Today’s SaaS roundup includes simple tips for improving your SaaS sales pitch, reducing SaaS customer churn, increasing retention, better understanding and calculating your SaaS metrics and more! Let’s dive in…
As one of our favorite sources of quality SaaS content, the writers of Intercom‘s famed Inside Intercom blog were bound to make it into a roundup sooner or later. We’ve enjoyed their articles immensely in the past, but couldn’t resist the urge to share last week’s entry on carefully tuning up your SaaS sales pitch. Intercom’s Relationship Manager Sebastian McKenna Long writes about the importance of context, simplicity, and clarity when pitching to a potential client, and compares a good sales pitch to a catchy song.
The importance of a great sales pitch is hard to overstate. I like to think of the best pitches as working like a great pop song – it has to be catchy and infectious, immediately resonating with your audience. And just like a great performer, your delivery has to be sharp and compelling every time.– Sebastian McKenna Long
Next up, former investment banker Can Ozuysal shares a uniquely fresh perspective on calculating your Monthly Recurring Revenue (MRR) and cautions that you may not be interpreting your SaaS metrics correctly. Ozuysal digs into the 5 most common mistakes SaaS businesses make when calculating their MRR, and urges readers to take a closer look at the way they integrate this metric into their annual and quarterly projections.
It is critical to learn from these mistakes because if you get your MRR wrong you will be misled about the momentum of your business and when you realize that you were misled, it could be too late.– Can Ozuysal
We recently posted a pair of articles discussing the importance of SaaS renewal and thought Hackernoon‘s recent piece on the subject was a terrific follow-up for those who enjoyed those. Hackernoon and PickSaaS writer Nilesh Surana shares some fantastic tips for retaining customers and maximizing your SaaS renewal process in 8 simple steps.
You may believe that if the customer does not have any problem, the customer will renew the contract.– Nilesh Surana
This is a reactive approach and is NOT true.
In this age and especially in the SaaS space, you need to have a proactive approach. Otherwise, customers will churn and you will neither be able to find the reason nor do anything about it.
MarketGoo‘s David Roch published an article this week on reducing churn with a single email. What is the email? A carefully crafted automated message that is sent to every direct channel paying customer (subscriber) that cancels a subscription. Roch explains how reaching out to dissatisfied customers promptly and politely will urge the customer to share uniquely specific feedback on your product that you can’t get find anywhere else. He also shares some tips on how to use that feedback to improve your product, increase retention and make more money.
Over the months we have taken so many useful opinions that have turned into hypothesis and tests, some have worked and some haven’t but in the long term, it is helping us to assure the path, pivot or recalibrate the product vision when it has been needed.– David Roch
SaaStr‘s Jason Lemkin reveals 4 critical questions that are rarely asked by founders looking to raise venture capital, and urges readers to take the plunge and get the tough questions out of the way at the beginning. Jason explains that the real question in venture isn’t what happens when things go great, but what will happen during tougher times. These 4 questions will help you prepare for the worst or sidestep it all together.
Ask these questions now — so you don’t have to ask them later when it’s awkward. Ask them now so you’ll know now, when the stress isn’t there and the shine is new. Ask so you know.– Jason Lemkin
Zokri‘s Matt Humphreys beautifully explains the value of People Analytics. For those unfamiliar with People Analytics, this is the science of turning people and company data into metrics that help managers and companies make better decisions on how to best to utilize their human capital, whilst helping employees succeed and develop. He shares the top 11 questions People Analytics can help answer and builds a tremendous amount of context around the power of this data and how to implement it.
Nobody likes to think of people as numbers, so rarely do we bring the two together. However, when people and numbers are combined the results enrich us with knowledge, narratives and deep insights into the workplace, which is especially important in the fast growth SaaS workplace.– Matt Humphreys
That’s it for this week’s SaaS roundup! We hope you found something helpful in these articles, and invite you back to join us next Monday!