5 Invite Hacks that’ll Drive Growth

invite a friend or 7 5 Invite Hacks thatll Drive GrowthWhen was the last time you invited your friends or co-workers into an app after you just signed-up for the free trial?

When was the last time you imported your address book right after you opened an app for the first time?

Right.

So why do you expect your users and customers to behave differently?

Unless you have specific intel indicating they will share your app with everyone immediately after first interacting with you (like, for instance, my Mom is your target audience), then you should probably assume they won’t.

And if you sell to a B2B Audience, you should double-down on that assumption.

Here’s why and how to overcome that…
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The Myth of Unavoidable Churn

Screen Shot 2014 12 09 at 10.05.51 PM The Myth of Unavoidable ChurnWhen it comes to customer churn, there are two kinds: avoidable and unavoidable.

But I guarantee that the amount you label as “unavoidable” is actually much smaller than you think.

I know, but…

“Most of our churn is out of our control, so it’s unavoidable”

“We sell to SMB and in that market churn is inevitable.”

Accepting that churn is inevitable since x% of companies fail every year is like saying why workout, you’re just gonna die anyway.

But the excuses continue…

“We have a low price, so of course we have high churn.”

“We sell to [a certain market segment] so of course churn is high. That’s just how this works.”

“We sell to a very transient market, so of course churn is inevitable”

Unavoidable. Inevitable.

To paraphrase a monologue from this Seinfeld episode:

seinfeld low churn meme1 The Myth of Unavoidable Churn“No matter how desperate we are that someday a better customer will emerge, with each notice of cancellation, we know it’s not to be; that for the rest of this sad, wretched pathetic quarter, this is who we sell to, to the bitter end. Inevitably, irrevocably; low churn? No such thing.”

The catalyst for this post was what Gainsight CEO Nick Mehta said on a webinar the other day on Budgeting for Customer Success in 2015 (check out the archive here), so I thought I’d invite Nick to elaborate on this a bit since SO MANY SaaS – and other types of companies – make this costly assumption.

Take it away Nick….

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Desired Outcome drives Customer Success

Desired Outcome - try again

So... what does Success look like for your customer? That's the question that's at the base of my wildly popular "The Secret to Successful Customer Onboarding" article.But it's not actually a very good question. What does "success" look like for … [Continue reading]

The Secret to Successful Customer Onboarding

the-best-way-to-onboard-new-customers

Customer onboarding has come up a lot lately, which is great since having a poor onboarding experience for your customers can pretty much kill your growth... if not your business.The first in-app experience your customer has with your product … [Continue reading]

7 Sanity Checks for Sending Cold Email

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Email Prospecting, the once-secret method (still) used (to great effect) by the hottest companies to get the attention of the biggest enterprises out there - even if all they talk about publicly is inbound marketing, adwords, and social - is no … [Continue reading]

The Correct Way to Handle Annual Pre-Pay Renewals

annual-renewals

Getting 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 … [Continue reading]

10 Growth Hacking Lessons from Dodgeball

growth-hacking-dodgeball

I 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 … [Continue reading]

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]