#114 The running clock
Happy Sunday, everyone.
My kids hit the age where they love playing video games. Both of them received iPods in the last six months and use their allocated screen time to explore the worlds of Roblox.
A few of the games are the racing kind that remind me of Pole Position or Mario Kart (I know I’m dating myself). If you recall in certain “game plays” of those, the player starts with time on the clock that is running out. The player must avoid pitfalls that deduct time and pass through checkpoints to add more time on the clock because when time runs out, it’s game over.
I believe retention and churn work like that. When a customer onboards, your clock starts. Every interaction they have with your company or product either adds more time or deducts from it.
And like all video games, at some point, you run out of time and the game ends. Similarly, at some point customers churn but the goal is to keep the clock running as long as possible.
Three Things to Ponder
- The entrance strategy is actually more important than the exit strategy - Eddie Lampert
- Don’t date your prospects. Court them.
- One thing I love about great creators, like J.R.R. Tolkien, he doesn't just write a book, he creates a world. [...] Similarly, when we talk about Salesforce, we talk about their acquisitions or the founders, Mark Benioff and Bret Taylor, but you miss that they created a world. - Matt Mullenweg
Three Things to Enjoy
- A good article with sound advice: Persuading the Unpersuadable
- Thought this Audi follow up to Will Ferrell’s GM Super Bowl Spot was fun and well played: Don’t Drop the Ball
- Jon Foreman’s new record is a nice cold weather companion: Departures on Apple or Spotify
Until next time, friends.
-David