How long does it take to make 50 million users?
– Customer Adoption and acquisitions
– Speed of customer acquisition
– What needs to be done. (What did Pokémon go do?)
– What are the challenges, in the process?
– Customer retention
– Lose half of the initial rate, still have a high attrition rate.
– Attrition rate
– Maintain customers very fast.
– Visual Capitalist Article (how long does it take to make 50 million users)
– Use Restaurant Examples.
– Pokémon GO example
Process of converting prospects to customers.
Products and services.
Purchases additional data, to have info on prospects.
Find segments where there is high concentration of prospects. Segmenting population.
3 basic types of acquisition models.
1. Propensity to respond models: Calculating like hood to respond.
2. Revenue Estimation. Estimates the potential revenue generated from the first sale- prospect to Customer.
3. Time to Response: estimate the number of times the prospect will need to. Be contacts before they respond.
Interest- Prospect opens offer email
Engaements- prospects opens link in the email
Conversion- Prospects finalizes the purchase and the sale is made, turns into a customer.
Designing a wining customer Adoption Strategy.
Adoption creates customers for life
– Adoption is about addressing the consumption gap
– Understand how your customer journey relates to your personal journey
– Relevant, timely customer engagement is critical to your success.
Personal journey and wellbeing Vs Customer journey and wellbeing
Your customer journeys
New customer- onboarding-ramping-seasoned.
New Customer Onboarding Ramping Seasoned
CSM Touch • Kick-off Call
• Success plan • Train the Trainers
• Go Live • EBR & Success plan review • Renewal preparation
• Renewal negotiation
Tech Touch • Welcome Email • Onboarding webinars
• Additional training resources • CSAT Survey
• Usage reports
• Product release emails • Expand opportunities
The Value Framework
Getting started with your customers
Get to know your customers and what they expect to achieve with your product.
Collaborate with stake holders and internal teams to validate objectives
Define customer outcomes and assess internal/external resources.