How to Drastically Improve Customer Retention #2027

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 7 March 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2027, Neil and Eric unpack their methods for how to drastically improve customer retention. If you’re struggling with customer retention then there are several things that could be causing it, from your positioning to your customer service. Tune in to find out how to identify what is causing more churn than you’d like and how to turn things around! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: How to Drastically Improve Customer Retention. [00:30] A summary of our definition for customer retention. [01:11] The recommended metrics for customer retention in B2B and SaaS businesses. [01:36] Seven Powers, the concept of switching costs, and how they help retention. [02:27] How communicating with customers and finding out about their needs can improve retention. [03:02] How to use LinkedIn to improve customer retention through your hires. [03:20] Why you need to do continual customer development to ensure retention. [04:18] Why product customer fit and positioning are essential for retention. [06:16] That’s it for today! Don’t forget to rate, review and subscribe! [06:26] Go to https://marketingschool.io/live to learn more! Links Mentioned in Today’s Episode: 7 Powers: The Foundations of Business Strategy Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips
0:06.4	and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.4	Let's start leveling up your marketing knowledge with your instructors, Neil Patel, and Eric
0:16.8	Sue.
0:18.1	We got a special message from our sponsor.
0:22.8	If you want to rank higher on Google, you've got to look at your paid speed time.
0:27.3	The faster your website loads, the better off you are.
0:30.1	With Google's Corvital update, that makes it super, super important to optimize your
0:34.1	site for low time.
0:36.3	And one easy way to do it is use the host that Eric and I use, DreamHouse.
0:40.8	So just go to DreamHouse or Google it, find it, check it out, and it's a great way to
0:45.7	improve your low time.
0:47.7	I want to take a second to tell you about my podcast co-hosts agency, so NP Digital.
0:53.5	So Neil Patel Digital, what they do is they do a whole host of marketing services and
0:59.4	they are global.
1:00.4	They're worldwide.
1:01.4	They have SMB services as well.
1:03.2	They have mid-market to enterprise services as well.
1:06.4	They cover the entire gamut.
1:07.4	So you can just go to MPdigital.com to learn more about it and now back to the episode.
1:14.0	All right, guys, before we start, we got a special message from our sponsor.
1:19.8	If you want to rank higher on Google, you got to look at your paid speed time.
	...

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