Your key performance indicator for attaining customer success will be product adoption. In order to decrease churn and boost retention, you must keep track of it constantly. Use product adoption metrics to quantify how much value your clients are getting from your solution. User retention rates and lifetime value will …
Category: Product Usage
For a SaaS business, product adoption is one of the leading indicators of a successful and growing business. According to Harvard Business Review, it costs 5 to 25 times more to acquire a new customer than keep an existing one. Reflecting on the fact that customer retention is the backbone of …
Every B2B SaaS company’s backbone is customer acquisition. Qualifying leads and determine which prospects are most likely to convert into paying customers is difficult. Figuring out how to convert those leads by moving them through the funnel while generating a good user experience is even more difficult. This is where …
For B2B SaaS companies, user adoption is one of the most important elements of sustainable growth. The time to first value or core value of the product was found to be the most important metric for SaaS growth. Research suggested that a 25% better time to value increase MRR by …
You must have heard that the total number of active users is the truest measure of your product’s impact. But I think that the percentage of features used by a customer should be the key to measuring the product. Now before we talk about how do we measure it, let’s …
As customer success managers we all strive to develop that ultimate product stickiness, which leads to ultimate customer loyalty and account growth. But how does that ultimate product stickiness look like? Let us take an example of the simple Point of Sale (POS) Software product. Imagine three customers, demonstrating three …