How a leading SaaS company increased retention through product engagement
4 percentile increase in long term retention
A leading SaaS company wanted to increase retention in early tenor customers, especially customers who were in the trial period of the subscription by increasing their engagement with the product during the first few days of signing up for the subscription.
The LatentView Solution
By analyzing engagement patterns LatentView identified characteristics which included actions users took and features that they used in the product early on that would lead to greater stickiness. This was done through a Feature importance analysis to discover the “AHA moment” within 7 days of Subscriber sign-up.
The After State
With a better understanding of which actions and features drove engagement early on, the client deployed campaigns that highlighted those features or actions which led to an improved engagement with the features targeted by 78% driving up product usage.
Insights on early growth drivers helped customer engagement with the product resulting in a 4 percentile increase in long term retention. This has larger implications on user experience where customers started to have a better understanding of how to use the product more effectively early on.