Brian Balfour is the CEO of Reforge and the former VP of Growth at Hubspot. He knows growth marketing and retention marketing. So when he says retention is at the center of the growth engine, people sit up and listen.
In this episode of CleverTap Engage, Brian talks about retention, benchmarks, measurement, some of the best examples of retention he’s ever seen, and whether you can engineer in retention or not. One thing he’s found? Category leaders always have the highest retention. And, when you drill down, retention is at the center of the growth engine. It improves both acquisition and monetization, drives LTV, increases what you can afford to spend on CAC, and demonstrates long-term health and strength in an app business.
“CleverTap Engage” is a video interview series featuring the globe’s most respected CMOs and executives, shining a light on how to achieve meaningful and memorable customer engagement. The series is co-hosted by Peggy Anne Salz and John Koetsier.
About CleverTap:
We are a mobile user engagement and analytics platform enabling startups, marketers and developers to use the power of data and messaging to personalize customer experiences on mobile apps.
Today, thousands of marketers and developers worldwide use CleverTap to gain deep customer insights to improve user loyalty.
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CHAPTER TIMESTAMPS
0:00 Are benchmarks bogus?
2:25 Category leaders have the highest retention
5:30 Know who you’re targeting AND who you’re not
7:20 Frustrations with benchmarks
16:10 Measuring LTV
19:05 Retention is an output
25:10 Can you engineer in retention?
29:50 Strategies for mobile growth
34:00 What do marketers understand least about retention
37:55 ‘I WAS STUPID’
42:52 Defining and keeping your ‘marginal audience’
47:51 Where does retention fit in the org chart?
