You’re Doing Annual Pre-Pay Renewals Wrong

annual renewals 300x256 Youre Doing Annual Pre Pay Renewals WrongGetting customers to pay up-front for a year is great… the challenge comes 12 months later at renewal time. There are four ways to do renewals, but only one right way.

This came up on a recent Clarity call with a SaaS founder, and since annual pre-payments are often the go-to funding source for many early-stage B2B SaaS companies or those bootstrapped companies - regardless of stage – that have chosen to forego any serious external funding, I thought it was important to discuss publicly.

While that up-front money from annual pre-pays is great, when it comes time to renew those customers, well, that’s where things get tricky.

I’m going to help you make that less tricky.

First, let me take a quick step back and cover a couple of basic ideas.

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10 Growth Hacking Lessons from Dodgeball

growth hacking dodgeball 10 Growth Hacking Lessons from DodgeballI hit Nick Mehta, CEO of Gainsight, right in the gut.

And then I took a hard shot to the chest by Gainsight’s New Business director.

Working in a startup is rough, lemme tell ya.

As Nick and I stood on the sidelines during this company outing – battered, exhausted and laughing – watching the remaining players trying mercilessly to eliminate each other (and have fun at the same time), Nick turned to me and said:

“You should write a blog post on what Dodgeball can teach us about Growth Hacking.”

So, looking for any excuse to rest – this wasn’t just dodgeball but TRAMPOLINE dodgeball – I came up with a list of 10 lessons (5 Do’s and 5 Don’ts) you can, in fact, take from Dodgeball and apply to Growth Hacking.

Okay, here we go.

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Save your Free Trial from the Bots

free-trial-bot

At the Black Hat conference in Las Vegas, a security research duo showed how they built a cryptocurrency-mining botnet by leveraging cloud platform services - like Amazon Web Services, Heroku, or Google App Engine - using only Free Trials and … [Continue reading]

SaaS Free Trial Extension Requests are a Bad Sign

free-trial-expired-extension

I got this question about SaaS Free Trial Extension requests and I thought I'd answer it here, for all to see."Lincoln, that was a great guest post by Steli Efti from Close.io on sales mistakes that lead to churn. I was reading Steli's blog and … [Continue reading]

The Best SaaS Free Trial Length

best-free-trial-length

Here's a secret no one talks about: SaaS Free Trial Length is a Marketing Gimmick.There isn’t a best SaaS Free Trial length that works for every SaaS company, in every category, for every market. I know, that contradicts my reputation for saying … [Continue reading]

Ideal Customer Profile Framework

ideal-customer-profile

I can't over-emphasize how important it is to have a clear definition of your Ideal Customer.Your Ideal Customer Profile dictates (or should dictate) everything from the features and functionality of the SaaS product you build, to the words you … [Continue reading]

4 Sales Mistakes That Lead To High SaaS Churn

steli-efti-close-io

I've said many times that the seeds of churn are planted early. Whether it's in your marketing - both the things you say but also the types of customers you target with your messaging and outreach - to the things you say and do during the sales … [Continue reading]

SaaS Free Trial: Requiring a Credit Card is Shortsighted

barbed-wire

I got this email asking whether to require a Credit Card to start a SaaS Free Trial or not and what the best Free Trial length is.So instead of just answering him directly, I decide to use it as the basis for this article.Here's the … [Continue reading]

5 Steps to Unstick Your Stuck SaaS Onboarding Flow

unstick-your-onboarding-flow

The other day I got an email from a SaaS CEO friend of mine telling me his product team is finally ready to tackle a major problem with their onboarding flow during their Free Trial.It turns out they have one screen in the flow that is causing … [Continue reading]

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