Knowledge Retention: How to Protect Your Competitive Advantage


Knowledge retention is a process for identifying. Knowledge retention isn’t a corporate nicety. Successful knowledge retention programs answer three key questions: What knowledge may be lost? Why knowledge retention matters. What makes knowledge retention so hard?

6 Critical Employee Retention Mistakes To Avoid


Employee turnover is a serious cost most companies are usually worried about. The reason why this is so is simple: there are significant costs to replacing employee. A considerate employer won’t have to worry too much about employee retention due to his own faults.

Improving Employee Retention To Build A Strong Team


Do you pay attention to your employee retention rate and whether your top employees are happy? A 2017 report from Employee Benefit News (EBN) asserts that on average, it will cost the employer 33 percent of the employee’s annual salary to replace his or her position.

Employee Retention: 7 Ways To Attract And Keep Top Talent


Losing a top employee is costly in a number of ways. As The Wall Street Journal points out , “Experts estimate it costs upwards of twice an employee’s salary to find and train a replacement.” But the costs aren’t only monetary. by Kevin Faber, founder of Silver Summit Capital.

Post-Purchase Emails: How to Boost Retention and LTV


Though the remaining 58% understand the importance of customer loyalty and retention, they may find it difficult to execute and analyze customer happiness and conversion campaigns. Globally, the report estimates returns cost brands $642.6 Reducing the Cost of Returns.

How To Develop Your Customer Retention Strategy


Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? And yet…Forrester found that 70% of CMOs did not list retention as a top priority.

After the Purchase: Optimizing Customer Retention Through Gamification


Why Gamify Customer Retention? We borrow the mechanics of traditional games and apply them to uncommon concepts, like customer retention. A study in the Harvard Business Review noted that increasing customer retention by 5% can generate a 25%-95% increase in profit.

How to Project Customer Retention for a Subscription Business

Lightspeed Venture Partners

Recently, Eric Liaw sent us a very interesting May 2006 paper entitled “How to Project Customer Retention”, authored by marketing professors Peter Fader (Wharton) and Bruce Hardie (London Business School) and published in the Journal of Interactive Marketing in 2007. In it, the professors explain how previous attempts to project retention rates using line-fitting regression models failed, even after introducing quadratic or exponential functions.

Captive Insurance Can Free Up A Business In Costs, Coverage


If done properly, forming a captive insurance company can dramatically lower the excessive cost of paying a traditional insurance company by eliminating the cost of overhead, marketing, agent commissions and underwriting profits baked into your premiums. by Peter J.

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The 4 Phases For Developing A Customer Retention Strategy


Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? And yet…Forrester found that 70% of CMOs did not list retention as a top priority.

The 4 Phases For Developing A Customer Retention Strategy


Has your company’s customer retention rate increased, decreased or remained status quo over the past five years? Have you outlined and initiated a formal customer retention strategy? And yet…Forrester found that 70% of CMOs did not list retention as a top priority.

Why Misunderstanding Startup Metrics Can Cost You Your Business

Both Sides of the Table

The key to being able to run a business that isn’t yet profitable (on operating margin) is availability of capital to finance losses and preferably at a cost that isn’t too punitive to the founders and employees. Customer acquisition cost.

The True Cost Of Poor Leadership


While poor management has a financial cost, it also has a wider detrimental cost to a business, as well as individuals. So, what exactly is bad leadership costing your business and what can be done to safeguard against it? Employee retention.

6 Ways To Retain Employees When Payroll Is Tight

YFS Magazine

Many small businesses struggle with the revolving door of employee turnover at a high cost. Grow Human Capital employee retention employee turnover HR human resourcesBy YFS Magazine. Here are six ways to remedy the situation.

A family-friendly work environment is a powerful recruiting and retention tool

David Teten

The first five cost an employer zero or near zero dollars. . The post A family-friendly work environment is a powerful recruiting and retention tool appeared first on David Teten. My wife and I have a lot of conversations about work-life balance, or as I usually think of it, making sure I don’t use up too many “spouse points”. Many early-stage companies do not have these issues top of mind, because so many founders are pre-children.

8 Social Media Hacks to Increase Customer Retention

Duct Tape Marketing

8 Social Media Hacks to Increase Customer Retention written by Guest Post read more at Duct Tape Marketing. In this blog, I want to talk about 8 social media hacks to help your business increase customer retention and loyalty.

CEO Kryptonite - What Savvy Company Leaders Avoid At All Costs


Superman knows he must to avoid kryptonite at all costs if he wants to continue fighting for “truth, justice, and the American way”. Like Superman, there are certain things that savvy CEOs will avoid at all costs in order to stay strong.

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[Sponsored] Online Health Insurance Tool Eliminates ‘Pain Points’ And Improves Cost Control, Employee Loyalty


Today, I want to talk about what UnitedHealthcare’s online tool is doing to improve, streamline, and control health insurance costs for small business owners. Cost control. Cost control. by Susan Solovic , THE Small Business Expert.

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A ‘People First’ Strategy Is How Great Companies Thrive

YFS Magazine

Employee retention is important for businesses large and small. Losing team members is not only disruptive, it’s also costly and time-consuming. Grow Human Capital company culture employee retention HR human capital human resources

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[Singapore] Local ICT Industry Cite Manpower Cost As Key Challenge


Information and communications technology industry players in Singapore claim that manpower costs due to recent changes to the country’s foreign manpower policy are likely to be the biggest challenge this year, according to the Singapore infocomm Technology Federation (SiTF).

The Remarkable Cost Of Poor Customer Support On Your Bottom Line


The Remarkable Cost Of Poor Customer Support On Your Bottom Line. Poor customer support costs US businesses $84 billion a year! Most companies choose to dedicate more attention and resource to customer acquisition, instead of retention.

7 Ways to Maximize the Productivity of Your Employees

The Startup Magazine

The most straightforward way to do this is through a time tracker like Toggl , which will help you identify tasks and areas of work that cost your employees a disproportionate amount of time. Every supervisor wants to get more out of their employees.

How To Retain The Best Employees


Why does employee retention matter? Employee retention is key to surviving. Failing to keep your best employees is more costly than you think. 10 proven employee retention advice. Below are 10 proven employee retention advice that will help you keep your them.

4 Electronic Data Tools Used By Global Companies

The Startup Magazine

For a startup, it saves on the cost you incur in waiting for the mail to be sent back. Tracking employee retention. High-tech electronic data tools have revolutionized the way businesses operate nowadays. It is now possible for companies to run effectively and become profitable.

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Startup Success: HR Basics For Building A Happy Team Of Employees


It might cost you a penny or two, but it’s definitely cheaper than breaking the law with a dodgy contract. #3: Others employee management HR human resources managing talent staff retention startup advice

Is Your Factory Failing To Retain Its Best Employees?


The result has been higher turnover and added costs for owners. As a result, it’s employee retention should be a priority for your company if it is going to keep its skill base and be competitive on the global stage. Take a look at these ideas for improving employee retention.

Marketplace KPI Dashboard

Version One Ventures

In addition to take rate, we can evaluate business efficacy by calculating the total customer acquisition cost (CAC) of buyers and sellers/suppliers as a percentage of revenue. GMV retention: average percentage of Month 1 GMV generated by sellers/suppliers in Month 12.

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Five Tips For Startups To Reduce Customer Churn


Finding new customers costs time and money. But as the company grows, it’s important to make the transition from acquisition to retention. Professionalisms customer acquisition customer retention John Rode sales sales lead management

5 Techniques Every Startup Can Use to Retain Customers

Up and Running

When you’re starting up, worrying about customer retention seems a million miles away. But eventually, when you’ve won your 500th customer and you still have yet to fully focus on retention, you’ll be missing a big trick. Customer retention needs to be woven into your business.

Five Mistakes Organizations (Unknowingly) Make That Drive Customers Away


In other words, you’re directing too much money toward acquisition and hardly any toward retention. The cost of acquisition is so much higher than the cost of retention, so why not invest more in the cost — in the tools of retention — to maximize that multiplier?

Profiting From Resentment: How To Measure And Neutralize The “Bad Profits” That Drive Customers Away


” While that depends on the industry and the switching costs — more competition leaves less room for detractors, for example — a common threshold is to obtain no more than 10 percent of revenue from detractors.

How Loyal Are Your Customers? Six Tips For Measuring This Crucial “Growth Predictor”


With some estimate of the number of promoters you need to gain a new customer, you can then weigh the cost of new programs, features, pricing, and promotions to determine if the benefit from new customers outweighs the cost. by Jeff Sauro, author of “ Customer Analytics For Dummies “.

How To Market Better and Grow Your Small Business Faster Using The Psychology of Reciprocity

crowdSPRING Blog

Practical Ecommerce looked at the benefits Zappos got from this “act of customer service heroism”: It almost certainly cost Zappos money. Gameklip does this in a very simple and low-cost way: they include a package of candies (specifically Smarties) with every order.

Are Summer Fridays Working For Your Business?


While the mention of extra time off will likely make for a happier staff, business owners may wonder how much this happiness is costing the business. First, an owner must determine the true cost of summer hours. by Barry Sloane, President and CEO of Newtek Business Services.

How to Maximize Sales from Abandoned Carts with Cart Regeneration


They’re shocked by your shipping costs. According to Business Insider, the number one reason that consumers abandon their carts is because they are unprepared for the shipping costs associated with their purchase. Blog beginner cart regeneration ecommerce email marketing retention

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Surprise Is One Of The Most Powerful Small Business Marketing Tools

crowdSPRING Blog

Surprise is more effective than other forms of retention-based marketing. Surprise is a more effective marketing tool than nearly all forms of retention-based marketing. Adopting a ‘surprise’ strategy thus requires a careful analysis of the costs and benefits (e.g.,

From Loyalty Programs To Fan Clubs, A Paradigm Shift


I wanted to find a way to vastly simplify loyalty programs, eliminating most if not all of the costs and making them much lighter to deploy and manage. Throw in some basic CRM processing and analytics, and merchants can get 90% of what loyalty programs provide, for a fraction of the cost.

Practical HR Solutions For Today’s Workplace


Retention. It will allow you to hire and retain the best employees, minimize the risk of penalties or costly employment litigation, and focus on the bottom line. Professionalisms company culture hiring human resources staff retention

What You Need To Know About The Churn Rate And How To Fight It


There are 3 major metrics that will determine the overall success of a SaaS vendor: Customer Acquisition Cost (CAC). Cost has to equal value. Some services offer a lower cost per month for customers willing to sign up for a yearly subscription.

Customer-Centric Strategies Win Over Product-Centric

Startup Professionals Musings

The costs and lifetime value models are different for each of these types, so they shouldn’t be lumped together. The customer lifetime value also must consider the customer stage (search, conversion, retention, advocate) and the profit you expect in total.

Why I Unsubscribed 83,000 Emails (and Think You Should, Too)


Reduce the Costs. Costs Reduced. Reactivating cold leads and removing the frozen ones is a good idea if you’d like to: Cut down your costs. Blog Email Marketing email intermediate reactivation retention

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The Gamification Behind Loyalty Cards

Up and Running

Why do they work and at what cost to the brand? Operations & Productivity Sales & Marketing brand loyalty customer relationships customer retention

6 Reasons Why Your Small Business is Losing Customers (And What You Can Do About It)

crowdSPRING Blog

And, a sharp tone, lengthy delays, or a poor resolution all have the power to cost your business a customer. So, if you’re not paying attention to your customer service policies and performance, there’s a good chance that neglect is costing you customers.