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Customer Cohort Health Diagnostic for Relay SaaS Platform

Relay is a mid-market B2B SaaS company selling project management software to teams of 10-200 employees. They operate on monthly subscriptions and have been growing steadily for three years, acquiring customers through a mix of organic search, paid ads, and partner referrals.

The VP of Customer Success has noticed that overall monthly revenue retention has been declining over the past several quarters despite the sales team maintaining strong new customer acquisition.

The business question

What is driving the decline in revenue retention, and what should we prioritize?