In our experience, this is not always the case. Here’s why.
We are dealing here with ‘Time to First Value’. For those of you who are new to the concept, here is a short definition.
Now, it goes without saying that customers will get the wrong impression of your product if your on-boarding process is not straightforward enough, and they will churn. Naturally, the faster you convince them, the better for your company.
So it might seem counterintuitive to challenge this view. But hear me out:
It all started with one of our customers who wanted to decrease the time to first value. Before they started, they asked me how big the correlation between the time it took to get to the first value and the retention of users was. We crunched the numbers and came to a conclusion that was surprising to everyone: in their case, the longer it took people to get to first value, the higher the retention.
This is how the retention curve looked like for the users who on-boarded faster vs. those who took longer to get on-boarded.