Marketing Advice Customer Acquisition and Retention 3

Question 1

What is 'product-led growth' (PLG) as a customer acquisition strategy?

Accepted Answer

Using the product itself as the primary vehicle to acquire and convert customers

Answer

Growing a product team before marketing

Answer

Launching multiple product lines simultaneously

Answer

Reducing product prices to attract more customers

Question 2

Which metric tells you what percentage of customers continue using your product or service over a given time period?

Accepted Answer

Customer retention rate

Answer

Conversion rate

Answer

Bounce rate

Answer

Click-through rate

Question 3

A SaaS company offers a free version of its product with limited features to drive sign-ups. What is this model called?

Accepted Answer

Freemium

Answer

Free trial

Answer

Open source

Answer

Loss leader pricing

Question 4

What does 'reducing friction' in the customer acquisition funnel mean?

Accepted Answer

Removing barriers or steps that prevent prospects from converting

Answer

Lowering the price of a product

Answer

Hiring more sales representatives

Answer

Adding more features to the product

Question 5

Which of the following best describes a 'customer journey map'?

Accepted Answer

A visual representation of the steps a customer takes from awareness to purchase and beyond

Answer

A geographic map of where customers are located

Answer

A spreadsheet tracking customer transactions

Answer

A flowchart of internal sales processes

Question 6

What is the main advantage of using personalized marketing communications for customer retention?

Accepted Answer

They make customers feel valued, increasing loyalty and reducing churn

Answer

They are cheaper to produce than generic messages

Answer

They require less customer data to execute

Answer

They work best on new customers rather than existing ones

Question 7

Which of the following is an example of a 'soft' customer retention strategy?

Accepted Answer

Building a community or brand loyalty through emotional connection

Answer

Long-term contracts that lock in customers

Answer

Offering deep discounts to prevent cancellations

Answer

Charging high cancellation fees