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10 Things You Can Do Today to Improve Customer Retention [Podcast Recap]

By October 7, 2020February 2nd, 2021Customer Retention

Had a blast talking about how B2B SaaS businesses can start attacking customer retention issues with Josh Stephens, the CTO of Elsewhere Partners, on his podcast the other day. We covered a lot of ground, so I took the most actionable points and put them here in the show notes below. At some point, I hope to cover all these individual points with individual posts of their own, so stay tuned to the blog for further updates!

Enjoy the show!

Steps to Attacking Customer Retention:

  1. Validate you have a problem
    • Certify your measurements are correct, that they are what you think you’re measuring. Are your stakeholders speaking the same language?
    • Verify you’re not just dealing with statistical noise.
    • Check that you’re measuring both customer and revenue retention.
  2. Ensure that your “retention problem” isn’t just a “all my cohorts go to 0 in <30 days” problem.
  3. Gather the hypotheses “in the building” from all your customer-facing personnel.
  4. Collect and analyze data to support (or refute) those hypotheses.
  5. Establish a Customer Success organization.
  6. Segment your customers by behavior.
  7. Apply appropriate Customer Success approach to each customer segment.
  8. Measure and optimize customer Time to Value (TTV) to get to maximize customer onboarding success.
  9. Help customers fully operationalize your product in their environments.
  10. Give me a call.