Some questions to understand retention marketing

FAQs

About Your Setup / Journey to getting to this point

1. What’s your take on the maturity of your industry around retention today? Who are some of the folks you look up to? 

Industry is fragmented between small & large players. Retention is lower across due to lower brand loyalty for most players due to excessive competition. Brands we look upto – Nike, Apple On a retention front, we have specific elements we take inspiration from other brands, eg membership program of one vs UI of another 

2. What’s the team that looks after retention? Does it roll up to Growth / CMO / Product Lead, or how’s it organized? What are the conscious choices made here?

Growth team/ Explain team structure

3. What’s on YOUR dashboard - every day, every week and every month? [Break into 3 parts]

Daily & Weekly – Revenue across categories, products, traffic movement, analysing time 

Monthly – Strategic inputs on what launches we want to focus on, achieving growth targets and ARR. PLG & SLG

4. What are the key skills that you’ve kept in mind while building this team?

Need someone who can think about thinking out of the box. Not limited to doing “activity” but understanding the “why”. Making “intuitive judgements” + “data backed”

5. What are your highest priority customer communication touch points with your customers across their journey? 

Each touch point is super critical. From the Social media ads/ campaigns, to the website UI to post order journey via whatsapp to the packaging and product experience. It’s all a game of the right product & right communication. Website & social media are higher priorities.

6. What has worked the best for you and why so? 

Originality + Innovation. Internally, a thought & data driven approach has worked for us. Analysing the “why” for everything that works & doesn’t work. Try & try again. We want to give a best customer experience. People can spend but they want to be sold a value for money product. They love the story. 

Data, Engagement & Personalization

Almost all of it is automated + Refresh every 2-3 months.

Depends from campaign to campaign

Data led split tests. Give examples of posts boosts/ influencer activities whatsapp comms

Too many channels to count (10+ channels, maybe 100+ partners)

I would say a 5-6, while continuous iterations are happening, there is a lot of room for improvement.

A very non linear path but learning from each activity, and understanding the “why” is why we are where we are.

Yes it is.

Not any incident. We keep on monitoring our spam scores, frequency. In touch with our partners for content fatigue and continuously renew our creatives & communication.

Tech stack while growing is an area where we can do a lot more.

Which of these & why?

All of the above. Other than that, deeper product level data, region wise demand graphs etc.

Depends from product to product. Eg. New product vs new variation in existing product

Industry Notes

While nothing is obsolete per se, emails is something we use less.

Personalization engines and split tests based on deeper dynamic elements. Be it in UI or marketing

Attribution can sometimes be a challenge. Identifying overlap across channels can sometimes proves expensive. Focusing on net cost benefit of any channel is important. Focus on LTV is also important. 

Varies from industry to industry. But understand your customer, product & capabilities in super depth is absolutely critical. What to upsell/cross-sell/ uplift experience and how needs to be identified early on.

Yes 

Mostly, yes

Focus on community building, to increase loyalty and bring more brand love.