Article | September 12, 2018

Essential SaaS Strategies: Boosting Customer Retention Through Payments

Source: Paragon Payment Solutions
Customer Retention

With the focus on hosting cloud-based services that customers subscribe to – instead of software sold in one large payment – customer retention is vital to success. it’s crucial to reach a 3:1 ratio of Customer Lifetime Value (CLV) versus your Cost to Acquire a Customer (CAC) to grow as a business. You want customers to keep subscribing long past the point where you recoup the original investment.

Few customer retention strategies have such a strong effect as integrated payments. Here’s why:

How Integrated Payments Build Greater Brand Loyalty

  1. Increasing the Practical Value of Your Software

Put simply, if customers don’t see tangible benefits, they’re not likely to stay subscribed. By including integrated payments, you instantly offer clients a more well-rounded software application that lets them handle multiple tasks from the same platform. Company decision-makers value results, especially when they’re related to streamlined processes and productivity.