#customer-retention

#customer-retention

Sometimes software founders are a weird bunch. They've built their businesses on open source software and the contributions of people who've done a lot of work for free. They've benefited at great length from infrastructure and tooling built on open standards that facilitate free exchange of data and ideas. Yet when it comes to their own software business, they hold the opinion that you should have as much vendor lock-in as possible when it comes to your users.

Executives, "on average, attribute 63% of their company's market value to their overall reputation." We tend to attribute high market valuations to tangible assets, such as technology or sales. The reality is that most of a company's financial power is intangible-it rests on the trust of its stakeholders. This statistic highlights a profound strategic truth: Longevity isn't about surviving but about investing in and mastering reputational capital.

Tribes and communities are deeply ingrained as important in the human psyche. By leveraging this fact, you can more efficiently increase engagement and foster loyalty among your customers, regardless of the type of product you're selling. This goes for almost all companies. That's not to say that some types of products and services aren't more or less suited, but except for a few specific niches, almost any can benefit to some degree from a community.

Andrew Lissimore has been running the audio apparel site Headphones.com for nearly a decade now. While audiophiles have a high affinity towards their gear and want to try out new gadgets, Lissimore wasn't satisfied with continuously spending money on platforms like Meta and Google to acquire new customers; he wanted to find a way to better retain the customers he already had.

As hype around generative AI continues to rattle the software sector, more specialized software companies may be among the most resilient players and the most underappreciated. RBC Capital Markets wrote on Wednesday that vertical software - tools specifically designed for industries such as healthcare, insurance, and industrial design - could weather AI disruption in the near term and benefit from it in the long run.

You're known as the systems guy. Do you have a system for generating ideas when a business is stuck, or even starting to flatline? How can someone replicate that to breathe new life into their own business? Michalowicz: Absolutely. Idea generation is a skill, not a talent. And like any skill, it gets better with practice. The best way to start is by using a method to structure your brainstorming, especially when you're learning to flex that creative muscle.

Learning and Development (L&D) departments often face pressure to demonstrate their value while operating with constrained resources. In the face of economic turmoil or unpredictable market conditions, customer training can present a promising avenue for L&D departments looking to drive significant business impact. This article explores how leveraging existing L&D resources can enhance customer education initiatives and ultimately transform L&D from a perceived cost center into a vehicle for revenue growth and retention.

"We make really effective products that help couples get pregnant. Sometimes we get them pregnant too fast, which is great for being a human and for helping people. But not so great for business."

Guild's customer-for-life strategy emphasizes retaining the retail LO as the primary contact for borrowers throughout the entire relationship—from origination to loan servicing.

E-commerce brands face unique marketing challenges that require innovative strategies to navigate acquisition costs, attribution issues, market saturation, and a complex digital landscape.

Non-GamStop casinos recognized that some UK players had sought alternatives to GamStop-regulated sites due to exclusion policies or simply seeking something different in terms of gaming experiences.