This week’s roundup includes great tips for improving SaaS conversion, customer renewal, onboarding and more! Let’s get started…
Chagency‘s Ch Daniel talks about SaaS conversion, increasing conversion rates and increasing your company’s revenue. As mentioned in the article, there are many different types of SaaS conversion. So what kind of conversion are we talking about here? Daniel outlines the four primary types of SaaS conversion and explains the differences between them, why each one matters, and shares some great tips for ensuring that your users convert properly. We’re never disappointed with Ch Daniel‘s writing. Powerful, educational and actionable. What more could you want?
Industries are varying too wildly to have a standard in SaaS, remember that. Whoever is giving you a benchmark figure for churn or other indicators that are varying by industry is likely to be selling you snake oil.– Ch Daniel
The folks behind customer success giant Salesmachine shared five onboarding best practices for B2B SaaS businesses on their blog last week. The unnamed writer behind these great tips discusses powerful onboarding tactics and stresses the importance of defining your objectives, properly choosing your channels, setting up team processes for dedicated onboarding and more. Short, sweet and helpful.
However great your product may be, if you fail your users’ onboarding, a great majority will just stop using it and churn, throwing your marketing and sales efforts down the toilet.– Salesmachine
The great people at ChartMogul and Churn Buster came together last week to design The Ultimate Failed Payments Cheat Sheet – a free downloadable PDF outlining everything you should know about passive churn and its impact. The cheat sheet also includes helpful best practices to assist you in offsetting the negative effects of loss while helping you spot onboarding errors. This unique cheat sheet is a great addition to any SaaS company’s toolbox.
Many SaaS and subscription businesses grapple with how to develop the right mechanisms in order retain customers and revenue. Churn has lasting impacts beyond annual cash flow – it can affect customer relationships, the performance of your customer success team, and conversations with employees and investors.– Sara Archer
Forbes writer Mike Whitmire shines a helpful spotlight on emerging SaaS trends and offers some great insight into what they may mean for new and old SaaS companies alike. Whitmire believes that understanding the way your customers think is the best way to provide high-quality service, and we couldn’t agree more! Understanding emerging SaaS trends and the reasons behind them is a great way to gain insight into what modern SaaS customers want, and what they’ve come to expect. This article is a great place to start.
SaaS providers are getting smart in arming their teams with people that think like their customers. Having those evangelists who’ve been in the trenches as part of the team is a continuous investment, especially as the working knowledge of software use cases and paint points evolve. But I believe it will pay off.– Mike Whitmire
In response to a question from Foundersuite CEO Nathan Beckord, The ProfitWell Report’s Neel Desai digs into data collected from 8,000 subscription-based companies, revealing their tactics for fighting SaaS customer churn. The great minds behind The ProfitWell Report have proven themselves to be an invaluable resource time and time again – and last week’s presentation only further proves this value. Great people doing great things!
Ultimately, your gross churn is an incredibly tricky problem to attack that no amount of tactics is going to solve. Yet, there are very mechanical pieces of churn and classic positioning strategies with value metrics and annuals that can help you stack the deck and compound the churn reduction value that your product team is already implementing.– Neel Desai
Our good friends at Openview were kind enough to invite our very own Anna Talerico back to their blog last week to share some thoughts on SaaS renewal. With customer renewal being the heartbeat of any subscription-based company, it should go without saying that there could be nothing more important to a SaaS company than its customer renewal process. Anna shares some great tips for troubleshooting and improving the renewal process, and urges readers to make customer renewal a top priority across all departments.
If your renewal process is executed without passion, care or attention to detail, it won’t be effective. The worst thing that can happen is that your staff goes through the motions of renewal without thinking.– Anna Talerico
Thanks so much for joining us for another SaaS roundup. We hope to see you here again next Monday!