No one in the SaaS world is stranger to churn. Clients cancel their contracts and downgrade to less expensive plans, driving up customer and revenue churn rates respectively. These losses eat away at the time and money spent acquiring that revenue in the first place, forcing SaaS providers to recover from the setback before reaching for their growth goals. So many of us find ourselves in the Red Queen’s race, running as fast as we can just to stay where we are.
Marketing is everything you do to acquire customers and maintain a relationship with them, but the ultimate goal of your marketing efforts — whatever those may be — is to match a your company's software to the people who need and want it.
epay is a leading processor of financial transactions and prepaid content. If you’ve ever used a gift card or conducted a pin-based transaction, epay was probably involved. They have helped to facilitate over 10 billion transactions since 2003, and their software modules connect customers around the world with hundreds of thousands of products and services.
The customer is a complex creature, each with their own unique needs and goals. As customer success professionals, now more than ever, we have many tools to understand the state of a user at any single point in time. However, staying on top of all the details that point to customer success is hard. In the ever-expanding customer ecosystem, what are the most critical metrics to track and understand in order to keep customers happy and successful?
Ensuring customer onboarding readiness (see principle 2) includes understanding who your implementation owner, key stakeholders, and relationship influencers are. As previously discussed in that principle, Because of limitations on the pre-sales side, you may have to do additional work to gather information related to a client’s current environment and capabilities.
SaaS as a business thrives on collecting data – in which Marketing, Sales, and Customer Success are each involved – on customers. Whether it’s usage metrics or general client information, data makes our world go round and enables us to better serve customers.
Being on the CSM frontline allows us to directly influence the success of our clients. I love that; as our clients are successful, we’re successful. Each day we learn from the trenches what it takes to make clients happy and successful.
The traditional buyer’s journey, or marketing/sales funnel, is just the beginning of the process for a B2B company. Smart companies, especially in SaaS, are realizing that the funnel now extends beyond an initial purchase point with new opportunities to capitalize at each stage of what’s known as the customer journey.
Customer Acquisition Costs (CAC) and Life Time Value (LTV) are two key SaaS metrics you’ll be focused on. Minimizing Churn, whether from trial to paid sign-up, or from sign-up to fully engaged paid-up user, is therefore critical. Here are 16 triggers you can watch out for that will help you reduce churn.
Delivering a positive customer support experience is a must for any business looking to keep customers for the long term. For POS ISVs who maintain relationships with multiple hardware vendors, this can get tricky because it requires tight coordination with the partners.
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