Three Steps to Identify Your Business’s Silver Bullets for Success | by Shirley Bao, Ph.D.

Discover how identifying early customer behaviors can predict long-term retention and increase revenue for your business

Facebook found that those who added 7 friends in their first 10 days were much more likely to stay engaged for the long term. Starbucks observed customers who loaded money into their app during the first month turned into loyal repeat buyers. And Airbnb found that hosts who secured a booking in their first week kept using the platform. Every one of these companies identified a ‘silver bullet’, a behavior that predicted long-term success.

How can your business find your own silver bullets? Here’s a three-step framework I follow to aid you in identifying early signals of long-term customer engagement.

Long-term success usually means customer loyalty, high engagement or high value customers for a business. These are the desirable outcomes that you want to predict with the measurable factors or behaviors within the first week or month of the customer’s experience and provide actionable insights early on.

For long-term retention, the goal is to predict whether a new customer will stay active with…

Source link

#Steps #Identify #Businesss #Silver #Bullets #Success #Shirley #Bao #Ph.D #Oct

Unlock the potential of cutting-edge AI solutions with our comprehensive offerings. As a leading provider in the AI landscape, we harness the power of artificial intelligence to revolutionize industries. From machine learning and data analytics to natural language processing and computer vision, our AI solutions are designed to enhance efficiency and drive innovation. Explore the limitless possibilities of AI-driven insights and automation that propel your business forward. With a commitment to staying at the forefront of the rapidly evolving AI market, we deliver tailored solutions that meet your specific needs. Join us on the forefront of technological advancement, and let AI redefine the way you operate and succeed in a competitive landscape. Embrace the future with AI excellence, where possibilities are limitless, and competition is surpassed.