On today’s episode of Retention Talk I speak with Janna Bastow, CEO & Co-Founder at ProdPad. We talk about the indicators of engaged users, predicting churn, and iterating on packaging and pricing.
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Key points discussed in the episode
It begins with onboarding. When somebody starts, we ask them about what problems they’re trying to solve. And we’re starting to be able to match that to reasons why people might cancel or might not complete their onboarding.”
– Janna Bastow
Indicators of engaged users
As Janna says, they look for the number of comments on the app as it’s a clear indicator of someone testing it out to see if it works. They also look to see if a user is integrating another tool on the app. Folks who fail with integrations may not post as much and aren’t likely to stick around in the long run.
Predicting churn
A huge part of what the folks at ProdPad have been doing is trying to figure out which activities people are or aren’t doing before they churn. The data is transferred to the CS team who then reach out to customers whose usage has dropped off.
Iterating on packaging and pricing
A big piece that Janna and ProdPad are looking at is how to better package and price the product to provide the proper value at the right size for the right customers. Pricing is a crucial tool in retaining customers and it seems they’ve been doing it right over at ProdPad as Janna says their first customer, ever, is still with them.
If you’d like more insight into your own retention—or even a free retention audit where we can benchmark you with actual relevant data—reach out to me at neel@profitwell.com.
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