Growth Experiments is a complete platform to track ideas, hypotheses and results.
Though companies function as a single entity, there are multiple silos within every organization. The purpose of knowledge management is to unite these valuable yet fragmented pieces of information together and make them accessible to all the employees of an organization in a streamlined and organized manner to achieve goals and objectives. According to a survey, Fortune 500 companies lose around $31.5 billion (about $97 per person in the US) a year by failing to organize and share knowledge. Though knowledge remains as the number one asset of an organization, companies are not
As marketers, we all know the importance of increasing traffic to our eCommerce stores, but is that all there is to eCommerce marketing? Merely increasing traffic to your web store with SEO and other paid channels is becoming an outmoded retail marketing strategy, unless they are used along with other techniques targeted towards customer retention. So, what is the most effective way to grow your eCommerce business?
<p>Churn refers to the loss of customers who are subscribed to or use a service. Churn rate is an important component of growth because it is tied to the retention of users of a service. When more users churn, retention rates are lower. When churn rate is high, it is harder to grow a product or service because more new users are required to offset the users who churned from the service. Churn is particularly important in SaaS businesses and other businesses where users pay a recurring subscription fee. These businesses creaet profit from long customer retention spans and a high customer lifetime value. When churn is high, businesses can't capture the full expected lifetime value. These are the best articles on how to reduce churn and improve customer lifetime value. From how to reduce churn, how to generate negative churn, how to use customer success to lower churn rates and hacks to reduce churn, you'll find tactics to improve retention and growth for your business.</p>