This is why CX programs usually don’t deliver returns - because they assume that better retention is the solution without stopping to ask what the problem is.
What if the customers we’re retaining aren’t profitable?
"Let’s focus on retention."
What if simplifying product choice would increase conversion 40%?
"Let’s start with retention."
What if making our offerings more convenient could increase share of wallet by 50%?
"More retention please."
What if improving the self service experience lowered cost to serve by 70%?
"Retention should be the heart of our strategy."
What if improving our CX allowed us to increase prices enough to double our contribution margin?
"We should focus on retention."
What if lowering adoption barriers would dramatically increase customer acquisition?
"Retention is the answer."
People - take your retention goggles off! There’s a world of opportunity out there to drive growth and profitability for your businesses and you’re MISSING IT. AARRRRGGGGGGHHHHH! 🤯🤣
Please just read The Grid and you’ll spot these opportunities from a mile away!
See this post on LinkedIn