It’s been almost four years since I spoke with Adobe’s Kevin Lindsay about how companies focus the overwhelming majority of their marketing resources on customer acquisition activities vs. customer retention. And during this week’s Inbound Conference put on by HubSpot, it appears that this is still the case, according to Des Traynor, cofounder and Chief Strategy Officer of Intercom, a messaging platform that helps businesses connect with customers.
Traynor’s session at Inbound on the importance of focusing marketing efforts more on retention is even more critical today than it was four years ago, as more products and services are bought via subscriptions – where companies have to deliver enough value each month to keep customers on board. And it’s that behavioral switch to subscribing vs outright purchasing which means retention takes on a whole new level of importance in your marketing efforts.