Why has Blink Health's customer retention rate for insulin savings program participants declined from 85% to 70% over the past quarter?

Introduction

Blink Health's insulin savings program has experienced a significant drop in customer retention, falling from 85% to 70% over the past quarter. This decline represents a critical issue that requires immediate attention and a thorough root cause analysis. I'll approach this problem systematically, examining both internal and external factors that could be contributing to the retention decline.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might have been a recent change in the program. Has there been any modification to the insulin savings program in the last quarter?

Why it matters: Recent changes could directly impact retention rates. Expected answer: Yes, there were some adjustments to the program. Impact on approach: If changes were made, we'd focus on analyzing their impact on user experience and value proposition.

• Considering the specificity of the decline, I'm curious about our data collection. Has there been any change in how we measure or define retention for this program?

Why it matters: Ensures we're comparing apples to apples in our metrics. Expected answer: No changes in measurement methodology. Impact on approach: If there were changes, we'd need to reassess our historical data for accurate comparison.

• Given the nature of insulin as a critical medication, I'm wondering about external factors. Have there been any significant changes in insulin pricing or availability in the market?

Why it matters: External market factors could influence customer behavior independently of our program. Expected answer: Some fluctuations in insulin pricing have occurred. Impact on approach: If significant market changes have happened, we'd need to assess how our program's value proposition has been affected.

• Thinking about user segments, I'm curious if the decline is uniform across all user groups. Do we see any patterns in retention rates across different demographics or insulin types?

Why it matters: Helps identify if the issue is global or specific to certain user segments. Expected answer: The decline varies across different user groups. Impact on approach: If certain segments are more affected, we'd focus our analysis and solutions on those specific groups.