User Engagement: The Window to Your Customer Retention Soul
In the Trenches FAQs
Product Knowledge: Asset or Liability for a Product Manager?
Product Management Playbook
Market Problems vs. Customer Goals: Which One Offers More Valuable Insights?
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Developing a Sustainable Growth Strategy: What Got You Here Won't Get You There!
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This month we focus on user engagement as a leading indicator of customer value and the subsequent impact on retention and recurring revenue.
We also look at the shift from a "market problem" focus to a "customer goal" focus and it's impact on growth.
Last but not least, check out our brand new lineup of training programs and flat rate fee structure. Learning advanced skills to accelerate growth has never been easier.
Enjoy our August issue!
John Mansour, Managing Partner
User Engagement
The Window to Your Customer Retention Soul
If your products consistently make people better at their job in a way that's valuable to the customer organization, you'll have those customers for life.
In a world of SaaS and recurring revenue models, customer retention is the single biggest testament to the value of your products and services. Unfortunately, there aren't a whole lot of telltale signs that customers are likely to renew or defect until it actually happens. A strong pulse on your user engagement offers the clearest insights.
Building niche products for horizontal markets is a successful strategy most companies employ to get started. But it's not a sustainable growth model.
Products commoditize faster and competitors move in quicker. Long-term growth can't be dependent on a string of "home-run" products, and being the low-price leader might be a good strategy for Walmart, but it's not a viable option for most B2B companies.
A vertical market growth strategy is sustainable for three reasons.
Your focus shifts from market problems and products, which are highly debatable, to customer business goals, which are factual.
Forecasting growth by market segments is far more reliable than forecasting revenue for each product.
Executing a vertical market strategy is easier because products, marketing and sales are going in the same direction versus product strategies that take everyone in different directions.
The Proficientz
Framework and
training programs are the only ones on the market that give you the best practices and advanced skills necessary to execute a vertical market growth strategy with horizontal products.