115k net profit a month, 105k profit from 60k new users and 100k MAU. Relationship niche. 60% monthly churn for new customers based on install month.
3 conservative founders who are good at marketing but crap at product. We’ve ran price tests, interviewed customers, and have only been able to lower churn by 10% in a year.
What we haven’t done is taken big swings and tested new feature sets since the downside of ruining our 135k mrr is tangible and switching from weekly to yearly subs may take a few years to see uplift.
What do we do? Do we hire an American product lead? Do we outsource to an agency?
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Sounds like you're stuck in the classic "don't fix what ain't broke but it's kinda broke" trap lol
Maybe start with some small A/B tests on onboarding flow before you blow money on a product lead - 60% churn screams that people aren't getting the "aha moment" fast enough
Bring in a business analyst with experience in your niche.
What problem are you trying to solve? Are you asking the right questions? You mentioned lowering churn, but do you know why you have more churn than you believe you should have?
Have you tracked your marketing funnel. Where are you losing users? Trace the process end to end, and find the bottleneck. Happy to offer more advice. Good luck! Sounds like you have a great product already!
Hi! It's always sad to see when people leave but there's always a good reason. Do you contact the people who leave? Listening to what is holding people back is key.
60% monthly churn is brutal but if you're at 115k net profit you're doing better than most. Real question is whether lowering churn is even the right priority vs just optimizing for acquisition.
Before hiring anyone, figure out why people are churning. Not through surveys - actually talk to people who cancelled and ask them to walk through their last session before they left.
You said you interviewed customers but if churn only dropped 10% after a year, you're either talking to the wrong people or asking the wrong questions. Platforms like CleverX can help you recruit people who actually churned instead of just whoever responds to your in-app survey.
Switching to yearly subs when you have 60% monthly churn sounds like a recipe for pissing off customers who realize they hate the product after month 2.
Figure out the churn reason first, then decide what to do about it.
What have you heard from customers who leave? Consider offering an incentive for them to talk to you. Something like a $25+ gift card to answer a survey or even more to have a call with you to discuss the issues could be a cheap way to get good feedback.
Also, do you have any analytics that will let you see how people are actually using your product or if there are bugs/errors they're running into?
Can you explain to me what it means to be good at marketing but bad at sales? I'm confused.
I never said that. I said we are good at marketing but bad at product!
But that's exactly what I said...
How did you find your ideas? What places did you find your customers? Did you take on any debt?
Customers are acquired organically. No debt.
That's awesome man. I would love to learn from you.