Predictability of possible churns. How do we do it?
We, product owners and/or founders of B2B startups know how difficult it is to bring a new customer in. Often the sale is not simple, the closing cycle is long, and/or the average ticket is high, which requires many decision-makers to “hit the hammer” when buying a new tool: in contrast to losing a customer, there is only bad service, a critical error in production, or a false selling argument that doesn’t actually exist.
Currently, only recurring new revenue isn’t enough to attract new investors and to have a steady, sustainable growing company: If your churn is above the 5% home, we have a problem.
We’ve already talked in another article about this: the weight of churn isn’t just in the income you missed. If a customer hires you, they have the pain you show. If you do not resolve, your competitor will. You have had a huge effort to bring a new lead, a job of the sales team to training and onboarding him in your solution — now it will be polite and prepared for your competitor. This without counting that, depending on frustration, this churn might speak badly of your company in the market, to peers of it who could buy from you, and if it’s someone market influent the noise will be even bigger/worse.
Do you want this for your company? I’m sure not. So why not invest in the quality of your active customer base, pro-activity customer contact, and predictability of customers who may churn based on historical behaviors?
We have the light at the end of the tunnel!
Anallytica was born with the goal of helping companies build better software and make their users love it! Our purpose goes beyond monitoring NPS, DAU/MAU, and engagement data: we know the behavior of your users and know the health of each of them.
Each user within Anallytica has their own score that is updated in real-time based on 3 indicators vs. a weight each has. These are days of not accessing the software, NPS note, and events within your product (this has an essential role in this quality of the foundation and you can understand a little more about it in this link).
Based on behaviors set by you we understand which customers are likely to cancel or not and show you this on a priority list about which to approach first. And the coolest: if set up correctly, we also show this information with the value of MRR next door, so you prioritize users who pay more!
And with this information in hand, we also know which users are super engaged with you — a super opportunity for an upsell! :)
And when we talk about predictability, we want to be assertive indeed!
The health of your base has been working since day 1 of Anallytica — and with that, you can already turn on the light of the room on everything that happens to your active user base. But we want more!
We are building functionality to capture all of your churned users (whether retroactive or today).
With this, we will understand the key behaviors that caused that user to cancel, to understand what pattern of behavior leads a user to this. So when a new user achieves this bad behavior the grade of it slows down dramatically and it gets a priority on your list!
And this is simple to set up!
If you as an Anallytica user are already monitoring the events, you already have the health function of the base available to you. We want you to build better products, that your users love, and that mostly stay with you. May they are promoters and that by referral basis, bring you new and good deals!
