If you build it, they will come. While maybe true for amusement parks or $5 all-you-can-eat buffets, this adage does not apply to new software features.
A lot goes into building, designing, and marketing a new feature in your app. If one piece of the equation fails, your stellar feature could quickly turn into a dud.
Rahul Jain, longtime PM at experience optimization platform VWO, understands this better than most. He has rolled out countless features during his 5-year tenure and knows first-hand what makes some products more successful than others. But, it wasn’t always so easy.
In this story, we’ll share how Rahul used analytics to build a data-driven organization, improve product adoption by up to 15x, and prevent churn.
Building a data-driven culture
As with any SaaS platform, VWO is in a steady state of change. They build new features, get customer feedback, and then, naturally, build some more. Since Rahul joined the team, VWO has evolved from an A/B testing platform to a complete experience optimization platform that offers deep insights (like funnels, session recordings, and heatmaps) and push messaging, among a host of other things.
Adoption vs. frequency graph of a product feature
For the less successful features — the features that wound up in the bottom left of the chart — they could start exploring the reasons behind it. Are customers able to find the feature? Do customers know how to use the feature? Do customers need the feature? This increased adoption from less than 1% to over 15%.
VWO’s data-driven approach to customer success and churn prediction has helped increase dollar retention rate (DRR) significantly.
Improving activation rates for new features
The business impacts of this enhanced focus on product analytics are impressive:
- Democratized access to detailed product analytics and adoption dashboards
- Increased the number of events tracked from 10 to 1,000+, covering possible customer action in the app
- Improved adoption rates across all features, including a 15 percentage point increase of the new segmentation feature
- Significant increase in dollar retention rates
In addition to all of that, Rahul and his team managed to create a more data-driven product organization. They now have a deep understanding of their customers and can make better decisions as a company. Growth can focus on promoting the right features to the right customers. Customer success can take action on at risk accounts before it’s too late. And, lastly, Rahul and his team can eliminate assumptions when it comes to prioritizing focus areas for the product.
Rahul and his team managed to create a more data-driven product organization. They now have a deep understanding of their customers and can make better decisions as a company. Growth can focus on promoting the right features to the right customers. Customer success can take action on at risk accounts before it’s too late.
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