Driving exponential Growth is every business's dream. However, 📈 Growth has become the center of focus in a marketing strategy, while retention is often overlooked. Here are five tips for creating retention loops :
🎯 Ensure you have a compelling value proposition: Your service should solve a real problem for your customers effectively, which means you must research your customers' current pain and struggles. A correct value proposition aims to show the value of your service throughout every interaction with your business.
🤳🏽 Make sure your onboarding process is simple and intuitive: Customers must start using your product immediately without getting stuck or confused. If your customer is new, show the wow factor as soon as they habituated to your service. Use drip campaigns to help users get value from your product early on while providing tips and personalized features.
🎙 Create feedback loops: Great customer service will allow you to get information on the current pains of your customers. Be bold and ask for feedback. The more information you get from customers about their experience with your product, the better equipped you'll be to make improvements.
🧐 Use analytics to track customer behavior: Set up automated triggers based on user behavior (such as when someone uses certain features) so that you can see how—and where—your customers interact with your product. You'll be able to identify where they're dropping off, promoting updates in your product that will help them stay engaged.
🖇 Be user-friendly: It's not a secret that the more steps it takes to complete a task, the less likely people will do it. You need to reduce complexity by mapping out every step and challenging them against six factors: time, money, physical effort, the mental effort it takes, and non-routine. You should cut out as many steps as possible between the first point of contact and wow-moment.
I think the best approach to excellent retention is to start with a clear product design that will be optimized using analytics and feedback. I know Emilia Korczynska is great at that :)
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