Understanding retention for Propsoch is slightly different that traditional B2C products.

For that, let’s first understand the high level flow of a Propsoch user:

As seen in the above diagram, Propsoch starts monetizing users at the start of their journey itself to provide the services required. Services being: A - providing a detailed property report

B - guided homebuying experience

And at the end of their journey, Propsoch makes ~5 LAKHS+ as commission from the property developer. To make this money, we need to make sure users reach this point after they have opted for either service A or service B.

So, we can look at retention as No. of people sticking till the end and buying a house..

i.e., conversion rate of users from stage 4A or 4B to stage 8.

Additionally,

Buying a house for most people is a lifelong commitment. So, the natural frequency of the product is Once in a lifetime. And in such cases, it’s difficult to look at retention by plotting a retention curve.

Instead, we’ll look at retention numbers like this:

OVERALL RETENTION RATE: 65%

which means that once people pay for report or guided homebuying, 65% of them ended up sticking till the end to buy a house.

Based on insights from user calls, every user spoke positively about their experience in finding a home with propsoch. They loved the process and felt very confident when making a decision at the end, because they had the complete picture and necessary info required to choose the best option.

Conversion for report users is relatively low because

• In the initial days, the team was experimenting different prices for report.. ranging from 1k to 15k.
• General trend observed was that people who pay lower price for report weren’t committed to follow through the process till the end.
• Whereas people who paid a higher amount, 10k or 15k were more invested and committed till the end of the process of finding a house.

✅ RETENTION

For Propsoch, user segmentation is as follows:

Out of 100 casual users,

• 69% users are core users, out of which 50% are directly paying 15k which is a higher value than the entry level fee to buy 1 report.
• and 45% power users buy a house which results in a revenue of ~5L/user.

The rationale for depth of engagement is similar to retention section since here, the more time a user spends evaluating properties with Propsoch, the more stages they cross, and ultimately buy a house.

>50% users are core + power users, hence

✅ DEPTH

Insights from user enquiry calls (casual users)

• People show interest in the solution we offer but change their tone or interest when they find out they’ve to pay 10k or 15k.
• People want to get a sample experience first before paying this amount.. for which we share sample report at the end of the call.. but the team is not really closing the loop to check if these people are coming back to pay for report after seeing sample report.
• Once they hear about 10k or 15k, they start giving reasons such as will check with wife and get back. Here again, the team is not really closing the loop to nudge these people to come back.
• Conversion rate of these enquiry calls is very low. Only 5% to 10% of acquired users end up paying for report or guided homebuying experience.
• • Goal is to take this up to 40% at least since the conversion rate goes up to 50% when the founder takes the enquiry calls vs sales team. Which means even though price point may be an issue, there’s still 50% chance of converting users.

Insights about core users

• Those who have paid 10k or 15k seem to stick till the end to buy a house. They’re more invested in the process after paying this amount.
• Users who came via referrals immediately paid 15k and got started with the process of finding a house. They didn’t seem to have much issue with the price point.

Insights from power user calls

• Users who have completed the process and bought a house, they realise the value of the service and accordingly to them 15k seems like a fair price to pay for the service.

Propsoch makes finding properties to buy across Bengaluru easier, smarter, and transparent.

How?

1. By providing detailed reports covering 80+ parameters about a property
2. By providing expert guidance to finalize the right house from 10–15 options handpicked to suit the buyer’s must have requirements.

Why do people need this?

The house hunt journey usually looks like

🔍 Hours spent digging through listings, trying to decipher real estate jargon.

🤝 Dealing with multiple agents, each with their own agendas.

🚗 Driving across town, only to find the property looks nothing like the photos.

And after all this?

You settle on a place that's "just okay", only to find hidden issues after signing the papers, and noticing with biases that skewed your decision-making.

That's exactly the puzzle Propsoch is here to piece together.

Propsoch is a homebuyer’s digital partner in the property market.

Buying a house is a big investment. Nobody wants to have regrets about this decision.

People are paying propsoch to access information about a property that calls out all the merits, demerits related to floor plan, development trends, neighbourhood, and 80 other such parameters.

Such information is usually not easily accessible to the end user.

Having access to this information helps a user gain clarity and take an informed decision without having to rely on superficial information provided by unreliable and biased sources such as brokers, internet, or even the sales team of the property developers (they only speak about the positives to sell the property).

All users who seek report or recommendations with expert guidance to finalize house.

What is the biggest value user gets from Propsoch?

1. Saving time and increasing efficiency to research houses and choose the right one.
2. Getting clear and unbiased information on a property that users wouldn’t otherwise get from substitute ways (brokers, developers, internet)

Propsoch acts like a smart research assistant and prepares a detailed report for a property based on 80+ parameters like floor plan, neighborhood, amenities, carpet area, connectivity, etc.

Here, people are paying for the insights present in the report. The more parameters a user analyses, the more clarity they gain to make the best choice.

So, create pricing plans for a user based on:

1. How many parameters a user wants to assess for a property.
2. How many properties a user wants to evaluate with X number of parameters.

In some cases, people would also value time when their urgency to buy house is high. So we can include this flavor too in the pricing plans.

1. How quickly can they finalise on a house.

How to build this perceived value for a user before they pay?

1. Show 2–3 pricing plans that compare the value for money they get.
2. Provide a free sample report that covers all 80+ parameters for a property.
3. In that report, clearly mention which parameters are available for which plans.
4. Share testimonials of similar personas who talk about their experience, the value they got for the money they paid, and in how much time they found a house.

At the beginning of a service (report or guided homebuying).

But before that, make sure they’ve completed the following actions:

1. Viewed a sample report
2. Seen 1–2 testimonials similar to their persona
3. Experiment and see if this step can be made optional going forward: Completed an enquiry call

Access to data on properties - Report (ICPs who are in 2 minds after shortlisting options by themselves)

or

Access to recommendations - Guided homebuying experience (ICPs who need help right from finding options to buying a house)

Core value prop: Make the right choice when you buy a house.

Currency that helps users experience core value prop: Access to property insights.

Core action user takes to experience core value prop: Pays for report or guided homebuying experience.

Charging the user a low entry point amount ₹500 to ₹1500 where they get to see basic details.. in this version, we’ll give them a peek to deeper details.. if they want that, they’ll pay more. If they want to do this for more than 1 report, they’ll pay more.

Show different pricing plans for report and guided homebuying since the use cases are different based on time and effort put into finding a house

Pricing plans for REPORT

—

Pay now to unlock a free complimentary review call with a property expert to discuss the report at length.

—

In case a user wants to buy more than 1 report, we can pitch them the plans for guided homebuying experience.

System design selection: System design 2

Reasoning

People pay minimum of 10k to avail the services → High ticket price

Decision making → Takes time, people have to make a conscious decision after factoring in substitute options and value for money.

Effort to convert people to pay → High

Implementation

Share an explainer PDF post enquiry call that covers:

1. Who Propsoch is for
2. How it is different from the conventional methods of finding a house
3. What Propsoch offers - report and guided experience
4. What does the user’s journey look like once they pay
5. Customer reviews / testimonials
6. Snapshots from sample report (4 aspects users care about the most)
7. List of parameters (segregated as per plan)
8. Link to pay

—— Ideally, we should have these in the website too.

To begin with,

→ Direct website visitors and ad audience to Whatsapp [till website isn’t revamped]

→ From Whatsapp to Enquiry Call

→ Enquiry Call to Payment

Other touch points to share free sample report:

1. Website
2. Ads
3. Whatsapp (post enquiry call)

—— Inside sample report, insert the following at the end:

1. What does the user’s journey look like once they pay
2. Customer reviews / testimonials
3. CTA will change based on source traffic
4. 1. Link to book enquiry call if interested to know more (if user has come from website or ads)
   2. Link to pay (if user has received sample report post enquiry call)