At Collision, one of the largest tech conferences in the world which shifted its latest version to Toronto, Des Traynor, C0 Founder Intercom – focused on Retention being more important than conversion. This resonates with me because we have been talking about “Buying is the new Selling” for a while and it sort of dovetails into this major shift happening in today’s transaction ecosystem. Traynor reiterates some known points and makes some new connections :
1. Zuora got it bang on, we are in a subscription economy. In this world “subscription businesses enable you to think about marketing as a function of delivering customer success”.
2. It is more important than conversion – this we knew. It is also about getting “the right customers in and have them stick……Activity and retention is what makes your business successful, not signups.”
3. Measure your Net Dollar Retention.
4. If retention is key what is the key attribute? High customer retention is built on great product on boarding. Des Traynor then goes on to explain in great detail how to set up your on boarding system. I am getting everyone in my team to read this post. You may want to, too.
The link is given below –
https://www.intercom.com/blog/videos/onboard-signed-users-satisfied-users/
