Retention is emerging as the new shiny object for startups in 2024. Acquisition and growth hacking are so 2010s. ๐
Startup leaders are making retention a priority early on - here's why:
๐ Retention drives growth - Getting new users is great, but keeping them is what really moves the revenue needle. Retention boosts lifetime value.
๐ It costs less - Investing in retention marketing to existing users costs way less than constantly acquiring new ones. Be efficient!
๐ Momentum matters - Keeping that flywheel spinning with engaged users creates momentum that makes growth compound faster over time.
๐ Word of mouth - Loyal, satisfied users become advocates that organically attract new users through referrals and social word-of-mouth. Marketing heaven!
๐ Data payoff - When you retain users longer, you get more customer data to optimize your product and marketing. Quicker feedback loop!
So being retention-focused from the start can really pay off big time for startups. Just don't neglect acquisition entirely - you need both! As we teach our startup clients, aim for a flywheel effect between the two. That's how you build an empire ๐ชย
Kommentare