What is “time to value”?
Time to value (TTV) is the time it takes a customer to realize the value they are looking to receive from your product.
That special moment is also referred to as the “aha moment”.
The shorter the time it takes for your users to reach value, the more likely you are to convert a user to a happy customer.
3 tips to shorten the “time to value”!
The “Bowling alley framework” from the book “Product-Led Growth” by Wes Bush is a powerful user onboarding strategy.
Here are 3 ways to improve the first moments your user spends with your product:
- Straight-Line Onboarding
Make sure your onboarding contains the absolute minimum number of steps required for a user to experience value:
• Which information do we really need from the user?
• What can we eliminate?
• What can we query later?
• How can we break big tasks into smaller subtasks?
• How can we sort the tasks from easy to hard?
- Product Bumpers
Use these to guide the user through the product:
• Product Tours: Let your users choose their starting point.
• Checklists: Like a to-do list within your product.
• Tooltips: Guide if the UI is not self-evident.
• Progress Indicators: How long it will take until the value is reached.
• Example data: Gives a sense of value when user data has not yet been submitted.
- Conversational Bumpers
Use external communication tools to bring users back into the product when they stray:
• Send new sign-ups a welcome message.
• Track where they get stuck in the process and send a hint.
• Remind them via message or social media what they came for.
How many of your users experience their “aha moment”?
Almost all companies measure the “lead” to “sign-up” rate. Few measure the “lead” to “value achieved” rate.
So start screening your onboarding flow and use the tips above to shorten the time to value for your users!
Because if it takes too long, you may never see them again.