Look at The Retention Chain above.
Did you realize that Retention is an outcome?

For an outcome to occur... You don't focus on the outcome itself.
You focus on the steps that lead to the outcome.

This is what I learned in my sports psychology class: Outcome goals vs process goals.

For example...
My outcome goal is to lose weight.
My process goal is to exercise a certain frequency a week.
And to have a daily calorie intake of X kcal.

I will not lose weight just by weighing myself on a scale daily.

Similarly... If an athlete wants to win a gold medal.
They do not keep thinking "I want to win".
Because winning is an outcome.
It doesn't happen just because the athlete focuses on it.
The athlete has to focus on the right training, the right nutrition, and getting sufficient rest.
By the time all these critical aspects are optimized...
The chances of getting the gold medal are maximized.

Now, let's look at what many businesses are doing for retention.
They use retention tactics like CRM, email follow-up sequences, loyalty programs, and discounts.
With reference to The Retention Chain....
Those businesses are trying to fix retention by focusing on the Retention level.

But as with anything else, retention doesn't work that way.
Retention has to be fixed by focusing on the processes prior.

By the time most retention tactics are deployed...
Trust has often been eroded significantly.
Multiple trust leaks have already occurred repeatedly in the client journey.
Tactics can't fix what a broken philosophy created.

Even if people decide to come back and take up the promotions or discounts...
That's purely due to Utility Retention.
There's no loyalty.
Once a better alternative appears, people leave again.
That's not what we want.

We are aiming for Voluntary Retention.

Since retention is the outcome in The Retention Chain.
It means we should look at everything that occurs before Retention.

Namely:

1) Mindset.

2) Culture.

3) Promise.

And

4) Delivery.

Those 4 steps lead to voluntary retention.

People stay willingly.
Because they're happy.
They trust the business.

And they see meaning in staying with the business.

Trust + Meaning = Retention.

This is the Retention Formula.

The Retention Formula highlights the elements needed for Retention to happen.

The Retention Chain illustrates what businesses need to do at a systems level...
So that Retention occurs naturally.

Retention drives the whole business.
It happens before the sale. Not after.

It starts at the first point of contact with a prospect.

First impressions count.

Retention is designed intentionally.
It's not an afterthought.

Now, I'll deep dive into each step leading up to Retention.
We start with the first step: Mindset.