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Retention & Growth @ OYO | Ex ShareChat

This Saturday was particularly productive as I participated in the "RISE: Mastery in Retention" program by WebEngage. This cohort-based program delves into the nuances of retention marketing. It was an insightful session by Sankalp Rohatgi , Head of Growth at Groww. Here are some key takeaways from Session : Payback Period : This metric indicates how quickly a business recoups its investment in customer acquisition. A shorter payback period means faster recovery of the initial investment. Payback Period= Initial Investment/ Average Monthly revenue from a user. MECE Framework: The Mutually Exclusive, Collectively Exhaustive framework helps create tailored retention strategies by considering the unique needs and behaviors of different user segments, leading to better retention rates. Glue Frequency: It refers to a pattern where after 4 purchases, there is an 80% chance that a customer will remain loyal to the business for an extended period, thereby boosting revenue. Real-Life Case Studies on Retention : Groww: Prevented churn during market fluctuations through educational messaging and engaging users with products beyond the core value proposition. Domino's: Retained high-spending customers on the app through their Cheesy Rewards loyalty program. A huge thanks to Chirag Parmar Harshit Manocha, Shantanu Saha and WebEngage Team for organising this session. #SORMRise2024

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