New Pendo Survey Shows that Combining Product Data with In-App Feedback Can Increase Product Revenue by Over 100%
New Pendo survey shows that companies who combine product data with in-app feedback are more likely to outperform their competitors in profitability, growth, and churn
San Francisco – February 9, 2016 – Pendo, a data-driven platform to help companies deliver great products, today announced the results of a new survey that showed companies and organizations that capture both qualitative and quantitative user feedback create better products and frequently see increases in customer engagement metrics. Among the many findings, Pendo found that companies who use in-app feedback along with in-depth product analytics reported 109% higher annual product revenue than those who didn’t.
The survey, conducted over a 4 week period, polled nearly 200 product managers and executives from consumer software, B2B software, and eCommerce companies, also found that:
- 77% of organizations that brought together these two sources of product data reported higher growth than their competitors, and 72% reported higher profitability.
- Only 38% of those that didn’t collect this data reported outperforming on growth or profitability.
- Companies with more advanced product analytics and feedback programs showed greater user engagement. 45% reported an average visitor frequency of more than once per day compared to 14% for those who had less developed programs
- 70% of advanced organizations solicit user feedback more than once a month compared to less than 50% of less developed organizations
- 65% of advanced organizations use Net Promoter Score® (NPS) surveys to measure user satisfaction compared to only 14% of less developed organizations.
“The survey results validate what we have seen with our most successful customers”, said Pendo CEO Todd Olson, “Companies that continuously measure and listen to their users build more successful and profitable products. We’re completely focused on making it easier for companies to do this.”
To help companies realize the value of all types of product data, Pendo is rolling out a new polling feature that allows users to solicit feedback directly within their applications. Without any coding users can design and deploy polls to:
- Gauge user satisfaction and calculate NPS.
- Collect open-ended feedback about features from customers who have used them.
- Evaluate content and understand the effectiveness of layouts, pages, features, or other aspects of an application.
- Gather demographic user information such as job roles, experience level, or department.
Delivering polls directly in the app engages end users “in-the-moment”, leading to highly relevant, timely feedback, and much higher response rates. Paired with Pendo’s rich segmentation and analytics, polls can be easily targeted to select groups of users based on demographics or user behavior. The new polling data augments Pendo’s user analytics and helps product teams gather the types of product data that will allow them to grow revenue, and significantly outperform their competitors.
Pendo was founded in 2013 by former product managers that have experienced the joys and challenges of creating great products at companies like Rally, Google, Cisco, and Red Hat, among others. With a powerful analytics and guidance platform designed to help companies understand and influence how users interact with their software applications, Pendo is on a mission to reinvent the way product teams build and increase engagement in their products. For more information, visit: www.pendo.io.