article thumbnail

Retention Optimization: How to Increase the Value of a Conversion

ConversionXL

Well, it’s retention. (No, Consider that 40% of an ecommerce store’s revenue is created by 8% of its customers and that 82% of companies agree that retention is cheaper than acquisition. If retention (a long-term relationship) is your focus, your funnel can be optimized to encourage people to convert again and again. Tweet It!].

article thumbnail

Acquire New Users by Adding Growth Hacking to your Marketing Strategy

ConversionXL

Neither would have achieved virality had customers not received something tangible for their efforts. You can calculate retention using the following formula: Customers at the end of the period – new customers gained within the period / the number of customers at the beginning of the period x 100 = customer retention rate.

Retention 113
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 Reasons For Your Business To Embrace Social Media

Startup Professionals Musings

It highlights the story of how United Airlines paid no attention to social media while Dave’s story of his crushed guitar and poor customer service went viral around the world. Maximize customer retention. Courting them with ongoing updates and special offers through their social networks is a natural way to keep their loyalty.

article thumbnail

27 Entrepreneurs Share Tips on Building an Ecommerce Business

Hearpreneur

As soon as you have 2-3 months' worth of sales data to work with, use a formula to calculate stock reorder levels to ensure you always have stock ready to go, especially if you're promoting your products on platforms known for viral content, like TikTok. But if you are an introvert, all this public speaking and networking may terrify you.

eCommerce 133
article thumbnail

Lessons Learned: The three drivers of growth for your business.

Startup Lessons Learned

is an elegant way to model any service-oriented business: Acquisition Activation Retention Referral Revenue We used a very similar scheme at IMVU, although we werent lucky enough to have started with this framework, and so had to derive a lot of it ourselves via trial and error. But its not really viral growth, even when its exponential.

article thumbnail

Increase Repeat Purchases with Cohort Analysis

ConversionXL

The second relies on retention. Cohort analysis can be done for revenue, churn, viral word of mouth, support costs, or any other metric you care about. We had a client selling personalized jewelry who discovered through a retention analysis that 40% of his products didn’t drive any repeat purchases. The second type is winning.

Retention 126
article thumbnail

How to Choose Digital Marketing Channels for Long Term Growth

ConversionXL

Search engine marketing is intent-based keyword bidding on search networks such as Google Adwords and Microsoft Bing. There are many who aren’t doing it well , but to me it seems this is a natural extension of any other acquisition channel, and a super important lever for retention and relationship building. Unbounce blog.

Channel 118