7/31/2023 0 Comments Ttv meaning![]() While we have made some initial progress in understanding the scope of these issues and potential solutions, we anticipate providing a more detailed roadmap by the 14th of June. We are in the process of creating a plan to tackle these problems. ![]() ![]() We have therefore prioritized addressing these issues as our immediate concern. We acknowledge and agree with your concerns regarding the balance of the economy (Silver Lions and Research Points), as well as modification research. Over the past week, we've been diligently analyzing the feedback you've provided. We share your passion for the game, and it pains us that our decisions have not lived up to your expectations. We deeply regret the fact that our actions have let you down, and that we have failed to adequately address the concerns you have voiced over time. User testing and product usage statistics will help identify areas where small UX improvements would make a big difference in TTV.Firstly, we would like to extend our sincerest apologies to each and every one of you. If instructions are unclear, buttons aren’t properly labelled, or settings are buried in complicated menus, customers will stop trying before they get to the Aha! moment. Product usability: the path to realizing value should be the most friction-free, intuitive journey in your product. ![]() Customer Success Managers can help with set-up, offer personalized training sessions and be a great first contact point. Customers will see value faster if you personalize the journey. Customer Success Managers: if your product is quite intensive to set up, try using a more hands-on approach.They provide information about how to get set up, what to do first and will hopefully smooth any bumps in the road on the path to enlightenment. Onboarding Guides: these can be in-product, documentation or a series of drip emails.Many teams will have an effect on shrinking TTV, but here are a few of your most valuable tools: For example, AirBnB doesn’t force anyone to sign in before browsing because locating a great place to stay is what hooks customers. Decreasing friction will ensure more customers complete all of the onboarding steps. Once you know what makes customers shout Aha! you need to decide the most efficient route to get them to it. Facebook’s is when a user connects with 10 friends in the first week after signup.ĪppCues has written a really detailed guide to finding your Aha! moment that’s worth checking out. Dropbox’s is the first time customers add a file to their shared folder. The Aha! Moment is when customers first realize the value of your product. To decrease your TTV, you first need to discover your Aha! moment. If you’re choosing to measure and shrink TTV (which you should), your idea of value needs to be the same as your customers. Until that happens…they aren’t seeing the value. Even if all of those are nice add ons, your customer is giving you money because you say you can increase their Average Order Size. The value that your customer is looking for is the increase in Average Order Size – it’s not cool reporting, a slick set-up tool or really great customer service. This is all about the perceived value from your customer’s perspective.įor example, say you’re advertising an e-commerce optimization tool that increases Average Order Size. Notice that we don’t say what value you want to deliver. In this case, it’s the benefit your customer is expecting to receive from your product. We don’t want to get existential here, but to measure Time to Value, you need to know what value means. Customers tend to churn much faster.Ī short TTV means customers get a return on their investment of time faster – and that means they are more likely to stick around! What’s the “value”? With SaaS, this tolerance for delays or frustration is much smaller. ![]() Customers were willing to wade through the “ trough of disillusionment” following a purchase, because there was already a large sunk cost in the deployment. In the olden days, when customers purchased perpetual licenses, TTV wasn’t as critical. No one wants to spend a lot of time or effort setting up and learning a product that might not even do what it says on the can. Once you’ve convinced your customer to purchase or sign up for a free trial, you have a limited amount of time to show value before they churn. Never is this more true than during the crucial onboarding period. In the world of SaaS, you’re never far away from losing a customer. Overtime, you want to decrease TTV so new customers find value faster. Time to Value (TTV) is the amount of time it takes a new customer to realize value from your product. ![]()
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