Ep 06: The #1 Way to Increase Your Retention Fast

Mar 29

The Number One Way To Increase Retention Fast

The Big Question

People often ask me the number one question when starting a new consulting relationship. They want to know how they can quickly increase retention. Retention is a vital indicator for businesses, directly affecting their revenue and profitability, especially as you scale. While I appreciate their focus on retention, I'm not a fan of the idea of a magic formula. There is not one key aspect to focus on to boost retention.

Onboarding and Orientation Is Key

For most online program owners, whether they run courses, memberships, or group programs, the most significant opportunity often lies in their orientation and onboarding process. Even if you're already doing it, there's always room for improvement.

To illustrate this, I'll share insights from a data analysis we conducted with a client who has over 10,000 members. The analysis revealed that completion or even just the start of the orientation has a substantial impact on retention in the first three months of the program.

This means that enhancing your orientation and onboarding experience is likely the most accessible lever you can pull to increase retention rapidly. When working with clients, one of the first things we address is the onboarding process. We break it down, simplify it using my Community Cultivated™ framework, and ensure that it's easy for people to navigate, not just once but whenever they need to revisit it.

So, if you're currently experimenting with various retention ideas like gamification elements, sending random items in the mail, offering trials, discounts, or months off, I urge you to take a step back and invest time in improving your orientation and onboarding process. Ask yourself these questions:

Are you doing a good job getting people oriented to your program?

Do they know what their next step is?

Do they believe at the end of that orientation that this is possible for them?

Are they confident that you are the person to guide them that they are in the right place?

If you find any gaps, it's time to revamp your orientation. This might involve using videos, emails, text messages, or even live calls. Orientation is an entire experience with multiple touchpoints and mediums, and it's crucial to address it comprehensively to reach everyone effectively.

Monitor Progress

To monitor progress, track how many people have started and completed orientation. Keep an eye on the percentage of members who have taken these actions. Additionally, consider creating reports and tagging those who haven't progressed in orientation. Reach out to those who haven't started within seven days or haven't completed it within the first 21 days.

The primary goal is to ensure that the beginning of their journey leaves people feeling confident they are in the right place, believing in the potential for success, and knowing their next steps. If your orientation achieves this, great! If not, make it your focus for the next quarter, as it will likely have a significant impact on your program's retention during those crucial initial months.

If you are feeling overwhelmed with creating an onboarding plan for your community, I’d love to take the overwhelm out of the process and help you through my Cultivate program!