About the Company
B2C, SaaS company that provides a platform that connects pet owners with vetted sitters for in-home care using a user-friendly booking system and personalized care updates.
“If you are a business leader who constantly finds yourself in the weeds and need to take a 10,000 foot view at your strategy and direction–especially when it comes to pricing and pricing strategies–nDexio would be the platform for you. It forces you to sit down, assess and think about your current situation, what your desired outcome is and what you need to do from a pricing perspective to get there, which can take the form of many different activities you need to do in the meantime to get you to your desired outcome…It’s like a sidekick consultant to your business to help you reach your outcomes.”
The Challenge
- Set churn mitigation discounts: At the time of submitting a request, their churn rate was high (20%+), and they were having difficulty understanding the reason for churn, particularly with infrequent customers.
- They were also facing challenges to dedicate time and resources to researching reasons for the high churn rate as a small business team.
What We Did
- After guiding their team to analyze their company and current practices through a series of tailored exercises we proposed the following solutions and action items:
- Reassess their current earnings plan for sitters, and see if there are any factors discouraging users of the service to join or return. Also, reassess their current user acquisition efforts, and whether they can be more efficiently allocated or expanded to reduce churn.
- Identify a list of non-discount offers (freebies and add-ons) that provide high value to customers at low-cost to the company to include in place of discounts.
- Determine when and for which segments you should consider offering discounts in order to maximize retention and revenue if other offers and perks are not adequate for churn prevention.
- Expand already ongoing effort on gathering customer feedback.
- Segment infrequent users based on their behavior and characteristics.
- Try to implement targeted communication strategies to re-engage infrequent users.
- Establish a timeline and/or milestones for introducing churn prevention initiatives.
Outcome
Through the engagement, our client experienced positive outcomes including:
- Our client felt that our recommendations and next steps were very actionable.
- They had no trouble integrating our recommendations into their existing strategy.
Does our work align with the challenges or needs you currently face? Get in touch with the HelloAdvisr team.
