Secrets of creating a human-centred product
Epic Web3 Weekly Newsletter
Happy Monday, growth folks 👋
Each week we put together some handpicked insights from the industry experts to help you grow faster.
🧑💻 Community insights on customer retention vs. acquisition
Customer acquisition versus retention — both are key to revenue generation. However, there’s a long-running debate in SaaS circles: which one you should focus on.
1/ Mike Christie, Head of Partnerships at JetSpring, states that customer acquisition is like a drug. Unlike retention, it’s faster and much easier to measure. But instead of blind pushing for new faces, marketers should serve existing customers so they want to come back again and again.
2/ Sheikh Nayab Karim, Sales Specialist at Crayon Data, also draws an interesting analogy on this matter. In his opinion, spending money on new users to counter customer churn is like filling up a bathtub with a crack in it.
3/ Nathalie Schooling, CEO & Founder of Nligthen, also prefers retention over acquisition. However, she believes that it makes sense if a business focuses on keeping profitable clients.
4/ Gaurav Agarwal, Chief Growth Officer at ClickUp, has a slightly different opinion. He points out that though acquisition and retention drive product growth in different ways, they should go hand in hand to give their best shot. Here’s a short thread on whys and hows.
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Thanks for reading! Hope you found today’s insights interesting.