Vendasta analyzed customer data from over 275,000 SMBs across 1250+ markets over 5+ years to identify patterns in churn. Various factors were found to influence churn rates, including SMB category, partner type, pricing, and sales model (DIY, DIFM, DIWM). Generally, more specialized vertical partners, lower prices, DIY sales models, and categories where leads have high value saw lower churn. To succeed, companies need scalable platforms providing all sales models at low cost with integrated products and reporting.
This document provides an overview of customer relationship management (CRM). It discusses analytical CRM, CRM operations, technology implementation and applications of CRM, key performance indicator metrics and dashboards, CRM goals and integration within an organization. It also covers CRM processes and infrastructure, database management, data analysis, customer loyalty lifecycles, marketing campaigns, and marketing reach and roadmaps.
Elevating the SMB Digital Marketing Industry, Sharon Rowlands, ReachLocal CEOReachLocal
What do SMBs in today's digital marketing landscape need to know in order to succeed and grow their business? ReachLocal CEO Sharon Rowlands discusses the core concepts ReachLocal practices in order to elevate digital marketing for local SMBs in this 2014 BIA/Kelsey keynote presentation.
LSA15: Solving the SMB Retention ChallengeLocalogy
Retention, also known as solving churn, involves keeping existing customers engaged with a company or its products. The document discusses retention through a few quotes but does not provide much contextual information about the quotes or retention strategies.
The document summarizes churn rates and customer cancellation reasons for a subscription-based company. It finds that 67% of cancellations can potentially be addressed, with the largest reasons being insufficient value proposition, sales/marketing practices, and product confusion. Implementing strategies to reduce churn by 30% could increase revenue by $X million annually. Various projects are outlined to analyze churn drivers and test retention strategies with the goal of optimizing churn rates.
LSA16: Facebook, Local Monetization and MeasurementLocalogy
Joseph Devoy's presentation from LSA16 in San Francisco discussed Local Ads monetization and offline measurement for both national and small business advertisers. For more on the session visit: http://bit.ly/1R1JZkh
LSA16: What does the Data Say about Churn?Localogy
This document discusses churn in the context of Google AdWords accounts. It defines churn as an AdWords account that has been inactive for 6 consecutive months. The document notes that churn is a detractor of growth and that retaining existing customers is important, as it is easier to sell to existing customers than new prospects. It shares that around half of defined churn cases are potentially controllable through partner actions. The document provides best practices for partners around tracking customer contracts, communicating value through reporting, and utilizing Google's predictive churn program and other tools to support retention efforts.
LSA16: NPS Data - What It Means for You & the MarketLocalogy
The document discusses the SMB Trust Index, which measures how likely small and medium sized businesses are to recommend various brands based on ratings from over 6,000 SMB owners. It is updated quarterly and provides insights into different industries. The index shows that access to customer support is important for websites, while education builds trust for email marketing. Developing trust through social marketing and inbound marketing can reduce costs of customer acquisition compared to traditional outbound methods by encouraging positive word-of-mouth.
LSA16: How ReachLocal Boosted Retention by 50% in 12 MonthsLocalogy
At LSA16, ReachLocal’s Director of Strategic Client Services talked about how the company has transformed their customer approach and how these changes are impacting the company's bottom line. For more on this session visit: http://bit.ly/1YtsD5F
This document provides an overview of customer relationship management (CRM). It discusses analytical CRM, CRM operations, technology implementation and applications of CRM, key performance indicator metrics and dashboards, CRM goals and integration within an organization. It also covers CRM processes and infrastructure, database management, data analysis, customer loyalty lifecycles, marketing campaigns, and marketing reach and roadmaps.
Elevating the SMB Digital Marketing Industry, Sharon Rowlands, ReachLocal CEOReachLocal
What do SMBs in today's digital marketing landscape need to know in order to succeed and grow their business? ReachLocal CEO Sharon Rowlands discusses the core concepts ReachLocal practices in order to elevate digital marketing for local SMBs in this 2014 BIA/Kelsey keynote presentation.
LSA15: Solving the SMB Retention ChallengeLocalogy
Retention, also known as solving churn, involves keeping existing customers engaged with a company or its products. The document discusses retention through a few quotes but does not provide much contextual information about the quotes or retention strategies.
The document summarizes churn rates and customer cancellation reasons for a subscription-based company. It finds that 67% of cancellations can potentially be addressed, with the largest reasons being insufficient value proposition, sales/marketing practices, and product confusion. Implementing strategies to reduce churn by 30% could increase revenue by $X million annually. Various projects are outlined to analyze churn drivers and test retention strategies with the goal of optimizing churn rates.
LSA16: Facebook, Local Monetization and MeasurementLocalogy
Joseph Devoy's presentation from LSA16 in San Francisco discussed Local Ads monetization and offline measurement for both national and small business advertisers. For more on the session visit: http://bit.ly/1R1JZkh
LSA16: What does the Data Say about Churn?Localogy
This document discusses churn in the context of Google AdWords accounts. It defines churn as an AdWords account that has been inactive for 6 consecutive months. The document notes that churn is a detractor of growth and that retaining existing customers is important, as it is easier to sell to existing customers than new prospects. It shares that around half of defined churn cases are potentially controllable through partner actions. The document provides best practices for partners around tracking customer contracts, communicating value through reporting, and utilizing Google's predictive churn program and other tools to support retention efforts.
LSA16: NPS Data - What It Means for You & the MarketLocalogy
The document discusses the SMB Trust Index, which measures how likely small and medium sized businesses are to recommend various brands based on ratings from over 6,000 SMB owners. It is updated quarterly and provides insights into different industries. The index shows that access to customer support is important for websites, while education builds trust for email marketing. Developing trust through social marketing and inbound marketing can reduce costs of customer acquisition compared to traditional outbound methods by encouraging positive word-of-mouth.
LSA16: How ReachLocal Boosted Retention by 50% in 12 MonthsLocalogy
At LSA16, ReachLocal’s Director of Strategic Client Services talked about how the company has transformed their customer approach and how these changes are impacting the company's bottom line. For more on this session visit: http://bit.ly/1YtsD5F
LSA16: MapQuest – Revitalizing Culture to Revive a BrandLocalogy
At LSA16, MapQuest GM Brian McMahon discussed how the company is bringing back the product and how its internal culture is critical in that effort. For more on this session visit: http://bit.ly/1QE0HZP
LSA16: State of the Association & Local Marketing IndustryLocalogy
LSA President Neg Norton gave a look into the Association and the local marketing industry as a whole, sharing some data and insights that are driving the space forward.
LSA16: Constant Contact - Automated Facebook Ad Creation with EmailLocalogy
At LSA16, Douglas Thompson of Constant Contact discussed the company's new Facebook integration that turns emails into Facebook ads and shared some early results. For more on the session visit: http://bit.ly/21Uln8k
LSA16: Google 10X Thinking - Revolution not EvolutionLocalogy
During this LSA16 presentation, Google’s Ben Wood explains Google’s 10X concept and how it permeates the company’s culture and product development. For more on the session visit: http://bit.ly/1SzMLm9
LSA16: Attribution Revolution - The New Location AnalyticsLocalogy
This LSA16 session explored the state of the art in location analytics and explains why all publishers, platforms and agencies will need to be able to demonstrate offline impact and optimize against real-world actions such as store visits and in-store sales. For more on the session visit: http://bit.ly/1nxuEQL
Retale's Christine Cline discussed with the LSA16 audience how virtual reality (VR) could broadly affect local marketing. For more on the session visit: http://bit.ly/1P0pJhq
Ecommerce offers merchants the unique ability to create highly customized channels to take advantage of customer needs and the product life cycle.
Take the Private Stores feature of Digital River’s Global Commerce platform as an example. Through Private Stores, merchants can create specific shopping experiences and promotions for VIP customers, partners, governmental agencies, and employees.
http://jga.gs/privatestores
This document discusses business-to-business (B2B) marketing and the potential role of radio advertising. It notes that B2B transactions occur between businesses, rather than directly with consumers, and make up a larger volume of commerce. Traditionally, B2B advertisers have focused on trade publications and events to generate qualified leads. However, the document outlines how some B2B companies are now taking a more consumer-facing approach, including establishing retail operations and using broader branding. It argues that radio can help B2B companies create awareness among end users to influence future purchasing decisions. A number of product categories are identified as possibilities for radio advertising. The document concludes by suggesting proactive outreach, strategic partnerships, and
SPA is the leading provider of pricing analytics to complex companies of all types: manufacturing, distribution, equipment, services, and software/technology products. Since 1993, we’ve built a strong platform of proprietary analytics to quickly and efficiently help companies convert their own invoice data into pricing architectures that maximize their pricing performance and competitive position. Our typical client applies our pricing architecture and improves profitability by two to four percent of sales: $2 to $4 million per $100 million of affected revenue. The benefits are staggering; and they are typically accomplished in less than 90 days.
If you want to improve your chances of winning a DMA Award this year you should not miss this fun and engaging event. Our awards experts will talk with you in small groups and will cover everything from presenting your creative work to the categories you should be entering.
This document discusses measuring key business metrics to improve management. It recommends measuring quality of service through on-time arrival, courtesy, and call backs. Customer retention should be measured by first and second year renewal rates. Accounts receivable quality can be measured by aging receivables. Sales performance can be measured by leads received versus closed, proposals written, dollars proposed versus sold, and closing percentages. Billing customers before service can speed cash flow by getting payments earlier, lowering days sales outstanding. While customers may resist this at first, it provides cash flow benefits that improve business operations.
SaaS (Software as a Service) has singlehandedly emerged as the single largest disruption in business model in the last decade. SaaS companies suddenly made available enterprise quality technology to people (and businesses) across the world. SaaS public companies made ~$70Bn (at a ~70% gross profit) while adding ~$700Bn in MCap on the Nasdaq.
But there is one thing that sets SaaS apart. A 70% gross profit means that the every $1 of revenue can add $0.70 to your profits & $9.5 to your enterprise value. Which makes for – Pricing, the single largest needle spinner (after the product and service, of course) in a SaaS companies life. Looking for that one small thing that makes a big change? Start here.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working hands-on with various organizations. They are for the limited purpose of educating the leaders of a company. The rationale and the procedure to be followed can vary significantly based on the context, stage, exact nature & size of the business.
How to make a profit during a double dip recessionroger-mbg
Presentation given by Chris Lilly, senior partner Mayfield Business Group (MBG), at Wealden Business Expo in Heathfield, East Sussex, UK on 11th October 2011. It shows how well run businesses can still make a profit even in difficult economic circumstances, such as a double-dip recession and highlights growing sales, increasing margins and controlling costs
ICEW 2013 Amanda Cromhout - Big Data: the key to making customer-centric cha...TheFocusGroup
Regardless of the type of organisation, you need to mine your data to provide a truly customer-centric offering. Your data should be at the heart of your product strategy. Amanda encourages organisations to explore under the tip of the iceberg, diving deep into the data you hold on them to maximise your sales and profits.
Deloitte Digital NL - Voice of the customer (CB seminar)Victor Hoong
In early 2013, Deloitte and Bazaarvoice partnered to investigate what online consumer feedback reviews could reveal on the relationships between NPS, price, product assortment and customer service. In a short 5 week project 7.8 million customer reviews across 230 different businesses were interrogated. A selection of the key findings were included in this short presentation given at the Deloitte Consumer Business Predictions event @Rotterdam May 2013.
The biggest challenges in developing new products that expand brands and deepen customer engagement according to marketing professionals are:
1. Determining the right products to develop through thorough customer research and testing before launch.
2. Ensuring new products fit within the brand's niche without spreading resources too thin or conflicting with existing customers' perceptions of the brand.
3. Gaining buy-in from retail partners who may prefer focusing on existing lines over innovative new products.
Retail Store Management PowerPoint Presentation SlidesSlideTeam
Select our content ready Retail Store Management Powerpoint Presentation Slides to create an effective retail merchandising system. The Merchandise management PowerPoint complete deck contains various professional-looking slides such as types of retail format, key drivers of retail growth, key statistics, building & sustaining relationships, global environmental & market trends, retail trends shaping in future, role of information technology in retail, types of retail applications, understanding customers, future trends in multichannel retailing, target audience classification, sales by product category, pricing strategies, stages of product distribution, global market segmentation strategy, location analysis strategy, division of retail activities, retail store organizational structure, information system & supply chain management, operations promotion, marketing communication, sales promotional mix elements, customer loyalty programme options, integrated etc. Furthermore, you can also use the retail marketing presentation deck to showcase ways to manage retail pricing, retail pricing strategy, inventory management control, retail management challenges, inventory management framework, inventory control sheet, retail management challenge, etc. Download retail business management PPT visuals to enhance the knowledge of your audience. Go further and faster with our Retail Store Management Powerpoint Presentation Slides. They help extend your advantage.
Building your business with distributorsTradeInsight
The document provides information on working with distributors to build a business, including deciding whether to use distributors, how many distributors are needed, pricing and margins, marketing programs distributors offer, and an overview of several representative natural food distributors. Key details covered include distributor roles, factors in choosing distributors, information needed for distributor presentations, and common issues that arise in distributor relationships.
Retail Store Management Powerpoint Presentation SlidesSlideTeam
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Retail Store Management Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of sixtyseven slides. Our tailor made Retail Store Management Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. It is fully editable so that you can make changes to colors, data, and fonts if you need to. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format. https://bit.ly/3AR6fgz
The document discusses key account selling and management. It defines key accounts as the top 20% of customers that provide 80% of profits, based on the 80/20 principle. The benefits of key account programs include economies of scale, understanding customer goals, and sustainable sales. Key criteria for selecting key accounts include sales volume, profits, financial stability, and coherence with company strategy. The document also cautions that key account programs require sufficient benefits and should not rely too heavily on just a few large customers.
Market America is a product brokerage and internet marketing company founded in 1992 that allows individuals to become Independent Distributors or UnFranchise Owners. Through its UnFranchise Business Development System, individuals can earn income in two ways: from retail profits on products and from developing their own sales organizations. The system provides training, products, and internet marketing support to help individuals build their businesses within 2-3 years. Since its founding, Market America has generated over $3.9 billion in retail sales and individuals have earned over $2.2 billion in commissions and profits through the system.
LSA16: MapQuest – Revitalizing Culture to Revive a BrandLocalogy
At LSA16, MapQuest GM Brian McMahon discussed how the company is bringing back the product and how its internal culture is critical in that effort. For more on this session visit: http://bit.ly/1QE0HZP
LSA16: State of the Association & Local Marketing IndustryLocalogy
LSA President Neg Norton gave a look into the Association and the local marketing industry as a whole, sharing some data and insights that are driving the space forward.
LSA16: Constant Contact - Automated Facebook Ad Creation with EmailLocalogy
At LSA16, Douglas Thompson of Constant Contact discussed the company's new Facebook integration that turns emails into Facebook ads and shared some early results. For more on the session visit: http://bit.ly/21Uln8k
LSA16: Google 10X Thinking - Revolution not EvolutionLocalogy
During this LSA16 presentation, Google’s Ben Wood explains Google’s 10X concept and how it permeates the company’s culture and product development. For more on the session visit: http://bit.ly/1SzMLm9
LSA16: Attribution Revolution - The New Location AnalyticsLocalogy
This LSA16 session explored the state of the art in location analytics and explains why all publishers, platforms and agencies will need to be able to demonstrate offline impact and optimize against real-world actions such as store visits and in-store sales. For more on the session visit: http://bit.ly/1nxuEQL
Retale's Christine Cline discussed with the LSA16 audience how virtual reality (VR) could broadly affect local marketing. For more on the session visit: http://bit.ly/1P0pJhq
Ecommerce offers merchants the unique ability to create highly customized channels to take advantage of customer needs and the product life cycle.
Take the Private Stores feature of Digital River’s Global Commerce platform as an example. Through Private Stores, merchants can create specific shopping experiences and promotions for VIP customers, partners, governmental agencies, and employees.
http://jga.gs/privatestores
This document discusses business-to-business (B2B) marketing and the potential role of radio advertising. It notes that B2B transactions occur between businesses, rather than directly with consumers, and make up a larger volume of commerce. Traditionally, B2B advertisers have focused on trade publications and events to generate qualified leads. However, the document outlines how some B2B companies are now taking a more consumer-facing approach, including establishing retail operations and using broader branding. It argues that radio can help B2B companies create awareness among end users to influence future purchasing decisions. A number of product categories are identified as possibilities for radio advertising. The document concludes by suggesting proactive outreach, strategic partnerships, and
SPA is the leading provider of pricing analytics to complex companies of all types: manufacturing, distribution, equipment, services, and software/technology products. Since 1993, we’ve built a strong platform of proprietary analytics to quickly and efficiently help companies convert their own invoice data into pricing architectures that maximize their pricing performance and competitive position. Our typical client applies our pricing architecture and improves profitability by two to four percent of sales: $2 to $4 million per $100 million of affected revenue. The benefits are staggering; and they are typically accomplished in less than 90 days.
If you want to improve your chances of winning a DMA Award this year you should not miss this fun and engaging event. Our awards experts will talk with you in small groups and will cover everything from presenting your creative work to the categories you should be entering.
This document discusses measuring key business metrics to improve management. It recommends measuring quality of service through on-time arrival, courtesy, and call backs. Customer retention should be measured by first and second year renewal rates. Accounts receivable quality can be measured by aging receivables. Sales performance can be measured by leads received versus closed, proposals written, dollars proposed versus sold, and closing percentages. Billing customers before service can speed cash flow by getting payments earlier, lowering days sales outstanding. While customers may resist this at first, it provides cash flow benefits that improve business operations.
SaaS (Software as a Service) has singlehandedly emerged as the single largest disruption in business model in the last decade. SaaS companies suddenly made available enterprise quality technology to people (and businesses) across the world. SaaS public companies made ~$70Bn (at a ~70% gross profit) while adding ~$700Bn in MCap on the Nasdaq.
But there is one thing that sets SaaS apart. A 70% gross profit means that the every $1 of revenue can add $0.70 to your profits & $9.5 to your enterprise value. Which makes for – Pricing, the single largest needle spinner (after the product and service, of course) in a SaaS companies life. Looking for that one small thing that makes a big change? Start here.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working hands-on with various organizations. They are for the limited purpose of educating the leaders of a company. The rationale and the procedure to be followed can vary significantly based on the context, stage, exact nature & size of the business.
How to make a profit during a double dip recessionroger-mbg
Presentation given by Chris Lilly, senior partner Mayfield Business Group (MBG), at Wealden Business Expo in Heathfield, East Sussex, UK on 11th October 2011. It shows how well run businesses can still make a profit even in difficult economic circumstances, such as a double-dip recession and highlights growing sales, increasing margins and controlling costs
ICEW 2013 Amanda Cromhout - Big Data: the key to making customer-centric cha...TheFocusGroup
Regardless of the type of organisation, you need to mine your data to provide a truly customer-centric offering. Your data should be at the heart of your product strategy. Amanda encourages organisations to explore under the tip of the iceberg, diving deep into the data you hold on them to maximise your sales and profits.
Deloitte Digital NL - Voice of the customer (CB seminar)Victor Hoong
In early 2013, Deloitte and Bazaarvoice partnered to investigate what online consumer feedback reviews could reveal on the relationships between NPS, price, product assortment and customer service. In a short 5 week project 7.8 million customer reviews across 230 different businesses were interrogated. A selection of the key findings were included in this short presentation given at the Deloitte Consumer Business Predictions event @Rotterdam May 2013.
The biggest challenges in developing new products that expand brands and deepen customer engagement according to marketing professionals are:
1. Determining the right products to develop through thorough customer research and testing before launch.
2. Ensuring new products fit within the brand's niche without spreading resources too thin or conflicting with existing customers' perceptions of the brand.
3. Gaining buy-in from retail partners who may prefer focusing on existing lines over innovative new products.
Retail Store Management PowerPoint Presentation SlidesSlideTeam
Select our content ready Retail Store Management Powerpoint Presentation Slides to create an effective retail merchandising system. The Merchandise management PowerPoint complete deck contains various professional-looking slides such as types of retail format, key drivers of retail growth, key statistics, building & sustaining relationships, global environmental & market trends, retail trends shaping in future, role of information technology in retail, types of retail applications, understanding customers, future trends in multichannel retailing, target audience classification, sales by product category, pricing strategies, stages of product distribution, global market segmentation strategy, location analysis strategy, division of retail activities, retail store organizational structure, information system & supply chain management, operations promotion, marketing communication, sales promotional mix elements, customer loyalty programme options, integrated etc. Furthermore, you can also use the retail marketing presentation deck to showcase ways to manage retail pricing, retail pricing strategy, inventory management control, retail management challenges, inventory management framework, inventory control sheet, retail management challenge, etc. Download retail business management PPT visuals to enhance the knowledge of your audience. Go further and faster with our Retail Store Management Powerpoint Presentation Slides. They help extend your advantage.
Building your business with distributorsTradeInsight
The document provides information on working with distributors to build a business, including deciding whether to use distributors, how many distributors are needed, pricing and margins, marketing programs distributors offer, and an overview of several representative natural food distributors. Key details covered include distributor roles, factors in choosing distributors, information needed for distributor presentations, and common issues that arise in distributor relationships.
Retail Store Management Powerpoint Presentation SlidesSlideTeam
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Retail Store Management Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of sixtyseven slides. Our tailor made Retail Store Management Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. It is fully editable so that you can make changes to colors, data, and fonts if you need to. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format. https://bit.ly/3AR6fgz
The document discusses key account selling and management. It defines key accounts as the top 20% of customers that provide 80% of profits, based on the 80/20 principle. The benefits of key account programs include economies of scale, understanding customer goals, and sustainable sales. Key criteria for selecting key accounts include sales volume, profits, financial stability, and coherence with company strategy. The document also cautions that key account programs require sufficient benefits and should not rely too heavily on just a few large customers.
Market America is a product brokerage and internet marketing company founded in 1992 that allows individuals to become Independent Distributors or UnFranchise Owners. Through its UnFranchise Business Development System, individuals can earn income in two ways: from retail profits on products and from developing their own sales organizations. The system provides training, products, and internet marketing support to help individuals build their businesses within 2-3 years. Since its founding, Market America has generated over $3.9 billion in retail sales and individuals have earned over $2.2 billion in commissions and profits through the system.
Use Revenue Management to Boost Profit at your Independent HotelDuetto
Revenue management is a critical component to running an efficient and profitable hotel today. It is especially important for independent hotels, who don't benefit from the resources and negotiating power that come with a big brand. This webinar will take you from basic practices to advanced pricing strategies that will allow you to better manage distribution complexity and drive more profitability.
WEBINAR AGENDA:
Learn the basics of revenue management
Understanding customer acquisition costs and the dynamic digital landscape
Common pricing mistakes to avoid
Use Open Pricing to better manage distribution
Automate functions with alerts and price rules
PropellerAds Retargeting Solution - is an advanced tool that allows advertisers to bring site visitors back and to help them complete the conversion.
It's an effective advertising solution for wide range of Online and eCommerce businesses, including such industries as Finance, Online Retail, Gaming, Dating, Mobile Development & Publishing etc.
Register today https://partners.propellerads.com/
This document summarizes the Market America business model, which provides entrepreneurs with a complete marketing system to generate ongoing income. It discusses:
1. Market America's product brokerage model of over 2,500 exclusive brands across major markets.
2. Its internet marketing support including a web portal and rewards program to drive traffic and sales.
3. Training and seminar systems to provide marketing tools and support.
4. A one-to-one marketing approach that leverages personal relationships to identify trends and match customers to products.
Through these synergistic components, Market America aims to generate traffic, leads and sales for independent distributors' businesses.
1) Five common reasons for business failure are poor customer service, bad budgeting, lack of staff training, failure to anticipate market trends, and poor/inconsistent marketing.
2) Studies show that businesses that continued or increased their advertising during recessions experienced much higher growth afterwards compared to competitors that cut back on advertising.
3) Advertising during an economic downturn can help businesses speak directly to customers looking for bargains and deals, cut through the reduced competition from others scaling back ads, and create long-term positioning for the recovery.
Similar to LSA15: Triggers and Causes of SMB Churn (20)
Mono Solutions Webinar - The Engagement Challenge: Simple Steps for Improving...Localogy
The document summarizes a webinar presented by The Local Search Association on improving customer engagement and reducing churn for SMB SaaS products. Key points include:
1) While SMB use of cloud-based services is growing, over half still don't use any SaaS and 62% underutilize the software they purchase.
2) Better training, simpler products, and setting proper expectations can improve engagement and utilization.
3) Collecting feedback from partners and customers and closely observing how SMBs complete tasks helps build better products that minimize churn.
4) Proactive communication and support also aid engagement and reduce chances of customers switching to competitors.
LOCALOGY ENGAGE 19: The Best Companies and PE Firms are Focused on Engagement...Localogy
This document discusses how companies can focus on customer engagement and retention to drive optimal growth. It argues that improving retention is easier than maintaining rapid growth while fixing retention issues. The document provides examples from Hubspot of how focusing on customer success through strategies like sales compensation aligned with lifetime customer value can improve retention metrics like annual revenue retention above 100% and customer retention above 90%. It emphasizes defining and measuring key customer success indicators.
LOCALOGY ENGAGE 19: Turning Customers Into AdvocatesLocalogy
This document discusses strategies for turning customers into advocates by leveraging customer referrals and influencers. It provides examples of initiatives like a customer Facebook group, case studies from promoters, and targeted advertising to advocates. Data shows increasing referral incentives from $250 to $1000 drove more referrals. The presentation emphasizes empowering advocates to talk about the brand while also addressing any detractors.
This document discusses Localogy's efforts to improve their customer onboarding process through a more customer-centered approach. It describes how they conducted customer observations and interviews to better understand small business owners' needs and challenges. They identified key moments in a small business owner's journey and mapped this out to prioritize opportunities to provide support. Localogy piloted a new onboarding process with a few agents that included personalized outreach calls. This resulted in improved customer satisfaction, efficiency and sales. The document concludes by discussing plans to refine, scale and introduce the new onboarding approach more broadly while maintaining its positive impact.
This document discusses how AWeber uses customer profiling to improve their onboarding process. It explains that they gather both active and passive customer data to create personalized profiles. Active data includes information directly from customers, like location and goals. Passive data includes inferred details like online presence and technology used. These profiles allow AWeber to send customized onboarding emails, prioritize high-potential customers for support, and recommend integrations. The profiling approach improved key metrics like engagement and integration activation. Overall, the personalized onboarding helps customers succeed faster with AWeber's email marketing platform.
LOCALOGY ENGAGE 19: SMBs and KPIs - Sharing Data that Drives SuccessLocalogy
The document discusses research from four waves of surveys of small and medium businesses regarding their adoption of cloud-based services. Three key findings are discussed: 1) SMBs are steadily increasing their use of cloud-based services and cloud software is becoming the default, 2) SMBs see real benefits from moving to the cloud including increased productivity and ability to focus on growth, and 3) despite SMB demand, software developers are failing to fully capitalize on the opportunity to serve SMBs moving to cloud-based solutions.
LOCALOGY ENGAGE 19: Bringing Customer Feedback into Product DevelopmentLocalogy
Aksh Gupta is the founder and CEO of getOccasion.com, an online marketplace that has generated $100 million in gross payment volume and booked over 2.25 million reservations. The company has raised $1.5 million in investor financing and has a team of over 2.5 engineers serving 5,000 businesses across 30 verticals. GetOccasion provides businesses with tools to attract, retain, and re-engage customers including weekly royalty payments and a centralized intelligence report.
LOCALOGY ENGAGE 19: AI’s Impact on the B2B Customer JourneyLocalogy
An organization's ability to rapidly learn and apply that learning is a competitive advantage. AI can help B2B companies better understand customer journeys by removing blind spots in customer data. Topic modeling of social media data can reveal inaccurate assumptions about target audiences and engagement patterns, and identify overlooked opportunities to improve marketing campaigns, content, and product development. Granular audience insights from AI can optimize spending, engage the right customers, and develop trusted relationships at every stage of the customer journey.
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This document provides information about an event called "ENGAGE: SaaS/SMB" that is aimed at connecting local entrepreneurs, SaaS and marketing service providers. The event includes sessions on topics like managing reputation, finding customers, managing cash flow and hiring. It encourages attendees to engage in questions and discussions. The organizers want to hear challenges attendees have faced and questions service providers have. The goal is to start conversations and for attendees to network during sessions, breaks and a reception sponsored by event sponsors and exhibitors.
BITZ BOOTCAMP DC: The Modern Customer Journey - Be Found Where your Customers...Localogy
This document provides 5 key things for winning in marketing: listen to customers through online reviews which impact 93% of purchasing decisions; be real and authentic as 63% of consumers prefer brands they believe are authentic; tell your story as 92% of consumers want brands to tell them a story; be available to respond to customers within 5 minutes as 75% of consumers expect quick responses; and be consistent in your messaging and branding so people are more likely to remember your brand. The overall message is to focus on integrating the customer experience into your marketing strategy through these 5 things in order to succeed.
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Sanchez Williams, the Director of IT Operations at U2Cloud, identifies the five most frequent cybersecurity oversights for cloud services. These include: 1) not having antivirus protection on hosted servers, desktops, and applications; 2) leaving cloud-based firewalls unconfigured or with unnecessary open ports after development; 3) not utilizing two-factor authentication to prevent phishing and password compromises; 4) not properly testing backups which can leave companies vulnerable to ransomware attacks; and 5) failing to sufficiently educate staff who can fall victim to sophisticated phishing attacks.
Customers now expect businesses to engage with them on their terms through personalized interactions based on understanding their needs and expectations. However, most businesses still fall short in delivering this level of personalized customer experience according to a 2018 Salesforce study. FreshLime is a customer data platform that aims to help local service businesses better understand and engage customers for more meaningful interactions.
BITZ BOOTCAMP DC: CRM and Customer InsightsLocalogy
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LSA19: The Location Factor — How Multi-Location Brands Win in SocialLocalogy
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LSA19: Amazon — Shifting Purchase Behaviors and the Advertising MixLocalogy
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Wendi Sturgis presented on creating a purpose driven culture at Yext. She discussed how Yext helps companies manage their digital knowledge across channels to better engage customers. Sturgis emphasized that Yext's customer success team aims to be the best in their industry by focusing on responsiveness, advocacy, and achieving high customer satisfaction scores and retention rates. The team engages customers through monthly surveys and showcases successful customer outcomes.
LSA19: The Science Behind Increasing Customer RetentionLocalogy
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2. Genesis of Report
Vendasta’s customer data has revealed patterns that may be
triggers or causal factors for churn. This is an opportunity to
understand churn and what may be causing it.
3. Compare Three Sales Profiles
1
2
3
Digital Committers
Digital PurePlay
Digital Extenders
5. Digital Extender Profile1
Traditional Only Sales Force
Characteristics
● Cherry pick top existing customers
● Usually bundled with traditional products
● Usually DIFM High Gross Dollar products
● Salesforce sells both digital and traditional
Results
● Digital account base shrinks along same profile
as traditional customers
● Loss of verticals and categories
● High churn
“Doom Loop”
7. 2 Digital Committer Profile
Digital & Traditional Sales Force
Characteristics
● Cherry pick top existing customers early on
● Digital-only sales force (often telemarketing)
● Typically a spectrum of DIY - DIFM - DIWM
● Traditional sales force can sell digital
Results
● Rapid growth until saturation of existing traditional
customers
● Growth continues as sales force opens up new
and/or former verticals and categories
Sustainable Growth
9. 3 Digital Pure Play (DIY) Profile
Digital Only Sales Force
Characteristics
● Outbound marketing ,Telesales , Self-serve
● Very low CAC
● DIY - DIFM - DIWM
● Full service and products upwards creep
Results
● Steady Growth with Low Churn
● Increasing services and products
Sustainable Growth
10. What’s Really Important?
What is the one thing that is more important than
getting new customers?
All SaaS companies know this answer.
12. Potential Churn Variables
Which of these variables have an effect on churn?
Number of Products
SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Sold as a Offering / Bundle
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle ?
?
?
?
?
?
13. About The Data
● Churn data from March 2014 - March
2015.
● Partners that were Vendasta
customers for the entire year.
● Based on Reputation Management;
used as a proxy for entire digital bundle
that our partners are selling.
Excluded DataIncluded Data
● Atypical data / outliers.
ie. Directories which closed
● Customers with 0 churn.
● Customers with more than 90% churn
in any one period.
● Customer with less than 10 accounts.
● Accounts that were created and
deleted in the same month.
14. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle ?
?
?
?
?
Number of Products Sold as a Offering / Bundle ?
15. Number of Products & Churn
75%
50%
25%
ChurnRate
Total Digital Products in Bundle/Offering
9 16 23
0%
100%
Average Number of
Digital Products = 11
16. 75%
50%
25%
ChurnRate
Total Digital Products in Bundle/Offering
9 16 23
0%
100%
Average Number of
Digital Products = 11
Summary
A weak relationship
found between the
number of products
that an agency sells
and their churn.
Number of Products & Churn
17. Key Points
● Partners sell, on average, 11 different digital products.
● A weak relationship was found between number of products that
agencies sell and churn.
● Number of products sold does NOT equate greater stickiness.
● Thoughtful product pricing, packaging & fulfillment make the difference.
Number of Products & Churn
18. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle ?
?
?
?
?
Number of Products Sold as a Offering / Bundle ✕NO
20. 60%
40%
20%
ChurnRate
Monthly Price
$100 $200 $300
0%
80% Every hundred dollars that a
package increased, it resulted
in 8% higher churn.
Pricing & Churn
Summary
Companies with lower prices
(below $100) had avg.
annual churn of 28%
Companies with higher
prices (above $100) had avg.
annual churn of 50%
21. Key Points
● SMBs are more time-taxed & budget-starved than ever.
● They require clear ROI, especially with so many digital options .
● The higher the price point, the higher the demand for discernible return.
○ Especially in a DIFM relationship where they're essentially hiring a company
as their outsourced marketing arm.
Pricing & Churn
22. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle
?
?
?
?
Number of Products Sold as a Offering / Bundle ✕NO
YE
S
✔
24. Vertical vs. Horizontal & Churn
45%
40%
35%
30%
25%
15%
10%
5%
0%
20%
Vertical Partners Horizontal Partners
31%
42%
Summary
Clearly horizontal media &
agencies continuously
evaluate.
Horizontals often tune their
packages to verticals.
Verticals are able to provide
a higher specialized ROI.
25. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle
?
?
?
Number of Products Sold as a Offering / Bundle ✕NO
YE
S
✔
YE
S
✔
26. SMB Category & Churn
Annual Churn Rate
0% 20% 40% 60% 80%
Mining & Agriculture
Transportation
Shopping
Financial Services
Industrial Goods
Arts
Restaurants
Auto
Professional
Home Services
Education
Hotels & Travel
Beauty Services
Food
Health
Active
Other
Event Services
Real Estate
Local Services
27. Annual Churn Rate
0% 20% 40% 60% 80%
Mining & Agriculture
Transportation
Shopping
Financial Services
Industrial Goods
Arts
Restaurants
Auto
Professional
Home Services
Education
Hotels & Travel
Beauty Services
Food
Health
Active
Other
Event Services
Real Estate
Local Services
SMB Category & Churn
Summary
Generally speaking, the higher the
value of a lead (for the SMB) the
lower the churn & greater the
retention (ie. Local Services, Real
Estate, and Health).
Financial and Auto are exceptions.
Highly competitive and often churn
as large cohorts (ie.
Brands/Franchises).
Under siege by vertical players.
28. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, Radio, TV etc.
Of the Offering / Bundle
?
?
Number of Products Sold as a Offering / Bundle ✕NO
YE
S
✔
YE
S
✔
YE
S
✔
29. Partner Type & Churn
Annual Churn Rate
TV
Agency
IYP
SEO / SEM
PurePlay
Newspaper
Vertical
Radio
0% 25% 50% 75% 100%
30. Partner Type & Churn
Annual Churn Rate
TV
Agency
IYP
SEO / SEM
PurePlay
Newspaper
Vertical
Radio
0% 25% 50% 75% 100%
Summary
Churn Relates To:
● Bundling and trajectory of
traditional sales.
● Experience and length of time
selling digital.
● Pricing of digital by partner type.
● Types of SMB categories partner
types sell to traditionally.
31. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle
?
Number of Products Sold as a Offering / Bundle ✕NO
YE
S
✔
YE
S
✔
YE
S
✔
YE
S
✔
32. SMB Service Model & Churn
60%
Annual Churn Rate
45%30%15%0%
DIFM
DIWM
DIY
33. SMB Service Model & Churn
60%
Annual Churn Rate
45%30%15%0%
DIFM
DIWM
DIY
Summary
DIY
● DIY still has the lowest churn…by far!
● Self selected / Engaged users.
● Reinforces the need for media & agency
to have low-cost DIY solutions.
DIFM
● Highest churn and by definition highest
priced.
● SMB demand an “ROI”
DIWM
● DIWM "middle ground" as a safe &
sought-after spot.
● SMBs outsource “work” but still engaged.
34. SMB Category
Vertical vs. Horizontal
SMB Service Model
Partner Type
Pricing
Potential Churn Variables
Which of these variables have an effect on churn?
ie. Restaurants, Real Estate, etc.
Specialization of the Partner
DIY, DIFM, DIWM
ie. Newspaper, YP, Radio, TV etc.
Of the Offering / Bundle
Number of Products Sold as a Offering / Bundle ✕NO
YE
S
✔
YE
S
✔
YE
S
✔
YE
S
✔
YE
S
✔
35. Okay, So What?
What is really important?
What model do you need?
What is the prescription?
36. Given the SMB Realities
1-4 5-9
Yearly Spend
$2,506.00
10-99Employees EmployeesEmployees (Core/VSBs)
Yearly Spend
$20,694.00
Yearly Spend
$53,440.00
Total % of SMBs
63.3%
Total % of SMBs
17.5%
Total % of SMBs
19.2%
Preferred Model
DIWM / DIFM
Preferred Model
DIWM / DIFM
Preferred Model
DIY
In-Premise Sales Rep Value
Indifferent
In-Premise Sales Rep Value
Minimal
In-Premise Sales Rep Value
High
SMBs 10 to 99 employees - Advertising & Marketing Trends
SMBs with 2 to 9 employees - Advertising & Marketing Trends
LCM Wave 18 Advertising Trends of Core SMBs
37. Given the Market Realities
DIY
Low Cost Digital Solutions
DIFM / DIWM
High Spend
That the traditional business model is under attack!
38. Given Traditional Media Co Realities
● In-Premise sales force
● High cost of customer acquisition
● Shrinking verticals / customer base
● Few (if any) DIY / DIWM products
● Multiple products & reporting options
● Scaling issues
39. To Succeed You Need
A platform solution that allows you to sell to SMBs in the method, pricing,
and model that they want to be sold in.
Must Include:
● Marketing automation to lower cost of customer acquisition
● Sales force management and measurement
● Scalable solution to provide DIY/DIWM/DIFM
● Low cost DIY/Freemium Solutions with a clear path to upgrade
● Digital sales force / Tele sales
● Single Solution for partner and SMB
● Extensive Customer Reporting and deep integration of products
● Easy and cost effective onboarding and support
● White label branding
● Integration with back end systems
Extenders are locked into a "doom loop" of trying to max out traditional, high-margin customers and don't/won't enter at the lower end of the market. As a result, they struggle to activate new customer sets and unlock new verticals.
Rep Mgmt is the core solution that Vendasta sells, but Rep Mgmt as essentially the digital diagnostics tool to evaluate an SMB's entire digital suite. I.e. "the front door" that leads to the full spectrum of digital product choices: Paid (SEM, display, FB ads), Owned (website, e-mail), and earned (social, customer reviews). Make sure the audience is clear on why Rep Mgmt is a strong proxy for holistic digital bundle analysis
Worth noting that media/agency can still have higher price points and succeed. BUT, the pricing/packaging must be more thoughtful, and the ROI must be clear and robust. Lower-priced DIY models are key to opening up the lower end of the SMB market
New competitive threats for media/agency to consider, on a couple of fronts. 1) horizontal pureplays that are vertically-tuned (Yodle, ReachLocal, Main Street Hub); 2) More pureplay Vertical platforms are expanding beyond software and into marketing/advertising services; for example, MindBody, Booker, OpenTable.