Here at LaunchNotes, we strive to build a Product Success Platform that will deliver the greatest possible value for our customers. We spend every day obsessing over ways to improve our product and customer experience, and make that value even more impactful. In fact, we’re so obsessed with ensuring our customers get a strong return on their investment with us that we turned to a tactic near and dear to our hearts: we set out to measure it!
We recently conducted a qualitative and quantitative impact survey with 100 randomly selected customers. And as transparency is one of our core values here at LaunchNotes, we're excited to share what we learned with you!
Speaking of transparency, if you want more information on our methodology, or even a look at the full dataset, feel free to head to the bottom of this post.
Summary of the customer ROI survey results
According to our survey results, LaunchNotes customers on average report a 550% total return on their investment with us. For many companies this would be hard to believe. But considering our affordable pricing (the Essentials plan costs less than $300 per year) and the fact that we’re providing real time savings to highly-paid teams—it’s a figure we’re proud to stand by.
After using LaunchNotes, the average customer is able to save 1.2 days per week. Considering how tedious status quo methods of doing things like product comms and feedback collection can be, we’re not surprised. Just think, if you're doing product roadmapping in Google Slides, writing change updates in Wordpress (plus then formatting and sending a separate email), and then, when it's all said and done, heading over to yet another tool to sort through product feedback and feature requests—the costs add up. Flipping through all those tabs and manually moving data from one tool to another can eat up a ton of time! And that’s just one person managing one product release. Imagine all this inefficiency for a business at scale—with many people across multiple products and features all operating this way.
Using LaunchNotes, teams are able to create and send nearly three times as many product announcements as they were before using the platform. We consistently aim to deliver a user experience that helps teams generate announcements quickly and get them to their users, without the complexity and learning curve of other products—or the jumping-through-hoops and waiting-in-line that often comes with using other martech tools. These tools may have been fine years ago, when months could go by without a product update. But modern SaaS developers ship updates multiple times per week, some even several times a day. Keeping product communication at the pace of product development requires more streamlined tooling.
When product announcements are sent via LaunchNotes, customers realize a 310% average increase in engagement (more specifically, this could mean increased views on an announcement, increased email clicks, increased replies, or some combination of the three). Pulling product comms into a dedicated channel helps your announcements stand out from other comms across your business, and makes the overall experience of finding and consuming product updates easier for your audience.
Churn prevention is a major consideration for every company. Fortunately, one of the leading causes of churn is also one of the easiest to fix: segmented customer communication. We’ve talked to dozens of LaunchNotes customers who report unlocking lower churn rates by improving their cadence of product updates and changes. And more specifically, by ensuring the right users are receiving those updates every time.
New product developments present a great opportunity to unlock new revenue. This could be from getting a new must-have feature in front of prospective customers, or by offering revenue-lifting upsell opportunities to current customers. Even dormant evaluators can come back with their wallets open once they see the right new feature or improvement show up. Roadmap sharing and continuous feature communication can also position you as a more organized and ambitious offering than your competitors, which is another factor that can push evaluators over the line.
Read more: How Narmi accelerates key revenue metrics using LaunchNotes
The fully-loaded cost of an employee in product management, product marketing, or product ops in a major tech hub can easily run a quarter-million per year. Layering efficiency and time savings onto even just one of these employees, let alone an entire team, presents a significant cost savings opportunity. On top of time savings, many LaunchNotes customers are able to save even more by scaling back usage of other SaaS (or ditching some of it altogether).
The figures presented in this report were generated from a survey sent to 100 randomly selected paying LaunchNotes customers which resulted in a 50% response rate. Survey responses were collected in June and July of 2022. Participants were asked a series of qualitative and quantitative questions related to the impact and benefits of using the LaunchNotes platform. To ensure a fair representation of impact, customers using the LaunchNotes platform for less than 90 days were omitted from the sample set. To see the full dataset, along with survey questions and anonymized responses, visit the link below.
See the full dataset.
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Struggling to keep your teams in sync ahead of big releases? Spending half your day answering the same questions about what's shipping when? Hearing about new features from your users? LaunchNotes can help.
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