#TTV APP REVIEW HOW TO#
Learn more about first value and how to consider optimizing for it within your user onboarding process here. This doesn’t always mean as fast as possible though.
The goal here will simply be to get user to TTFV in the most optimal way and time. This is often referred to as TTFV or Time To First Value within the User Onboarding process since this is the first time you get a chance to deliver on the promise of your business. Time to value or TTV refers to the time it takes for a user to see the value they were hoping to get from your product. No one wants to spend a lot of time or effort setting up and learning a product that might not even do what it promised. Watch this video to learn how the onboarding process relates to the other core goals within your product including retention and upgrading to paid. User onboarding will be essential in successfully increasing the conversion rates of the next 2 steps of our plan to double your SaaS revenue. It will be the key goal within your product that all new accounts that have success with your product will need to achieve. Why User Onboarding So Essential?īefore we go further let’s understand why user onboarding is so important. With this data, you will be able to analyze what points in your onboarding process need improvement. How can you tell if your user onboarding experience is helping users find value or making them abandon your app? Using InnerTrends software, you can take timely actions based on the provided insights into the exact moment users drop off, the average time it takes a user to complete the process, your current conversion rate, and much more. Now, it’s time to find opportunities to grow this number with as little effort as possible. You know your need – onboard an additional 15% of accounts.
To increase this rate by 15% we would need to increase the conversion rate to 23% and get 52 new onboarded accounts per month bringing us to 152 onboarded accounts per month as our goal using the rule of 72. That is a 20% user onboarding conversion rate.
#TTV APP REVIEW TRIAL#
However, it’s also an area that holds a lot of potential for both B2C and B2B businesses.įor the sake of keeping the math simple, we’ll assume that you get 500 new free trial accounts per month and 100 complete the customer onboarding process. Though it’s common for a new user to a website to drop-off when it comes time to create an account, the act of completing the onboarding process (to get to the point where they achieve what an ad or web copy has promised them) can be troublesome as well.
#TTV APP REVIEW SOFTWARE#
Read more he about how we look at user onboarding and why successful onboarding ends with a promise.įor many software applications, onboarding is where a significant number of potential customers drop-off in the sales process. This promise is the value that your product or app can deliver to him or her. What is Customer Onboarding / User Onboarding?Īt InnerTrends we define the onboarding process as the moment from which the user creates their account with your product or app, to the moment when the promise of your product or app is delivered to them for the first time.
#TTV APP REVIEW UPGRADE#
Step 5: Upgrade to a Paid Account – From First Week Retention After Onboarded to Paying Customer Step 4: First Week Retention After Onboarded – From Onboarded User to Returning to the Product within 1 Week Step 3: Get Onboarded – From Sign-up to Onboarded User Step 2: Creates Account – From Visitor to Sign-up Step 1: Visits – From Stranger to Visitor Overview: Getting Started with the Rule of 72 for Doubling your SaaS Revenue In this post, we’ll be covering how to improve your user / customer onboarding rate by 15%. Our framework for making use of the rule of 72, is that by improving five key conversion rates from our example company’s customer journey you can double your revenue in record time. If you’ve been following our blog, you know that we’ve been focusing on the rule of 72, and how it can help you double the growth of your business. Step 3 of 5 on how to double your SaaS revenue using the rule of 72.
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