Nearbound Weekend 04/29: Retention is the new acquisition

Nearbound.com 1 min

Retention is a strategic intention

What’s the most valuable thing, outside of revenue, that partners are driving on behalf of customers? It’s trust!" - Jason Yarborough

I had a convo with Jason Yarborough last week. He told me we have a trust attrition issue in partnerships right now.

If you’re cutting partner programs, you’re losing trust.

Think about it from a customer standpoint, a revenue standpoint, or an attrition standpoint 🤔.

Trust attrition creates a relationship deficiency.

Yet, relationship retention needs to be prioritized right now more than ever.

Jason said:

Retention is the new acquisition. And retention must be a strategic intention.

If you want to retain customers, you need to realize that it’s the partner leader who bestows trust.

When you get rid of a leader, trust goes with them. The partner leader gains trust on behalf of the company.

The company doesn’t bestow trust unto the PAM or magically gain it from a partner.

It’s a relationship, through and through.

The next time you think about cutting your partner program, think about the trust attrition that could follow.

Listen to Jason wax poetic about the problem of trust attrition happening in partnerships right now. Click here to watch.