Jonny has a background in banking and his analytical skills are one of the reasons I love talking to him about retention. Here's a brief summary for what we cover in this episode.
- Jonny gives us a run down of where he was before Huron and how it has helped
- We go over how to chop up LTV to make it more manageable
- Are you looking at lifetime revenue or lifetime profitability?
- Jonny teaches us how we can segment LTV by discount codes
- We talk about what products are best for starting a relationship with
- Jonny explains the two types of journey flows they create (reorder flows + new item pitches)
- We talk about a set of customers that bulk order
- We discuss the importance of knowing reorder intervals by each product type and size
- The power of going beyond order data with surveys
- Jonny tells us why he sends emails as himself
- Some retention efforts don't scale and you cant track and thats ok
- Are samples a retention play?