The Bootstrapped Founder

253: Focusing on Customer Retention Features

Sep 22, 2023

12:48

Snipd AI

This episode focuses on the importance of aligning software features with customer needs and building workflow-oriented features. It emphasizes staying focused on the job to be done and evaluating feature requests. The chapter also discusses the challenges of business stagnation and suggests selling the business on acquire.com.

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Balancing complexity and feature requests by aligning them with the customer's core job can enhance adoption and retention.

Understanding the workflow inputs and outputs is crucial in determining feature criticality and improving the customer experience.

Deep dives

Building features for retaining customers

Large companies often focus more on attracting new customers than retaining current ones, leading to building features that cater to growth metrics. However, for indie hackers and small software products, customer retention is crucial. Balancing complexity and feature requests is a challenge, as it's important to cater to the job that the customer needs to do with the tool. Features that align with the customer's core job have a higher chance of adoption and retention.

Focus on Retention Over Acquisition

00:42

Introduction

2min

The Importance of Aligning Features with Customer Needs

3min

Focusing on Retaining Customers and Building Workflow-Oriented Features

4min

Staying Focused on the Job to be Done and Evaluating Feature Requests

2min

Challenges of Stagnation and the Option of Selling Your Business

1min

Buckle up for a voyage into the intricate world of software feature decision-making! Promising to equip you with insights from my journey, this episode helps you navigate the choppy waters of determining which attributes to include in your software business and which ones to abandon. We'll unravel my personal blueprint for assessing feature requests and enhancements, with a particular focus on the crucial understanding of 'the job to be done.' Together, we'll dissect the correlation between feature alignment and customer retention, and you'll gain clarity on the two critical factors that weigh in when assessing the importance of a feature - workflow inputs and workflow outputs.

The blog post: https://thebootstrappedfounder.com/focusing-on-customer-retention-features/

The podcast episode: https://share.transistor.fm/s/a1f7ff7f

The video: https://youtu.be/llsICCu2Af8

You'll find my weekly article on my blog: https://thebootstrappedfounder.com

Podcast: https://thebootstrappedfounder.com/podcast

Newsletter: https://thebootstrappedfounder.com/newsletter

My book Zero to Sold: https://zerotosold.com/

My book The Embedded Entrepreneur: https://embeddedentrepreneur.com/

My course Find your Following: https://findyourfollowing.com

Find me on Twitter: https://twitter.com/arvidkahl/

This episode is sponsored by Acquire.com