Flip the Funnel: How to Use Existing Customers to Gain New Ones

BORING YOUR CUSTOMERS INTO LOOKING ELSEWHERE IS NOT A BANKABLE STRATEGY

It’s time, once and for all, to spurn the churn. To do this, we typically have two variables to influence: boosting acquisition and/or lowering attrition. But there is a third pressure point: retention itself as a starting point rather than an ending point. By increasing our success and competence in the retention category—not only in terms of lowering net attrition and churn but also through activating this base and ultimately flipping the funnel—we have an opportunity to transform retention from a reactive or passive task to an active, actionable, and impactful strategic imperative. It also allows us to rely less on acquisition as an addiction to fuel the illusion of growth.