{"id":28487,"date":"2023-01-18T16:11:47","date_gmt":"2023-01-18T16:11:47","guid":{"rendered":"https:\/\/www.intercom.com\/blog\/?p=28487"},"modified":"2024-11-15T16:08:33","modified_gmt":"2024-11-15T16:08:33","slug":"webinar-retention-intercom-productboard-fullstory","status":"publish","type":"post","link":"https:\/\/www.intercom.com\/blog\/webinar-retention-intercom-productboard-fullstory\/","title":{"rendered":"A modern primer for retaining customers: Strategies from Intercom, Productboard, and FullStory"},"content":{"rendered":"

It can be quite a challenge to find and address the points of friction that are chasing your customers away. In our latest webinar<\/a>, we\u2019ve shared a three-pronged approach to help you drive retention and reduce churn.<\/p>\n

It\u2019s probably fair to say we\u2019re all a bit obsessed with growth. We create our business strategies around driving growth, and look to growth as the key indicator of the health and viability of our companies. But while acquiring new customers is obviously a critical part of having a business, it\u2019s hardly sustainable if they only ever stick around for a few months.<\/p>\n

“Are you attracting and engaging the right customers? Are you providing the right support and delivering ongoing value? And where should you start?”<\/p><\/blockquote>\n

A 1% increase in customer acquisition affects your bottom line by just over 3%, while a 1% decrease in churn can boost it by 7%<\/a>, which means, in the end, retention can be more than twice as powerful as customer acquisition. Are you attracting and engaging the right customers? Are you providing the right support and delivering ongoing value? And where should you start?<\/p>\n

We recently hosted a webinar where Japna Sethi<\/a>, Group Product Manager at Productboard<\/a>, and Chip Lay<\/a>, Director of Product Strategy at Fullstory<\/a>, joined me to chat about strategies for identifying your customers\u2019 pain points, uncovering valuable insights from customer\u2019s feedback and data, and creating proactive support measures that drive value across the entire customer cycle.<\/p>\n\t

\n\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\u201cIt can be intimidating starting with a blank chart and not knowing exactly where to go first … You see a data point that looks bad, but why? Why are the people dropping out at step three?” Chip Lay, Director of Product Strategy at Fullstory\t\t\t<\/span>\n\t<\/div>\n\t\n

Retention is about more than onboarding<\/h2>\n

Spoiler alert: this isn\u2019t about onboarding campaigns. Don\u2019t get us wrong \u2013 they\u2019re really important when it comes to customer retention, and we\u2019ve covered them extensively in blog articles, podcast episodes, and even in our recently refreshed guide, The Onboarding Starter Kit<\/a>.<\/p>\n

But they\u2019re not the whole picture. To increase retention and reduce churn consistently, you need a system that continuously drives value for your customers across their entire lifecycle. And that\u2019s why, today, we\u2019re sharing a tried and tested three-step approach to help you achieve it. Read on for the highlights and, if you want to dive into the specifics, watch the full recording here<\/a>.<\/p>\n

1. Understanding where \u2013 and why \u2013 your customers are getting stuck<\/h2>\n