Greg Daines

Want to improve retention? Charge for onboarding, not for the revenue but because customers won’t take it seriously unless you do. When customers take it seriously, they change their behavior to take advantage of your solution and get better results. Results→Retention

@MaxCRoser This chart is fantastic! I'm trying to work on a similar analysis. But, the ONS only seems to have data from 1981 and later. Where did you get the prior data? Thanks for any help!

I think 'survival curves' are a great way to visualize how mortality has changed over the course of history. It might take a moment to wrap your head around how they work, but then you can discover a lot of information in them. Just finished this new version of such a chart.

Where will the pendulum stop for CS? Join @dainesgreg (@ChurnRx), @BodhanShanta (@ArborXR) and Seth Johnson (@LearnUpon) as they discuss how CS leaders can demonstrate their value throughout the business. Register now ⏩ planhat.com/webinars/where…

Who better than our friend @dainesgreg of ChurnRX to help kick things off! In this episode we dive into: - How churn isn't linear (most happens right after the sale) - How NPS/CSAT score don't correlate with retention - How discounting correlates with faster churn

The majority of the market does not want customization, the majority wants solutions that are pre-built in a way to ensure their success. #SaaS

YOU CAN'T PREVENT CHURN IF YOU CAN'T PREDICT IT! It takes time to solve the causes of churn and get customers back on track. And it takes their willingness to make key behavior changes. So the best time to solve it is BEFORE they know they are failing! #startups #retention

② LAGGING FACTORS OF CHURN.These are factors that do correlate with churn but only reveal the problem when it's TOO LATE to save the vast majority of customers. The result is that health scores are can't PREDICT CHURN accurately or far enough in advance to prevent it.

The problem is that most health scores are a combination of 2 kinds of factors that don't work... ① FACTORS THAT HAVE NOTHING TO DO WITH CHURN.A good example is customer satisfaction which we have demonstrated has no relationship to retention. lnkd.in/edprWKGP #SaaS

Customers retain because they succeed, they succeed because they changed how they work. Saas companies must be able to change customer behavior at scale to improve retention. #saas #retention

@dave_christison That's a great term "opt-in complexity", that allows you to have the customization available for those advanced customers. And what do we know about those advanced customers? They are less likely to churn. The default settings solve for those customers most likely to fail.

@dainesgreg amen, learned this first hand. we also embrace an “opt-in complexity” philosophy in our product as well. default settings get you to results but certain elements of the platform allow for deeper flexibility, should you choose

Want to improve retention? Stop making your product as customizable as possible. Instead, bake expertise right into the default product setup. The more the product is already set up to produce results the more likely your customers are to achieve results. #product #saas

Your expertise about how customers achieve measurable results is your company’s most valuable product. #saas #CustomerSuccess #startups

@builtORDtough Exactly! Skin in the game ensures everyone is putting in the effort necessary to get real results from the solution.

@dainesgreg Reminds me of a big mistake many startup founders often make… “giving away their product in exchange for feedback.” Doesn’t work like that :). If they won’t pay for it, the feedback won’t be valuable.

Want to improve retention? Charge for onboarding, not for the revenue but because customers won’t take it seriously unless you do. When customers take it seriously, they change their behavior to take advantage of your solution and get better results. Results→Retention

@OnlyCFO In SaaS, when looking at PLG or SLG, the other big question is which strategy retains your customers better. SaaS companies only win when customers STAY, not when they BUY. I have seen companies with high-converting PLG strategies but with unsustainable churn.

Discounting is a major driver of customer churn. Our data show that discounted customers have HALF the average lifespan of those that paid full price! 👉And it gets a lot worse with deeper discounts. It's not about what it COSTS, it's about what it's WORTH. #saas #Sales

HERE'S HOW TO ENSURE YOUR NEXT RENEWAL USING AN EXPANSION MINDSET: 1) Don't focus on what you accomplished! 2) Show the value to them of WHAT'S NEXT and the real results they should be looking forward to. 3) And give them options to BUY MORE RESULTS.

Our data shows that by far the biggest driver of churn for customers - after their first year - is the lack of expansion. We just completed a huge study (156k customers) that reveals how astonishingly huge this factor really is churnrx.com/post/it-s-not-…

@dave_christison Love it, many at-risk customers struggle to know how to measure the cost of not solving the problem. In those cases, it is an opportunity for us to use our expertise from working with other successful customers to create value from day one by showing them how to measure success.

@dainesgreg One of my favorite 1st call customer discovery questions along with “what’s the cost of not solving this problem for your business?”

Everything changes when you ask the customer this one powerful question: "How will you know that this has been successful?" #saas #startups