Escaping the Build Trap by Melissa Perri

Author:Melissa Perri
Language: eng
Format: epub
Publisher: O'Reilly Media
Published: 2018-11-19T16:00:00+00:00

Retain existing individual users better.

Create new revenue streams for existing individual users.

“So we have to figure out where the problems and opportunities are surrounding each of those,” I said. “For acquisition and retention, let’s dig into the data and feedback we have and try to diagnose whether there are any issues there. For new revenue streams, let’s discuss possible ideas.”

The team set out to pull the data, splitting up into two groups. One team was analyzing the acquisition funnel, looking at every step a user took from the time they got on the site until they signed up. There the team found very low conversion rate from people who went on the site to those who actually signed up and paid.

“We see that we are doing well with marketing, but even with the discounts we already have, they aren’t signing up. How do we figure out what is stopping them? We don’t we have any of their information,” said Monica.

“Have you heard of a tool called Qualaroo?” asked Rich, the lead developer. “It allows us to poll people when they go toward the back button or try to leave the page. We can ask them what’s stopping them from signing up. I can easily add this to the site in about 10 minutes.”

“That is awesome,” said Monica. “Let’s do it and see what we get.”

The team put the Qualaroo widget on its site. Within a week, it had more than a hundred responses.

“It’s amazing, we learned so much,” said Monica. “And no one said they were leaving because of free trials!” It turned out that about 55% of the people said they were leaving because they couldn’t find enough classes in new types of marketing methods, like social media. Another 25% said they were looking for something that could help them get into marketing as a career transition, but they didn’t see how these classes proved they gained any skills.

“We do the assessment at the beginning when they sign up, but we never reassess them to show they’ve mastered any skills,” said Monica. The other 20% of responses included a host of other themes but nothing substantial. “I think we found two big problems.”

The other team was also fast at work exploring retention. “We found that only 40% of people stay with us after six months,” Christa was explaining. “We followed up with 100 people who recently left and asked them why, and 90% of them said they ran out of content that was interesting to them. They had taken about 10 of our classes, but they didn’t find enough on new ways of marketing. It was all the old standard stuff that they could learn anywhere—and sometimes for free on YouTube.”

Now we had two groups of people—existing users and new users—both with the same problem. They were not finding the classes they wanted on the site, and there were not enough to justify them staying for longer than six months.

“We know we need more content, but how do we get it?” asked Karen.

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