Challenges
- Lambdatest’s flagship product, its cross-browser testing solution, is the primary driver in attracting new users to the platform.
- The target market for this solution comprises freelance creators, designers, and other related individuals within the creative economy.
- However, despite its initial success in drawing in users, the product’s retention rate has been suboptimal, with a significant number of users voluntarily churning.
- Therefore, the key objective for Lambdatest at this juncture is to focus on retaining and re-engaging users, as this is crucial to achieving its aspiration of becoming a leading SaaS unicorn.
Strategy
- By implementing an exit survey and tailoring personalized offers based on customer feedback, decreased voluntary churn by 88%.
- Increased retention by 52% by running monthly to yearly upgrade campaigns which increased the LTV by 12%.
- Successfully predicted and prevented involuntary churns, leading to a decrease of 17%.
- Re-engagement through “win-back campaigns” brought back 23% of the past churned users.
- Instrumental in implementing Braze lifecycle management platform for end-to-end lifecycle Automation.
Outcomes
- 23% — Old Customers Wonback
- 88% — Voluntary Churn Reduced
- 17% — Involuntary Churn Reduced
