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Product should be your main channel for customer acquisition, retention and expansion. It has high close rates and shorter salescycles, and some of the usual metrics are lagging indicators (demos attended, proposals sent, and average deal size). Gaetano explained that it markets to problem-aware, solution-seeking people.
First of all, it means that most aggregate measures of success, like total revenue, are not very useful. Products can find sources of validation with impressive stats along a number of dimensions, such as high engagement, viral coefficient, or long-term retention. This unit of progress is remarkable in several ways. Fantastic post.
So by segmenting your data, you can learn things you couldn’t from the aggregate data. How does retention differ among different acquisition channels? Customers that converted in the last year that had a salescycle of less than x weeks. Did one group see one marketing message that the other didn’t?
Easy does it: The right CRM can work magic, serving as a single platform that can span across the entire breadth of an organization — sharing information and providing value for customer service, sales, product development, management, operations and more. Time to Act With Analytics.
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