User Acquisition vs. Retention w/ MarTech Podcast's Benjamin Shapiro
Episode 16 welcomes Benjamin Shapiro to discuss user Acquisition vs. Retention.
Benjamin has an extensive digital marketing background, working on the marketing team at eBay in the 2000s, and then leading marketing for an assortment of startups before creating the leading podcast on marketing technology called MarTech Podcast.
Benjamin's point of view comes from nearly two decades of practical marketing application experience. His opinion is the "smart money is in retention" because that is the highest return on investment and the most efficient part of a marketing team's budget. He also stresses that marketers aren't primarily focused on user acquisition but “every marketer must learn how to acquire because its a requirement to start up and bring customers into a business”.
The takeaway, every business has to acquire first. Then the challenge is to know when to focus on retention. There's always pressure in marketing to show growth metrics and an ability to scale. However, retention is more efficient and cheaper in the long run, so great businesses acquire and they retain their customers.
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