Topics discussed in this episode:
Moving away from the "solution-first" mindset
- As Kevin puts it, they try not to just keep fixing every single problem a customer comes to them with. Instead they gather data around the underlying problem and use that to improve the product. Instead of making faster horses, Meister is trying to evolve into cars.
Activation is the first step in retention
- If folks sign up but don’t activate, writing an email to ask what happened can illuminate problems in your onboarding process. A customer who doesn’t understand the product in the first place is unlikely to stick around and boost your LTV.
Build a strong relationship with other teams
- Sometimes there can be a natural tension between product and other teams. Kevin says, the solution is to work together with customer success and sales because all teams have contact with the user. Additionally, people who come through your self-service funnel are just as important as customers who sign up through the sales team, and oftentimes these are people who are educated about your product and interested to move forward with what they already know.
This is a ProfitWell Recur production—the first media network dedicated entirely to the SaaS and subscription space.