Improve your Retention with this One Change - David Cancel, CEO at Drift

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David Cancel, CEO at Drift presented "Improve your Retention with this One Change" on the Operator Stage at SaaStock 2016 in Dublin on September 22nd 2016 Watch the Video here: https://www.saastock.com/blog/view/improve-your-retention-with-this-one-change-david-cancel-ceo-at-drift

Technologie

Improve Your
Retention With
This One Change
David Cancel
SaaStock 2016

About David Cancel
• 5x Founder / 2x CEO
• CEO/Co-Founder, Drift
• Chief Product Officer, HubSpot
IPO: HUBS
• CEO/Co-Founder, Performable
acquired by HubSpot
• Owner/Founder, Ghostery
acquired by Evidon
• CTO/Co-Founder, Compete
acquired by WPP
• Investor/Advisor/Director to Various
Companies and VC Funds

The most important rule in
management, ‘Get the
incentives right.’
-Charlie Munger
“

Align your pricing,
product, and promotions
with your customers.

Align your teams and
departments to promote
customer retention.

How do we align the
incentives of our
departments?

But ideally you
should study all 25
cognitive biases.

Reward & Punishment
Super-Response Tendency

If you would persuade,
appeal to interest and
not to reason.
-Benjamin Franklin
“

Are your metrics
aligned with your
customers?

Design every teams’
metrics to incentivize
customer retention.

Product’s Internal Customers
Sales Support Success
Engineer Tech Lead Engineer
Marketing

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1. Improve Your Retention With This One Change David Cancel SaaStock 2016

2. About David Cancel • 5x Founder / 2x CEO • CEO/Co-Founder, Drift • Chief Product Officer, HubSpot IPO: HUBS • CEO/Co-Founder, Performable acquired by HubSpot • Owner/Founder, Ghostery acquired by Evidon • CTO/Co-Founder, Compete acquired by WPP • Investor/Advisor/Director to Various Companies and VC Funds

3. One change can improve retention.

4. Really?

7. Align incentives.

8. The most important rule in management, ‘Get the incentives right.’ -Charlie Munger “

9. Simple, not easy

10. But …

11. Which incentives?

12. Two categories of incentives:

13. 1. External

14. Align your pricing, product, and promotions with your customers.

15. 2. Internal

16. Align your teams and departments to promote customer retention.