Thank you Kim for covering how to scale our startups and go-to-market this week!
We really appreciate the insights you’ve provided for us. At our core, we’re a customer-driven application. We want to put the future of our application, Chromabill, in the hands of our users. That’s why starting from Day 1 when we launch, we allow users to submit feature requests, vote on features by others, and keep track of the development progress right from within the application.
We want to provide our users the personal finance application they deserve and to do that, we’re focusing on (Option B like you mentioned in your video) which is Customer and Revenue Retention in order to create a sustainable application for the long-term. As you said, it's far easier to keep current users than to acquire new users. We’d much rather have fewer customers and higher retention rates vs. a ton of customers and very low retention rates. Here are some questions we had, appreciate all the help and insights! Looking forward to the Live Q&A.
1. What tools or services can you recommend for tracking retention?
2. In regards to the 'Align for Customer Happiness' slide that you presented on, for early new hires, do you have a recommendation on which key hire would make the most sense for very early on when we launch our MVP? Marketing? Sales? etc.
3. What kind of questions can I ask my users who are nearing the end of their free trial period to gauge if they would be interested in continuing the service with us?
4. I know the more data, the better -- but what core metrics should I start measuring on day 1 of going to market?
5. I really enjoyed the section you discussed regarding operational excellence for new hires and the mindset we should be looking for in terms of vetting candidates. In respect to these bullets that you had mentioned, what key interview questions could we ask to gauge if they’re a good fit?
- Do they have a Growth Mindset?
- Are they curious?
- Are they coachable?
- What is their work ethic?
- Have they had prior success?
- Are they culturally additive?
- Do they bring a new perspective?