Trustpilot is a wide-spread consumer review platform. Founded in 2007, they have over 1m reviews posted every month from consumers. Reviewers share their experiences with a company, giving a score, from one to five and a free-text comment. Companies proudly display the scores on emails, websites, and other mediums as a form of social proof. As such, it’s important to understand how Trustpilot works and how you can influence the scores....
Is this a clickbait title? Perhaps. Consumers are 74% more likely to purchase from a business with positive online reviews, coupled with Trustpilot’s reach - it’s becoming a easy decision to manage your TrustScore. Done successfully, there’ll be no shortage of customer feedback on your products and services, providing the following benefits: Word of mouth advertising. Trustpilot’s 3 million reviews posted every month help provide social proof for consumers...
In this post I want to break down a question I received on churn’s relationship to sales growth. In the end, we’ll both have an answer to this question, and more insight into churn’s effects on a business. The question reads: “What direction does churn tell us to go? If churn is based on all deletes, would churn go consistently go down b/c deletes within the month are relatively low when compared to the total customer base?...
Customer churn refers to the rate at which customers stop using a company’s products or services. Within the SaaS environment, it’s simply the rate at which customers cancel their subscriptions. The two main measures of churn are: Customer churn Revenue churn These two metrics are often correlated but they have subtle differences. Customer-based churn is when the paying entity, be it an account or user stops using your service. Whereas, revenue churn encompasses less customer spending or plan downgrades....
There is a lot happening in New Zealand’s economy currently. New Zealand is officially in a recession with new GDP figures that came out yesterday, a monetary policy update is due next week and an election is taking place mid next month. Thursday’s numbers from Statistics New Zealand represented a -12.2% reduction in GDP for the June 2020 quarter - the largest quarterly fall in GDP on record. Which, unlike the previous quarter’s figures only captured a week or two of New Zealand’s nationwide 4-week lock down, June 2020 figures captures the lion’s share of the lock down....