Hohe Kündigungsrate bei SaaS für Immobilienmakler senken

0:00Unternehmer/Gast I started my business around 2 years ago. I quit my job to go all in and I even convinced my brother to quit his safe 9-5 job and join me. Okay. >> Thing is now that he and his wife want to start a family, but since we're working all day on our own little business, our own little baby, he just doesn't have enough time. So, I feel kind of bad and kind of responsible for that. So, I want to figure this out and grow this thing so you can do that.

0:22Um so, I have an AI SaaS that helps real estate agents and photographers. We make we make 3.3 million a year and we'd like to get to 10 million a year. Okay. But, I think what's stopping me is my churn. Like every week I get 150 subscribers, but I lose like 100 or so. So, I think my business is going to stop growing and even decline in the off season. So, that's what I'm worried about.

0:48>> All right. So, walk me through onboarding right now. Onboarding. Yeah, so the funnel right now is you can sign up with no credit card. Um onboarding is we just implemented this last week. We have an onboarding checklist. Okay. Great. videos and steps on how to, you know, activate and stuff. Um and then we have product tours and stuff that lets you go through the platform, make your first video, edit some photos, and get value as soon as possible.

1:16Okay. And so, you're getting 150 a week, so that's 20-ish a day, right? Roughly, yeah. Okay. And do you have any human that is involved in the onboarding? Right now, no. What's the price point? We sell our most basic package is 60 bucks a month and we also sell for like 360 for the year. So, we try to do annuals as much as possible to reduce churn. Got it. So, what we need to So, what are the activation signals that you have determined so far?

1:46Right now, the main product is photo to video. So, the main thing is going to be creating your first video within your first 7 days. And then another one is editing photos, like AI virtual staging and stuff like that. We just pulled the data. Around 50% make their first video in the first week, but only 10% added their first photo. So we're trying to increase those activation rates. >> Okay, but does making your first video correlate to them sticking?

2:12I believe so, yeah. I'll double check, but >> Make sure you know that, right? And do you have the the metrics on people who edit? You said it was 10%. That's a separate action. And so we might discover I I'm going to bet there's three things here. Number one is who is the actual customer? So like of of the people who are signing up for this, number one is who is buying? Number two is what are they doing? So we have make your first video, use the editing, and what like what source are they coming from? Who are they?

2:46Okay, so that's kind of four different variables that are going to affect which one has the highest conversion rate and LTV. And so I think the vast majority of what is missing right now is I think you should be doing more hands-on onboarding. Cuz the onboarding checklist you have right now is that all automated? Like a it's like a workflow? Yeah, yeah. I mean it's just a a UI dashboard thing. So we have we're trying to do maybe some weekly trainings or something like that to help with onboarding, but Let me let me try and like we need to we need to atomic bomb this and get out of the like this isn't scalable mindset for the short term and then we'll make it scalable long term.

3:20Alex So I would like you to do I mean real world like to start two onboardings a day, one in the morning, one at night. And when they sign up, you book them for the onboarding automatically so that you can talk to these customers and then manually walk them through. I guarantee your onboarding checklist is going to change as soon as you actually go over their shoulder and watch them do it cuz you'll also see the friction in your process, right? But you'll also have such you'll have way more buy-in and you can usually handle the entire onboarding in 20 minutes.

3:49Alex Whereas they're trying to like, you know, suffer their way through it. Does that make sense? Yeah. Yeah. So, just to clarify, would this be like um a group onboarding every day, like twice a day, or like will it Okay. So, group Yeah. A group Zoom onboarding, your brother can do one, you can do the other, whatever. Um that's number one. Number two is you need to segment the data by channel. Number one. Number two, by avatar, which I'm going to guess there's some discriminating criteria that you can figure out, which is probably like how many houses do you sell last year? Or how many houses did you sell this year? That's going to be That'd probably be my biggest signal guess. Um and then we have what are the from an action perspective, which is we have these two actions that we know so far, which is video and editing.

4:33And so, our what we're going to try and find, because we might find out that people from a specific channel suck. And we might find out that one specific avatar is the only avatar and they stay and the LTV of that customer might be a thousand. Right? Right. >> And so, then what we'll do, cuz we just need this data to basically there's only two things that we can do right now, and then as soon as we have that data, there's a a hundred other things we can do. But this is like the constraint right now. So, we're doing the Zoom onboarding so that you can short-term get more data and probably decrease churn just because of in-person onboarding's going to do better. Number two, when you're doing those in-person onboardings, you can be able to witness the process flows and I guarantee you'll be able to remove friction from that process to get it to happen faster and make sure they're doing both those steps. Number three is that once we have uh the inbound data, you'll be able to see which avatars are the highest converting and the channels. And then all of that data then routes back into the front end, which is our messaging is to target this specific avatar on this specific channel, and then when they come in, we we do the Zoom onboarding and make sure that every single person passes go and checks the boxes.

5:39Alex Okay. Okay. That makes sense. I think one thing that I'm thinking about right now is the main reason a lot of people churn is because they only have like four houses a year, right? So, they just don't need this every month. So, I guess you're saying like that ads would map exactly to like, "Hey, not screw those guys, but let's go for like the teams or 200 houses a year or the photographers or something like >> teams is a great idea. Um also, if you know that it let's say it's four houses a year minimum. Let's say that's the number. Um two options for you. Option one is you can just make everyone do annual, and I would say here's why. Or, if you know if let's say four houses a year is the minimum, which is one house a quarter, then you can just bill quarterly. So, I'd say like you have quarterly billing and you have annual billing.

6:19Mhm. Does that make sense? Sure. >> Cuz it cuz we want the value cycle to be aligned with the billing cycle. Mhm. Yeah, I think after we added the annual option around 40 to 50% of people take that now, which is a huge bump, but >> Yeah, I mean, it's it's buy six, get six, right? Yeah, roughly. Yeah. Um I'd be curious to see what happens if you remove the monthly and only have annual. Me, too. Me, too. It's scary.

6:45>> I mean, it's an easy test, man. You can run it in, you know, a week and find out. It's not like you're you're I mean, that's actually the easiest test in the world cuz it's not like you're even changing your price. You're just removing an option. Sure. Okay. So, let me recap this. Number one, Zoom group onboarding. Number two, activation points on that onboarding, which is going to be video and editing.

7:10Alex Get that done in 20 minutes and remove friction from the process. Three, get the data of channel and avatar to see which ones of these have the highest conversion. And And since you won't be able to wait to see churn cuz so many people are going to be annual, you have to just check are they checking both these boxes? And then, uh number four, I would test the annual only. But, once you see it, even if annual only is the winner, I like keeping monthly there because it keeps you honest. And then, basically, once you truly solve churn on monthly cuz it gives you a much faster feedback loop, then you you basically can push everyone to annual because then the economics are better. Does that make sense?

7:47Right. Right. Okay. >> So, we keep the monthly because we need the signal. Yeah. For short term. And then long term once you get >> the product. Yeah, and I wouldn't even try to like I wouldn't try and scale past where you're at right now until you fix this. And then scaling will simply occur. Cuz even if you don't change your front end, if you cut your churn by, you know, 2/3, the business will triple. That gets you to 10. Sure. Yeah. Definitely. Rock and roll?

8:12Rock and roll, man. I'll try that out. And then just the one more thing on booking the onboarding call, like what does that flow actually look like? Is it like a button in the UI? Is it like an an email that says book your onboarding >> it's an atomic bomb. I mean we're going to text, we're going to call, we're going to email. In the actual flow itself is your next step is book your onboarding call. We've got two a day. They're with a real person. Uh so, we actually get you the most out of this thing.

8:37Okay. 100% I'm going to try that out. Appreciate you and good luck to your brother. Thanks so much, man. Have a good one. You bet. All right. Bye. If you are a business owner and you are not growing as fast as you'd like, I'd like to give you a free gift. So, my team and I put together the $100 million scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly where they got stuck and how they got past it. And so, we broke it in these 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources, and finance. And so, no matter what you're struggling with, someone else has already struggled with it and solved it. And so, I'd like to give you this thing absolutely free. You can go to acquisition.com/road map, plug in your business information, and if you want us to actually help you deconstruct and train the business and you're trying to scale, we'd love to help you out. On the going to you page, you can just book a call with my team and we will look at the business, see if we can help and if we can we'll invite you out to Vegas and we'll do this in person live.