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Churnrate was high for a service that many organizations saw as a “nice to have.” Turns out, getting high-quality blog content delivered consistently was a big one. “If I know this language sounds formal and stuffy, but high-ticket service salescycles are long. I knew we needed to change things up to survive.
For us at CEO Blog Nation, we get it. Face-to-face engagement is important, especially at vital points in the salescycle or while creating relationships. The traditional push marketing approach has given way to a new approach that entails engaging customers through social networking, blogs and video.
More specifically, email drip marketing involves delivering the right content to the right recipient at the right time based on how a user interacts with your brand and where they are in the salescycle. The problem, though, is as your company grows, so, too, does your churnrate. Growth is good, of course.
Depending on the nature of your business, it could be the number of clicks, time on the website, pages viewed, downloads, email/blog subscription, or trial signup. Customer churnrate: shows the percentage of customers lost in a given period (e.g., canceling their subscriptions or not making a repeat purchase.).
Some companies are able to find it straight out of the gate and to other (very successful) companies, it took 4+ years to get to PMF as you can see in the chart below from Lenny’s blog. It’s a journey of discovery, iteration, and sometimes complete reinvention. Don’t be afraid to pivot.
In my case (LucidEra -- a SaaS analytics provider focusing on sales, marketing, and financial analytics), weve found that success requires not only building some best practices for analytics into our solution, but also coming up with a repeatable and scalable way to show the customer how to use the analytics and how to interpret the results.
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