Customer Attrition
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
46 topics found for:
“customer retention”
Churn
The rate at which customers stop using a product or service, often used as a metric to measure customer retention. Crucial for understanding customer behavior and improving retention strategies.
Churn Rate
The percentage of customers who stop using a product or service during a specific time period. Essential for understanding customer retention and identifying areas for improvement.
Customer Loyalty
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.
Customer Life Cycle
The stages a customer goes through from awareness to purchase and post-purchase activities. Important for designing strategies that optimize customer acquisition, retention, and satisfaction.
Retention
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
CAB
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
CSM
CSM (Customer Success Management) is a business methodology focused on ensuring customers achieve their desired outcomes while using a product or service. Crucial for driving customer retention and satisfaction.
CX
Customer Experience (CX) is the overall perception and feeling a customer has when interacting with a company, its products, or services. Crucial for ensuring positive interactions with a company, driving loyalty and satisfaction.
RFM
Recency, Frequency, Monetary (RFM) analysis is a marketing technique used to evaluate and segment customers based on their purchasing behavior. Essential for targeting high-value customers and optimizing marketing strategies.
Cross-Selling
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
Value Proposition
A statement that explains the unique value a product or service provides to its customers, differentiating it from competitors. Essential for communicating the benefits and advantages of a product to attract and retain customers.
Retention Rate
The percentage of users who continue to use a product or service over a specified period, indicating user loyalty and engagement. Essential for assessing the effectiveness of user retention strategies and improving user experience.
CES
Customer Effort Score (CES) is a metric that measures how much effort customers have to put in to interact with a product or service. Crucial for identifying friction points and improving user experience in digital products.
CSAT
CSAT (Customer Satisfaction) measures how products or services provided by a company meet or exceed customer expectations. Essential for understanding customer needs and improving product offerings.
TTV
Time to Value (TTV) is a metric that measures the time it takes for a customer to realize the value of a product or service after purchase. Crucial for optimizing customer satisfaction and improving business outcomes.
Relationship Intelligence
The use of data and insights to understand and manage relationships with customers and prospects. Crucial for enhancing customer engagement and building stronger relationships.
Converted Lead
A lead that has successfully become a customer. Crucial for measuring the effectiveness of marketing and sales strategies.
Product-Led Growth
A business strategy where the product itself is the primary driver of customer acquisition, retention, and expansion, often through user experience and engagement. Essential for leveraging the product to drive business growth and achieve market success.
Brand Loyalty
The tendency of consumers to continuously purchase the same brand's products over time. Essential for driving repeat business and ensuring long-term brand success.
AARRR
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
Personalization
The process of tailoring a product or experience to meet the individual needs and preferences of users. Essential for enhancing user engagement and satisfaction by delivering relevant experiences.
Onboarding
The process of guiding new users through the initial stages of using a product or service, helping them become familiar with its features and benefits. Essential for enhancing user retention and satisfaction by ensuring a smooth introduction to the product.
Brand Experience
The totality of all interactions a customer has with a brand, shaping their overall perception and relationship with the brand. Essential for building strong customer relationships and fostering brand loyalty.
First Touch
The initial interaction a customer has with a brand. Important for understanding the beginning of the customer journey.
Omnichannel
A seamless and integrated customer experience across multiple channels, such as online, mobile, and in-store. Crucial for providing a consistent and cohesive user experience, enhancing customer satisfaction and loyalty in digital products.
BTL
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
Lovemark
A marketing concept that describes brands that inspire loyalty beyond reason, creating an emotional connection with consumers. Crucial for building strong brand loyalty and emotional engagement.
Brand Equity
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty. Crucial for understanding the long-term value of a brand and its impact on business success.
Product Engagement Score
A metric that measures how engaged users are with a product, often based on usage frequency, feature adoption, and user feedback. Crucial for assessing user satisfaction and identifying areas for improvement in the product experience.
Endowment Effect
A cognitive bias where people ascribe more value to things merely because they own them. Useful for understanding user attachment and designing persuasive experiences.
Reciprocity
A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation. Important for designing user experiences and systems that encourage positive reciprocal interactions.
MRR
Monthly Recurring Revenue (MRR) is a metric that quantifies the predictable revenue generated each month from customers. This metric is crucial for SaaS companies to track financial health and growth.
Choice-Supportive Bias
The tendency to attribute positive qualities to one's own choices and downplay the negatives, enhancing post-decision satisfaction. Useful for understanding user satisfaction and designing experiences that reinforce positive decision outcomes.
ARPA
Average Revenue Per Account (ARPA) is a metric used to measure the average revenue generated per user or account. Crucial for understanding and optimizing revenue streams in subscription-based businesses.
Annual Recurring Revenue
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
Entry Point
The first interaction or touchpoint a user has with a product or service, crucial for making a strong first impression. Crucial for designing engaging and intuitive initial user experiences.
Recommendation Engine
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
Activation Rate
The percentage of users who take a specific action that signifies they are engaging with a product or service. Important for measuring user engagement and the effectiveness of onboarding processes.
Cognitive Ease
The tendency for people to prefer things that are easy to think about and understand. Important for designing user interfaces that are intuitive and easy to use.
Foot-in-the-Door Technique
A persuasion strategy that involves getting a person to agree to a small request to increase the likelihood of agreeing to a larger request later. Crucial for building user commitment and enhancing marketing and sales strategies.
Content-Based Filtering
A recommendation system technique that suggests items similar to those a user has shown interest in, based on item features. Important for providing personalized recommendations and improving user satisfaction.
Community Building
The process of creating or enhancing a community among individuals with common interests, goals, or values. Crucial for fostering user engagement and loyalty through shared interests and values.
Collaborative Filtering
A recommendation system technique that makes predictions about user interests based on preferences from many users. Essential for personalizing user experiences and improving recommendation accuracy.
Pain Of Paying
The psychological discomfort experienced when parting with money, influenced by the payment method and context. Crucial for understanding spending behavior and designing payment systems that mitigate discomfort.