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Concentrate on customer value and stickiness first. This is not the same as "more features"! Rather, what are the key things that customers love about your serv
by _ah 5y ago
Concentrate on customer value and stickiness first. This is not the same as "more features"! Rather, what are the key things that customers love about your service which will cause them to stick around? How can you improve those specific things?
Right now you have freedom of motion. You can make experiments and you are mostly insulated from negative effects due to the small customer base. It's harder to make changes later.
Any investments in customer acquisition are likely to be a waste. If you churn customers every 6 months, any new cohort is a time-limited boost to revenue which will quickly disappear. If you improve retention to 12-24+ months, now you have better revenue over time AND you're able to capitalize on marketing. Same thing with increasing spend per customer: find out how to hold onto them first.
- floridageorgia 5y agoJust what I needed to hear. Thank you for the insight.