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Hey <<First Name>>, 

We are very excited to launch the first edition of Retention Design: The newsletter! There is a new funnel in town and it's called the Retention Funnel. It starts from sign-up to your product or service and ends hopefully never, since our goal is to create lasting relationships with our customers. So let's talk about the steps in building this lasting relationship. 

Cheers,
Anna & Inna @ CXtlv
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Onboarding

Consider onboarding as your first date with your customers. There was some courting (your acquisition efforts), you asked them out (maybe several times) and finally they agreed by signing up. Now you have one shot to make them interested enough, hopeful enough that something good may come out of your interaction. And as you know many first dates don't continue to second dates (there was just no click).
The time from sign-up to getting your customers hooked is called "Time-to-Awesome", and this is exactly what on-boarding should focus on- getting your customers to a first successful use of your product with minimal friction. 

The Trial

After a successful first date, usually come more dates. The goal- figure out if this acquaintance has the potential of becoming a relationship (Before going-steady). The expectation is that from date to date you learn more about each other and that the time you spend together becomes more enjoyable each time.
There is a period just like that for the customers that you were able to on-board, it's called the trial period. The time from first hook to being ready to commit (by payment or otherwise) is called "Time-to-Value". 

 

Conversion

You know this conversation well, it comes when you want to make sure your significant other is on the same page as you, and you can safely say that this is a committed relationship. 
If your product has a free trial, this is where the free trial should end, and if you got your customers to see the value in using your product they will be ready to pay.
 If you don't have a free trial, this is the when your customers should be using your product consistently and often. 

Happily Ever After

This is the state we aim to reach and stay in. There will be moments of crisis and our product and service will be evaluated on how well we handle them, they are called "moments of truth". But the most important thing in any relationship, is not to take our significant other for granted, because the moment we do, some other product might come and sweep them away.
Happily Ever After
In this newsletter we will be publishing guidelines, case studies and collecting the best articles, podcasts and videos on designing the retention funnel.
We would love to hear from your experience, what kind of retention challenges are you facing? Just hit reply on this email to tell us.