The idea that the first purchase represents customer commitment is pure fantasy. The data shows it's just a trial balloon where they briefly kick the tires before potentially bouncing.
I saw this with a client that had achieved cult-like loyalty among its core user base. Yet their metrics revealed a shockingly high 90-day attrition rate among first-time buyers - essentially 9 out of 10 newcomers sampled the product once, then ghosted forever.
@Neela remind to ask you about that client sometime. I’d be curious to know what, if any processes the client had in place to have current customers refer new ones. Love your insights, thank you for sharing!
so many gems in this one Mack.
The idea that the first purchase represents customer commitment is pure fantasy. The data shows it's just a trial balloon where they briefly kick the tires before potentially bouncing.
I saw this with a client that had achieved cult-like loyalty among its core user base. Yet their metrics revealed a shockingly high 90-day attrition rate among first-time buyers - essentially 9 out of 10 newcomers sampled the product once, then ghosted forever.
@Neela remind to ask you about that client sometime. I’d be curious to know what, if any processes the client had in place to have current customers refer new ones. Love your insights, thank you for sharing!