How do you get people to spend $3,000 online for a sofa they’ve never couchsurfed? And how do you increase sales while decreasing cost of customer acquisition?
In this episode of Retention Masterclass Peggy Ann Salz and John Koetsier chat with Ian Leslie, CMO at Industry West. Industry West supplies modern furniture to the likes of Facebook, Airbnb, and Google ... and you! The company has seen consistent 25-30% growth over the past few years, and AOV for repeat visitors is massive. In a pandemic, their online-first retail sales approach is working better than ever.
Personalization leading to retention.
Any mobile marketer wants better engagement and higher retention. One of the ways to get there is applying the right frameworks with the right tools to build and deepen connection with your users and customers.
(It also helps to have a great mobile app ...)
In this episode of the Retention Masterclass video podcast, my co-host Peggy Anne Salz and I interview the godfather of the mobile growth stack, Andy Carvell, a partner at the mobile growth consultancy Phiture. Yes, that mobile growth stack with no fewer than 58 separate boxes across multiple rows like Acquisition and Monetization and pillars like Channels.
- mobile growth stack (or blob!)
- Best channels to boost engagement
- and much more ...
You don't get 7 million TED talk views for nothing. Rory Sutherland is the Vice Chairman of Ogilvy UK and the author of “Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life.”
And we had a wide-ranging, crazy, seminal, wonderful, and entertaining discussion! A short list of the topics we hit:
Why marketing is not physics
Why linear thinking doesn’t make quantum breakthroughs
Why brands should START with retention before anything else
Alchemy and magic
AB testing (yes, he uses data!)
What Uber’s killer feature really is
How brands really only need to done one thing brilliantly to be successful
Hotels and weatherproofing
Why Tesla’s dog mode made a non-dog-owner want to buy one
DoubleTree’s chocolate chip cookie
Rory’s friend Dave
Why brands should ask their customers to do them a favor
How brands can get COVID-19 era marketing horribly wrong
Delivering drinking water in vans
Brand loyalty to customers
What Amazon gets right
Why your price should probably be higher to sell more
Nespresso versus Maxwell House
The beautiful insanity of Dyson vacuums and hair dryers
Use data to exploit versus using data to explore
Data versus common sense
P values (in analytics and statistics)
You're not seeing double. It is very meta, but we have a top exec from THE MasterClass ... the one with teachers like Serena Williams, Martin Scorsese, Dr. Jane Goodall, Natalie Portman, and Gordon Ramsey ... on Retention Masterclass, the podcast.
In this episode of Retention Masterclass, Thomas Hopkins, who leads performance and lifecycle marketing at MasterClass, speaking about:
- retention (of course!)
- why they went full-meal deal on their subscription
- the North Star metrics he lives by at Masterclass
- what he's using this COVID-19 break for
... and much more!
Do marketers have funnel vision? Do they have the right tools, tech, and tactics for customer retention? And the right teams working in harmony?
Rebecca Nackson, who led marketing for teams at iHeartMedia, Audible, IBM, and multiple startups, talks to Peggy Anne Salz and John Koetsier about marketing, retention, and acquisition ... and the changes taking place with Coronavirus sweeping the planet.
- customer journeys
- "messaging moments"
- 3T: teams, tech, tactics
- segmented by recency, frequency, and monetization
- marketing spend and focus in the COVID-19 or Coronavirus era
If your brand disappeared tomorrow … would anyone care?
Peggy Anne Salz and John Koetsier interview CleverTap's head of brand Charles Orlando. He's a 25-year veteran of marketing, branding, and telling stories, with stops at Cisco and Intuit as well as Humanity.
We talk about:
- what does "magnetic" mean for a brand?
- how does a brand become magnetic?
- what does "brand" really mean? and where does it really exist?
- companies that are doing it right
- brands that are doing it wrong
... and MUCH more!
Jessy Hanley has led marketing and retention roles at Uber and Wag, and she's now leading similar efforts at a multi-billion-dollar global brand.
In this episode, Peggy Anne Salz and John Koetsier interview her to learn the secrets of retention in on-demand marketplaces, and she shares her insights on cohorts, peeling back the onion of what an app or service does, and much more.
- segmentation via RFM: recency, frequency, and monetization
- the GREAT product lifecycle: greet, ramp, evolve, amplify, and treasure
- why you never just look at averages
- heart metrics and head metrics
- brand magnetism and it's impact on users & customers
- the happy path (for customers)
- and the unhappy path
... and much, much more!
According to AppsFlyer, brands are spending $60B this year to acquire new mobile users. But within a week marketers have lost nearly 66% of their users. That means 40 to 50 billion dollars will almost literally just go up in smoke.
BUT ... if you just spent a fraction of those billions fixing retention … and building the kind of brand experience that would attract new organic customers … you’d be way ahead.
Today we talk with Sunil Thomas, co-founder and CEO of CleverTap, which solves retention for more than 8,000 apps. How? He built a platform that enables individualization at scale and scalable analytics that are instantly actionable to save customers or users from churning.
We chat about that, and the framework that you can use to make it happen. We also talk about how you can automate it, segmentation, and we touch on omnichannel engagement: messaging the right people at the right time, in the right channel.
The marketing world has gorged on acquisition over the past decade. Cheap VC money and an explosion of marketing technology for measurement and analytics have led brands to over-index on pulling in new users and new customers, and under-index on delighting those customers so that they'll stick around.
After all, retention is the path to profit.
This is the very first episode of Retention Masterclass, a podcast focused on keeping the customers you attract. We'll interview and highlight global experts from leading brands on exactly how you can achieve this too.