Sometimes software founders are a weird bunch. They've built their businesses on open source software and the contributions of people who've done a lot of work for free. They've benefited at great length from infrastructure and tooling built on open standards that facilitate free exchange of data and ideas. Yet when it comes to their … Continue reading The Case Against Vendor Lock-In: Why Easy Exit Means Better Retention
Category: Churn & Retention
Customer Retention: How to Keep Them Around
When it comes to customer relationships, momentum is on your side: it is much easier to retain a customer than it is to find a new one. Once the initial inertia is surpassed, the effort that needs to be put into keeping a customer is significantly lower than acquiring and onboarding another customer. And a … Continue reading Customer Retention: How to Keep Them Around
Churn, Retention, and Revenue: What Makes Customers Stick Around and Why That’s Important
Retaining a customer is easier than finding a new one. You already have an open communication channel. They're already interested in hearing from you. You also know their behavior patterns, and you can infer how much and how effectively they use your product from your metrics. On average, a 5% increase in customer retention leads … Continue reading Churn, Retention, and Revenue: What Makes Customers Stick Around and Why That’s Important