Create an Offboarding Flow that Improves Retention

ConversionXL

Yet, offboarding is such an important and under-rated opportunity to provide a positive experience that can actually yield advocates, saved customers, and higher retention. Being able to save a churning customer is the holy grail of retention. Acquisition retention

Top Tips For Staff Retention

YoungUpstarts

Staff retention is the art and science of holding onto your valuable team and avoiding the cost of rehiring, which doesn’t just consist of the immediate cost implications. Why is staff retention so important? What’s the secret of staff retention? If you’re assuming staff retention is all about paying the highest wages, you’ll be pleasantly surprised to learn that’s very far from the case. You can also aid retention by investing in staff training.

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How Management Styles Are Affecting The Retention Crisis

YoungUpstarts

Most organisations struggle through retention crises in spite of paying their employees as per the highest standards. Here’s how different management styles impact retention crises differently. The post How Management Styles Are Affecting The Retention Crisis appeared first on Young Upstarts. Professionalisms employee retention management managing people Michael McCloy workplace cultureby Michael McCloy of Maximillion GPS Adventures.

A Guide to Bringing About Higher Employee Retention Rates

The Startup Magazine

Employee retention should always be near the top of the priority list for any owner of a small business or personnel manager at a larger company. Here are a few things you might consider doing to help increase employee satisfaction and, thus, employee retention rates.

Improving Employee Retention To Build A Strong Team

YoungUpstarts

Do you pay attention to your employee retention rate and whether your top employees are happy? It’s more than the cost of hiring new staff that makes your employee retention rate so important. Professionalisms Ben Hoffman employee retention staff welfare teambuilding workplace culture

6 Critical Employee Retention Mistakes To Avoid

YoungUpstarts

A considerate employer won’t have to worry too much about employee retention due to his own faults. The problem is — many employers fail to understand where they are “at fault” when it comes to employee retention. So, let’s have a look at some of those critical employee retention mistakes that an employer must avoid! Not letting go of bad ones: We know that this topic is about employee retention and how costly it is to recruit another one. by Rochelle Ceira.

Millennial Retention Is all About Purpose; So What Is Purpose?

YoungUpstarts

Common wisdom around millennial retention almost always leans towards keeping them busy with direction. by Nick Craig, President of the Core Leadership Institute. As a young company, you might naturally gravitate toward seeking young talent.

Customer Retention Strategies: 4 Phases for Development

ConversionXL

Has your company’s customer retention rate increased, decreased, or maintained the status quo over the past five years? Are you actively working on retention? Have you outlined and initiated a formal customer retention strategy? A study by Harvard Business School found that increasing customer retention by even 5% can increase profits by 25 – 95%. And yet, the 2019 CMO Survey found that nearly half of CMOs don’t expect to improve retention this year.

Engagement -> Retention -> Growth

Lightspeed Venture Partners

Growth without retention leads to the dreaded sharksfin curve. Conversely, as long as you have good retention, if you add good growth you will rapidly see overall usage increase. The problem with measuring and understanding retention is that by definition it takes time to measure. As a proxy for retention, you can measure engagement instead. I always look at engagement for fast growing social apps to see if the growth is underpinned by strong retention.

How AI Can Help Universities Boost Student Performance And Improve Retention

YoungUpstarts

Armed with AI-powered data insights and automated platforms, higher education institutions see a number of benefits, including improving the admissions process, boosting student retention, automating manual tasks, and improving student experience. Machine learning increases students retention. This extra focus boosts student experience from day one until graduation – resulting in better retention and student performance. by Sanjoe Jose, CEO and Co-founder of Talview.

Improve Customer Retention With 5 Useful Tips

YFS Magazine

Customer Service Grow customer experience customer loyalty customer retentionHere's an inside look at sound
 strategies every small business can use to retain more customers.

Knowledge Retention: How to Protect Your Competitive Advantage

ConversionXL

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. Knowledge retention makes information transferrable. Smaller businesses have an even greater stake in knowledge retention: “they are often more vulnerable than larger organizations in terms of losing key personnel.”.

Employee Retention: 7 Ways To Attract And Keep Top Talent

YoungUpstarts

Thinking Aloud employee management employee retention hiring practices human resources Kevin Faber talent managementby Kevin Faber, founder of Silver Summit Capital. In today’s business world, the ongoing battle to increase profit and competitive advantage rages on like never before. But the playing field has become more crowded and leveled out. As a result, more and more organizations are realizing that their greatest assets are their employees.

Post-Purchase Emails: How to Boost Retention and LTV

ConversionXL

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. ” In one case study, retention marketing software firm Windsor Circle shared how much one of its clients benefitted from strategic post-purchase emails. The post Post-Purchase Emails: How to Boost Retention and LTV appeared first on CXL. Blog email intermediate ltv post-purchase retention

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. Why Is Retention Important? Therefore, focusing your efforts on retention optimization instead of acquisition optimization will yield a higher ROI.

Recruiting and Retention for Women in STEM

Women Entrepreneurs Can

Documentation of retention policies. The post Recruiting and Retention for Women in STEM appeared first on WECAN. Science, technology, engineering, and mathematics (STEM) jobs remain one of the fastest-growing fields with some of the best pay. The Bureau of Labor Standards predicted that overall STEM employment would grow by 13% between 2012 and 2022. In other words, there are plenty of jobs in the field to go around.

Leveraging Technology for a Strong Board Email Retention Policy

Board Effect

Why Do Corporations and Organizations Need an Email Retention Policy? All corporations and organizations need to have an email retention policy because they are subject to many laws, regulations and liabilities. Email retention requirements vary substantially. Courts won’t ask for more information than what an organization’s retention policy requires as long as the policy follows all state laws, federal laws and regulations.

How To Develop Your Customer Retention Strategy

ConversionXL

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? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%. And yet…Forrester found that 70% of CMOs did not list retention as a top priority. Phase 4 – Make Your Retention Strategy Personal.

How to Improve Customer Retention Through Paid Search

Duct Tape Marketing

How to Improve Customer Retention Through Paid Search written by John Jantsch read more at Duct Tape Marketing. But the great thing about paid search is that it’s also a powerful way to improve customer retention. Here are some ways to put paid search to use specifically in boosting customer retention for your brand. Using specific paid search tactics can boost customer retention and ensure the long-term health of your business

The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

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? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%. And yet…Forrester found that 70% of CMOs did not list retention as a top priority. Phase 4 – Make Your Retention Strategy Personal.

The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

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? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%. And yet…Forrester found that 70% of CMOs did not list retention as a top priority. Phase 4 – Make Your Retention Strategy Personal.

3 Customer Retention Strategies All Businesses Can Benefit From

Women Entrepreneurs Can

While many businesses tend to focus on bringing new customers to their business, it’s not uncommon for customer retention to receive far less attention – but established customers have a critical role to play in the success of your business. For your business to enjoy the benefits of a strong established customer base, you will need to focus on customer retention strategies – and here are three particularly beneficial ideas in this regard to keep in mind: 1.

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.

The 4 Phases For Developing A Customer Retention Strategy

ConversionXL

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? In a study by Harvard Business School , it was found that increasing customer retention by even 5% can increase profits between 25-95%. And yet…Forrester found that 70% of CMOs did not list retention as a top priority. Phase 4 – Make Your Retention Strategy Personal.

Creating customers for life: 50 resources on loyalty, churn and customer retention

The Next Web

You’ve seen the data: the Harvard Business School report that showcased how, on average, increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent. Much to everyone’s disappointment, traditional business publications often only have top-level coverage on tactics concerning retention and churn. Gregory Ciotti is the marketing director at Help Scout. This post originally appeared on the Helpscout blog.

After the Purchase: Optimizing Customer Retention Through Gamification

ConversionXL

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. The main objective of retention is to continue ongoing relationships with customers. If not, you may risk losing revenue over lackluster customer retention practices.

The Top 10 Things We Have Learned about Client Retention

Guy Nirpaz

In my last “Top 10″ series for this week, I chose to review another Jeff Bennet’s article: Top 10 Things We Have Learned about Client Retention. Client retention is a critical component to any organization, especially for subscription based revenue model organizations. Therefore, it is important to measure retention rate per subsequent renewal years. Ensuring retention requires hard work and the whole organization should be focus on that.

As it turns out, app retention & conversion are hard

Austin Startup

The report offers engagement, retention, and monetization insights from 572 Financial Services, SaaS, eCommerce, and Media/Entertainment apps, with 1.3b Spoiler : user retention and conversion are hard. Retention The scary reverse-hockey stick chart shows up in this report, too. Retention shows a massive drop one week after install, and continues to gently slope downward through the eighth week.

3 concepts necessary for team retention

Jeff Hilimire

Gene’s position is that the following three focus areas are the keys to employee retention: Create a compelling mission. The post 3 concepts necessary for team retention appeared first on Begin the Begin. Gene Hammett’s article for Inc, 3 Core Principles You Need to Attract and Retain Top Talent , is worth a read for any leadership team. And bonus, in the article he shares thoughts from Mike Popowski , CEO of Atlanta-based Dagger.

Don’t get screwed: Focus on customer retention over acquisition

The Next Web

The post Don’t get screwed: Focus on customer retention over acquisition appeared first on The Next Web. Andrew Fullerton is the VP of Sales at Emarsys. Digital marketers face a big question in today’s world – is it more important to acquire new customers, or retain and nurture their current customer base? It’s a conundrum companies have faced for years. Should marketers go out looking for new leads and improve sales prospects or develop a loyal and valuable customer?

College Retention Partner Upswing Opens Headquarters in Austin after Graduating from Dallas Tech Accelerator

Austin Startup

Higher education in Austin, and the surrounding areas, may see an increase in student retention rates and technology-facilitated learning, if recently migrated company Upswing has anything to say about it. Digital austin startup upswing

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

David Teten

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. However, even people without children often end up having them somehow. .

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. photo credit: flickr and facebook via photopin (license). Many times when businesses talk social media, they’re only talking about social media marketing.

[Infographic] How To Create A Winning Employee Retention Strategy

YoungUpstarts

To create a winning employee retention strategy, companies should be looking at adopting a holistic approach that involves taking a grounds-up approach by identifying the key factors affecting employee turnover and retention, and taking the appropriate actions to correct them. After all, having the right retention strategy will not only benefit your employees but also ultimately enrich the business.

Top Two Reasons for Churn

For Entrepreneurs

Customer Success churn SaaS SaaS churn SaaS customer engagement SaaS customer retention SaaS renewals SaaS retention Startup HelpIn working with a number of SaaS portfolio companies, I have found that there are two causes of churn that occur more frequently than any others. They are: Failure to successfully onboard the customer Loss of the champion who drove the purchase Looking at these in order: Failure to successfully onboard It’s easy to understand.

Is Your Business A Revolving Door? 10 Ways To Keep Your Best Employees

YoungUpstarts

by Rich Armstrong and Steve Baker, co-authors of “ Get In The Game: How To Create Rapid Financial Results And Lasting Cultural Change “ Employee retention and turnover are important terms to every business owner and leader. Making employee retention a priority for your company is essential for continual growth, success and sustainability. One of the most effective employee retention strategies is to give them greater responsibility to make a bigger difference.

7 Smart Strategies To Retain Customers And Increase Online Sales

YFS Magazine

Considering the value of retaining customers, here are seven highly effective strategies that’ll help you achieve strong customer retention rates. Grow Marketing & Sales customer loyalty customer retention marketing

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6 Ways To Retain Employees When Payroll Is Tight

YFS Magazine

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

A ‘People First’ Strategy Is How Great Companies Thrive

YFS Magazine

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

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How To Hold Onto Your Customers In A Crisis

YoungUpstarts

Professionalisms crisis management customer relationship management customer retention membership economy Robbie Kellman Baxter

E-commerce marketing and sales strategies your business should be using

Our Own Start-up

our goal should be to sell more and capitalize on customer acquisition as well as customer retention. Growth Strategies customer service e-commerce E-commerce branding e-commerce business E-commerce customer acquisition E-commerce customer retention E-commerce marketing E-commerce sales

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Want To Become A ‘Best Place To Work’? Focus On Five Things

YFS Magazine

Company Culture Grow company culture employee retention leadership workplace developmentBy YFS Magazine. This wasn’t our first time on a 'Best Places to Work' list. How did we get here? Develop a winning workplace with these 5 tips.

Great Reasons To Have A Membership Program For Customers

YoungUpstarts

Usually, membership programs are part of a customer retention strategy wherein the business offers rewards to customers who often make purchases from them. Others customer retention loyalty program membership program