Tom Hunt’s Post

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$3.4m ARR. $0 raised. I have no idea what I'm doing.

The most impactful thing I’ve learnt about #marketing this year? 👉 Retention is the foundation of growth E.g. fix the holes in the bucket before pouring more water in 🌊 🪣

Alistair Fox

EVs │ Sustainability │Business Development │ Partnerships │ Sales Enablement

2y

There's been a lot of debate about this in the last 20 years ever since the revelation that it's 'cheaper to retain existing customers that win new ones' - which is obvious. But Marketing often forgets that it should look after the product, UX and customer, not just focus on 'lead gen' (Yuk!). And then someone points out that some existing customers actually cost you money i.e. they are unprofitable, so you should focus on winning better ones. Of course the correct approach is to run the business, which usually means losing some unprofitable customers and continually gaining new customers.

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Niall Sullivan

Marketing leadership 💪 Podcast host 🎤 Expert at building scalable content programmes 📈 #b2bmarketing #podcasting #leadership #teammanagement

3y

That analogy also works for improving your website before focusing on paid ads! Just money down the drain..

Masooma Memon ✍️

Freelance content marketer for B2B SaaS companies like Shopify, Vimeo, and Calendly

3y

Yep! It also costs less than acquiring new customers (those who won’t stick anyway since you aren’t working on retaining them).

Rochi Zalani

Freelance writer for SaaS | I help software companies grow their business through long-form content

3y

Exactly! You phrased it perfectly

Suds Singh

🎬 I help make it easy for your customers to see what you do.

3y

Too true as a new founder I was optimising for sales but now we optimise for retention and eventually advocates.. In a way the most expensive customer to loose are the existing ones.

Ilias Galiotos

Senior Lead Demand Generation Manager at Kpler

3y

I use the leaky pipe example, but, point taken!

Radu Gabriel Judele

Ethical Marketer & Co-Founder of Ethical Hq and Coffee Nerdery | Demand Generation (Growth) Expert, B2B Marketing, Behavior Science, Marketing Automation, Marketing Operations, RevOps

3y

Agree 100%. Do you also find that most teams have a bias towards pouring more water in the bucket though?

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