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About this Data Deep Dive analysis

This project uses real, anonymized data from a B2C app designed to help individual professionals and small businesses (such as consultants, freelancers, and service providers) schedule appointments with customers.

For confidentiality, we’ll refer to it as MeetXYZ.

While the name is fictional, the insights are real and were used in an actual product strategy for onboarding optimization.

Chapters:

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The challenge

The biggest challenge for MeetXYZ is increasing its activation rate.

MeetXYZ already has a loyal segment of accounts that check in daily, with a retention rate exceeding 90%—comparable to Facebook. Such loyalty is rare in the industry.

However, the challenge lies in expanding the number of new accounts that join this loyal segment. Identifying the behaviors and pivotal moments of users who become highly retained is crucial for crafting effective activation strategies and improving the activation rate.

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The objective

The main purpose of this project is to identify the main activation metrics that will help better predict long-term engagement and retention.

Expected Outcomes:

Through these analyses, we'll identify actionable insights to enhance user activation, engagement, and long-term retention. We will:

• discover the core actions that are critical for user’s activation
• discover the best timing and the best triggers for email campaigns or product guides
• discover segments that are more successful than others at getting value from your product
• discover segments of customers that will churn unless helped to get value

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Analyzed data

For this analysis, we looked at all the activity performed by users inside the MeetXYZ app during the last 12 months, according to the data processed by InnerTrends. No other external data was needed.

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The analysis:

1. Activation rate - current status

The role of activation is to create a clear path for users to experience value and then subscribe to a paid plan to continue gaining that value.

According to the OpenView benchmark data*, between 20% and 40% of signups are expected to experience value, which implies that out of them, between 25% and 50% are expected to subscribe to a paid plan.

• *OpenView benchmarks