It was decided that the organization wanted to investigate churn for our SaaS platform from increments in time.
We wanted to correlate which actions a user undergoes within their first 90-days on the platform that leads to the highest retention rate thus decreasing churn. This decrease of churn also correlates to added lifetime value of the customer which is an overarching theme in many SaaS organizations with subscription based products.
It was identified that users that completed three very specific functions, would 87% more likely to be retained for 6-months longer than those who did not. The organization immediately went to work on establishing an on-boarding program that provided a white glove experience walking users through these three steps. It was a huge success bolstering record high retention rates. We realize that all users would not select this white glove experience, as well. A huge emphasis was placed on our Help Center to create a focused pathway to allow people to self-guide through these steps as well.
This portion of what has become a new and improved sales pipeline is merely one example of how data and information can help drastically improve not only the strategy but returns of an organization.
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