This week’s roundup includes great tips for improving SaaS sales culture, customer success, boosting MRR and more! Let’s get started…
In the SaaS world, it’s easy for customers to find new products, try them out, sign up, and enjoy creative solutions to their everyday problems. But the problem with SaaS is that it’s just as quick and easy for customers to leave, transfer to your competitors, or stop using SaaS products altogether. As most of you know, this is called customer churn and it’s the ultimate touch of death for any subscription-based company. So how can we reduce churn and keep our customers interested in us? It starts with customer success, and it’s not just a department – it’s a mindset. A daily effort. A team sport. It’s a mission. Medium writer Kevin Jenkins dives into the importance of customer success and explains how to view, approach and implement customer success to achieve longterm success with your SaaS company.
Best practices are great, but each company should have its own unique formula for customer success. From the small wins, like helping your customer onboard their team, to the bigger ones, like launching a go-to-market campaign with a strategic partner, don’t be afraid to celebrate with your customer. After all, their success is your success.– Kevin Jenkins
Redpoint’s Tomasz Tunguz launched his newly-redesigned blog last week, choosing this fantastic piece on end-to-end SaaS products to send the blog on its maiden voyage. Tunguz shares 5 brillient reasons why selling complete SaaS products is often better when approaching early and developing markets, and explains how doing this can set your company up for longterm success.
Not every market will work this way. But on the whole, selling end-to-end products in early market enables startups to influence the market, capture more of the value, and ensure greater success with their initial customers as they create the category.– Tomasz Tunguz
ChartMogul‘s Sara Archer discusses the power of a strong sales culture, how ChartMogul built their sales culture, and how to be intentional about defining yours. Salespeople operate at their best when they become a trusted advisor with a clear and shared vision, and a successful sales culture makes it easy for individuals to articulate value at every possible customer touchpoint. If you’re looking to build a more intentional sales culture for your company, this article is a great place to start.
Sales success is built on the back of consistent, well-executed process month over month. But underneath that execution layer, your team should have a unified understanding of how and why you sell — and that can be a bit different for every organization.– Sara Archer
We were happy to see the return of one of our favorite bloggers last week. Customer success consultant (and self-proclaimed lover of SaaS and coffee) Jeff Beaumont is known around the internet as someone who doesn’t speak unless he has something important to say. His blog has operated on this premise since its very beginning, and with this in mind – we’re always excited to see a new post pop up from him. Last week’s article discusses Dunning Management, an often overlooked aspect of customer success. Beaumont breaks down what exactly Dunning Management is, why you should care, how to implement it and also digs into Dunning’s ROI. If you’re like most people, this relatively unexplored aspect of customer success is probably new to you. If this is the case, we strongly urge you to give this a quick read.
Dunning management is all about collecting what’s truly owed to you. It’s less obnoxious than reminding your friend that he still owes you $10.– Jeff Beaumont
Losing $10 to a friend — not so big of a deal. However, ten friends that each never repaid their $10 loan, now that’s becoming a problem. And that’s where dunning management comes into play.
The title is a bit of a giveaway on this one. Guy Sheetrit of OverTheTopSeo brings 10 simple MRR-boosting tricks to The Next Web blog, and explains how to properly implement them. A SaaS business lives or dies by its Monthly Recurring Revenue, and boosting MRR should be a top priory for any SaaS. Sheetrit shows you how.
Understanding MRR and purposely applying strategies to keep it increasing is the best way for SaaS companies to continue improving their revenue stream. As such, keeping a close eye on your MRR becomes an essential aspect of doing business after adopting the Software-as-a-Service model.– Guy Sheetrit
Thanks so much for joining us for another SaaS roundup. We hope to see you here again next Monday!