Don’t we all need a little more retention? Peggy Anne Salz and I think so. So we’ve started a new podcast for our client CleverTap on … you guessed it … customer retention. Mobile user retention. Lots, and lots, and lots of retention.
Give the first episode a listen. It’s short … just over 4 minutes. It’s the first time I’ve done a podcast with a co-host, and the back-and-forth is really actually pretty cool, IMHO:
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. Over the next week and months Peggy and I will interview and highlight global experts from leading brands on exactly how you can achieve this too.
(A few might be missing for a while, but they’ll be added shortly.)
And here’s the full Retention Masterclass transcript …
John Koetsier: Welcome to Retention Masterclass. This is the very first episode, and yes, it’s a ‘hello world’ episode.
Peggy Anne Salz: Hello world. And of course in the world we’re seeing that retention is the new black. It’s the new growth. It’s what we are going to be talking about every week here at Retention Masterclass … talking with the best marketers, the coolest brands on the planet.
John Koetsier: And literally all over the planet. I’m in North America.
Peggy Anne Salz: And I’m in Europe. And we will be talking to people, as I said, all over the globe because it is a global happening.
John Koetsier: It is a global happening. So, in marketing the focus has been on acquisition, and I’ve seen that a lot. I’ve seen companies, brands that are spending $100,000 a week, some six figures a day to acquire new customers. That might be on mobile, that might be on various different platforms, but we’re seeing insane levels of spending to acquire new customers and so much less on satisfying, making happy and ensuring that the customers that you do get, love you, are attracted to you and want to stay.
Peggy Anne Salz: And it’s also not a sustainable business model to be spending so much to fill the funnel at the top if mid-funnel, deep-funnel interactions, conversions aren’t happening. And we’re seeing that with Uber for instance. We’re seeing that with companies that understand that if they can keep you coming back frequently, that’s a sure source of capital. That’s also a way to build a brand, and we’re hearing it on the street because the end of cheap money era is here, it is over. And it turns up the pressure on marketers to be very resourceful with spend and relentless in their pursuit of lasting loyalty. It’s not about getting the user, it’s about keeping the user.
John Koetsier: So this is a kickoff episode. Expect more soon, but maybe we should introduce ourselves. So Peggy, why don’t you start, introduce yourself to our listeners so they know who you are and what you’ve done.
Peggy Anne Salz: Okay John, happy to do so. I’m a mobile analyst. I’m an author, a nine time author of books about mobile and marketing, commenting on mobile marketing. Also at Forbes, coming to AdExchanger and other outlets, and also running two other podcasts, weekly podcasts, so bringing in a lot of those guests to our show. And I’m excited to work with you, John, and you should introduce yourself as well.
John Koetsier: I guess I should. We’ve worked together before in a couple of different ways. We consult with some of the same companies as well. So I also write for Forbes. I also do a bunch of different podcasts. I do the AI Show for VentureBeat. I do TechFirst which is interviews that I do for Forbes. And I’ve done a lot of consulting with MarTech and AdTech companies like Tune, like Singular, others like that, CleverTap as well. And so I’m excited to get into this podcast and talk not so much about getting those customers, which you still need to do, but about satisfying them and making them happy and making them want to come back to you every time.
Peggy Anne Salz: Absolutely. It’s not about reach, it’s about depth, I would say, and we’re going to be talking about that. We’ll be talking with the practitioners, best practices, ways you can do it, ways you can leave a mark and a positive impact on your business all at the same time. I guess that’s about all for now, John, because I don’t want to give it all away. Of course, listeners subscribe to the show to hear all of our future episodes. We’ll be looking for you.
John Koetsier: I can’t wait to get started on this. We’re going to have some of the best marketers on the planet, some of the best retention experts on the globe. It’s going to be amazing. Thanks so much for joining. Hit that subscribe button and we’ll see you in a week.
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