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Topics
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Overview
The goal of a PLG platform is to detect accounts that are most likely to buy, to expand, or to churn; and to act on them (and their users) in a way that best guarantees a positive outcome.
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Specific to the SaaS market we are serving, is that the whole signal→scoring process cannot be a black box. Because on the one hand, Growth Managers have clearly indicated that they wanted to be able to create and adapt own signals, based on business intuitions. On the other hand, they also indicated that getting some help to create these signals — read: having journy.io do the job through machine learning — was paramount, as they realized they couldn't possibly find all logical signal that could have impact on stage movements. The Signals created through machine learning are called Smart Signals.
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Important! Our ML Engine needs a minimum threshold of 3 signals per stage and 5 past conversions in order to calculate conversion, expansion and churn scores. These scores will be greyed out when not enough data. |
Signals anatomy
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Each Signal, whether Smart or user-defined, is identified by:
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The Signal group is characterized by its name, a description, and foremost the option to show all belonging Signals throughout journy.io. Some Signals are important to show (e.g. one wants to show which onboarding events already occured) while others can easily stay hidden as it only makes sense for machine learning reasons and have little logical sense.
Smart Signals
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As mentioned before, journy.io can create Signals based upon past stage movements, upon holding enough data into its model. What's great about the Smart Signal's ML-model is that it only requires very little training data to start providing meaningful results. The threshold is set at only 5 stage movements per stage. And of course, the more data the model is trained with, the better it becomes. If a Signal's impact becomes irrelevant for certain movements, we will automatically exclude it from the model.
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You'll now find new Signals in chosen group. They will already have impact computed on past stage movements.
Conversion, Churn and Health Scores
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Out of the Signals created, journy.io will automatically compute conversion, churn and health scores. These actionable computed properties can serve to trigger Playbooks,
serve as base for Segments and be sync'ed sync’d downstream your PLG motion, to custom fields in marketing automation, CRM and ticketting ticketing systems...
And as they are scores, you can expect them in the Settings → Scores section. Obviously uneditable.
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By default, the 'Default Health Profile' is directly derived from Health scores. However, the SaaS market has a tendency to be seeing a Good, Bad and Normal account by more than just its likelyhood to buy or churn. We therefore kept the option for a journy.io subscriber to define his own business-typical Health profiles.
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Tip: journy.io offers free onboarding! 🚀
Go to the Onboarding Page and book your 60 minute spot!
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