2017

The software providers include Micro Gaming, playech.com, and Net Entertainment just to mention but a few. The industry has been met with the hacking menace and an online casino needs to invest in hiring professionals to guarantee security of the server. Overall the costs will involve a retention program for the loyal players.

Securities and Exchange Commission 68

Securities and Exchange Commission Software Review United Kingdom Affiliate 68

YoungUpstarts

JUNE 10, 2014

Let’s say your prospect visits a website, or surfs the net, and sees one of your ads. It’s like they hired a team of engineers to design the packaging. Professionalisms customer development customer relationship management customer retention Francois Bondiguel' Using retargeting is a double-edged sword, so use it wisely.

Customer 244

Customer Retention Programming Customer Development 244

Both Sides of the Table

JUNE 17, 2017

If you hire 6 senior sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business 6 months. If you don’t have a strong balance sheet and can’t hire more people that’s fine — but understand this may lead to slower growth. Not necessarily.

Stock Options 227

Stock Options Startup Dilution Venture Capital 227

ReadWriteStart

AUGUST 26, 2022

Good CEOs will look inside and say: “Hey, maybe we’ve been hiring a little bit too much during the sugar rush phase of the pandemic, and what does that mean for performance management? Can we squeeze out more from folks that we’ve hired, and are there things that maybe we have completely neglected? Have we become soft?

Partner 132

Partner Cofounder Retention Acquisition 132

www.reincubate.com

FEBRUARY 1, 2010

Start-ups often hire at one extreme -- closer to a Lead Developer or VP of Engineering -- whereas corporates may focus on their CIO, which is potentially quite a different role. Dan drew up his thoughts around a job description for a web Chief Technology Officer (or Chief Technical Officer), and invited us to follow suit.

Fractional CTO 40

Fractional CTO CTO Technical Review CTO Hire 40

Duct Tape Marketing

JULY 20, 2023

People hire us to do strategy before we'll ever take a look at their website. All of that comes through the end of our process with some reporting back to the client that says, okay, you know, obviously we want a great net promoter score and I know we want to know who the most successful presenters were. I mean, it's strategy first.

Community 60

Community Artificial Inteligence Hosting Technical Review 60

Tim Keane

MARCH 9, 2011

Example one: Sustainable net operating income with some growth in a stable market.    His entire income is based on his personal output and he’d like to hire several woodworkers, expand his sales to existing customers, and generate a profit in addition to his contributed labor.  Possibilities: 1. 

Finance 83

Finance Bootstrapping Startup Equity 83

crowdSPRING Blog

FEBRUARY 10, 2013

When employees are given health and retirement benefits, they are strengthened by knowing that their have a safety net which provides for them and their families. Lean Business Tips: Hiring Contractors for Fun and Profit(ability). Finally, customers also benefit in multiple ways by interfacing with that healthier, happier workforce.

Lean 91

Lean Small Business Retention .Net 91

Austin Startup

FEBRUARY 1, 2018

HOW TO GET HIRED AS A PRODUCT MANAGER The question I am constantly asked is, “ How do I get my foot in the door for a product manager job at a tech company? Product management recruiters look for people who have the general product management skills and also unique skills sought by the hiring manager (e.g., SO, YOU’RE HIRED! …

Management 85

Management Product Technical Review Software Review 85

www.mint.com

MARCH 9, 2010

What is your net outflow per month? If the answer to the question centers around “We will achieve revenue soon so our net will improve and give us more runway,” it means the company is in trouble because no product ever ships on time nor achieves the company’s “conservative forecast.” link] Please feel free to check us out!

Software Review 68

Software Review Startup Post-Money Valuation Technical Review 68

ConversionXL

JULY 21, 2022

How did Outreach grow in just a few years to 50,000 monthly active users , $10 million in new bookings, and net revenue retention (NRR) of more than 140%? Marketing will need to focus on lead generation (new MQLs), and customer success will need to drive retention and feature adoption. Manny Medina, Outreach CEO [via Latka].

Metrics 120

Metrics Acquisition Revenue .Net 120

ConversionXL

SEPTEMBER 28, 2017

One could make the argument that the most important KPI should be LTV, which is “a prediction of the net profit attributed to the entire future relationship with a customer.” Hire a data scientist! A good working equation is: (Average Value of a Sale) X (Number of Repeat Transactions) X (Average Retention Time in Months or Years).

Metrics 121

Metrics Acquisition Conversion Revenue 121

ConversionXL

APRIL 3, 2018

Amazon has hired more people for their Alexa division than Google has for the entire company – it’s not hunch, this is going to be the focus. Hire & fire – tools to do a job. Tara Robertson – How to 10x Growth by Optimizing Customer Marketing & Retention. Start with retention.

Retention 106

Retention Artificial Inteligence Channel Email 106

ConversionXL

JUNE 2, 2022

Sales and marketing collaborate until a deal is closed and beyond to secure long-term customer retention. ABM takes you from fishing with nets to fishing with a spear. You can also use LinkedIn to monitor specific hires and departures, and examine company publications for updates that may show intent. Get executive buy-in.

Customer 98

Customer Marketing Channel Acquisition 98

Occam's Razor

AUGUST 22, 2011

Hyper Focus Your Digital Marketing: Ensure A Clear Line Of Sight To Net Income! Customer Personas, Customer Value, Customer Retention and Non-line Marketing. Hiring a Senior Web Analyst? Mobile Marketing and Analytics: Click-to-Call Mobile Ad Campaigns. Key To Your Digital Success: Web Analytics Measurement Model.

Analytics 124

Analytics Metrics SEM Web 124

ConversionXL

OCTOBER 30, 2019

What about stages three through seven, which can generally be grouped under the “ retention ” umbrella? We know how important and valuable retention is. We’re all familiar with the classic retention stats: Acquiring new customers is 5–25 times more expensive than retaining existing customers. Speed to first value experience.

Retention 101

Retention Metrics Churn Rate Acquisition 101

ConversionXL

FEBRUARY 7, 2014

When a business increases it’s webinar attendance by 1000% & net $40,000 in the first 3 sessions, you should probably listen to what they’re doing right. According to Harvard Business School , increasing customer retention rates by 5% increases profits anywhere from 25-95%.

Software 93

Software Churn Rate eCommerce Flash 93

Duct Tape Marketing

MAY 19, 2011

His latest book, “ Flip the Funnel: How to use existing customers to gain new ones ,” presents a powerful hypothesis that retention can become the new acquisition through the strategic incorporation and elevation of customer service, customer experience and customer initiated word-of-mouth, content creation and incentive-based referrals.

Social Media 32

Social Media Retention Acquisition LLC 32

Reid Hoffman

MARCH 19, 2019

Product-market fit, as defined by Stanford’s Steve Blank, occurs when a product’s features are a strong fit with its market’s needs, as measured by a combination of usage, retention, and sales. Airbnb was a small 40-person company at the time, and Wimdu, raised close to $100 million, hired 400 employees, and opened 20 offices.

Cofounder 28

Cofounder Business Model IPO Non-Compete 28

maplebutter.com

JANUARY 8, 2013

You are here: Home » Hiring » Crazy! Written By Dan Martell on February 2nd, 2012 | Category: Hiring LeanStartup Marketing Metrics Startup Life | 6 Comments. Product/Metrics (70%/30% time) * Get your product activation (sign-up + meaningful action) to 60% * then, Get your product retention to 20% weekly. Persistence.

Technical Review 44

Technical Review Startup Cofounder Software Review 44

Steve Blank

FEBRUARY 26, 2020

Series B is about proving your net revenue model (can you be profitable?). You’ve built detailed analytics tracking into your product and you should be seeing organic and viral growth; and can provide Daily/Weekly/Monthly Active Users, 30d/90d/120d retention. Retention and low attrition are good signs of customer validation.

Cofounder 431

Cofounder Seed Stage Valuation Metrics 431

Both Sides of the Table

JANUARY 17, 2011

The key is channeling what you learn when you drive onto paper for retention purposes so you have to write it down soon afterward. I have a high fear of failure that acts as my safety net. I use tools to invoke my creative self. One example is driving, which has an actual physiological reason it makes you creative.

Technical Review 356

Technical Review Framework Audience Media 356

Duct Tape Marketing

OCTOBER 27, 2021

People hire my firm to do marketing. Dan Gingiss (13:20): And so we often get stuck on metrics like NPS net promoter score. What they have done is they actually hired a guy whose title is storm director. I want to keep doing business with a company like that because they get me, they're paying attention and.

Customer 100

Customer Technical Review Social Media Green 100

ConversionXL

OCTOBER 30, 2019

What about stages three through seven, which can generally be grouped under the “ retention ” umbrella? We know how important and valuable retention is. We’re all familiar with the classic retention stats: Acquiring new customers is 5–25 times more expensive than retaining existing customers. Take HubSpot , for example.

Retention 48

Retention Metrics Churn Rate Acquisition 48

ConversionXL

NOVEMBER 17, 2022

The company once had the market’s highest churn rate and lowest Net Promoter Score (NPS). By switching from manual analysis data to predictive analytics, Sprint could quickly analyze user behavior to spot customers at risk of churn and identify retention offers. The digital analytics metrics you need to know. Conclusion.

Analytics 106

Analytics Metrics Channel Campaign 106

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 17, 2011

You sign up customers faster than your ability to hire quality people, so either existing people are stretched thin or you make the more fatal error of lowering standards to fill chairs. for three months, for a retention after three months of (0.85) 3 = 0.61.

Business Model 245

Business Model Metrics Engineer Technical Review 245

ReadWriteStart

AUGUST 6, 2019

As the business grows, and entrepreneurs feel they have a safety net where there was none before. As those goals evolve, it is also critical to stay focused on the company’s best practices to provide a baseline for ongoing changes that can significantly improve growth, profit margins, and retention rates. But how to stay hungry?

Startup 107

Startup Balance Sheet Retention Employee 107

Hearpreneur

DECEMBER 3, 2021

It could be more revenue, hiring clients or launching a new product or service, where setting goals presents a fresh opportunity to achieve different objectives. I believe we are on the right track for this growth and I'm excited to keep hiring new talent to come join our incredible team! Thanks to Peter Mann, SC Vehicle Hire ! #13-

Entrepreneur 121

Entrepreneur Africa South America Europe 121