Link: Adobe Summit 2019 analysis – CX hype is countered by Chegg’s digital turnaround story

Chegg isn’t digital-only today. They still ship five million textbooks a year – but their mission has changed. And, as Narayan pointed out, they now need new metrics. Rosensweig said those metrics include subscriber growth, revenue growth, engagement, renewal, and conversion rates. But there’s an underlying metric: create something awesome.

What we learned was you not only have to get them to subscribe, you [also have to] lower your cost to customer acquisition, which at one point for us was 27 dollars. Now it’s $3.50. Our renewal rates were 63 percent; they’re now in the mid-80s for a monthly renewal.

Source: Adobe Summit 2019 analysis – CX hype is countered by Chegg’s digital turnaround story