Customer Acquisition and Churn Reduction Consulting
In my last post I shared some actual ways to reduce your SaaS Churn Rate, including attracting the right customer and managing expectations.
In this post, I’m going to go deeper, and share some awesome methods for improving customer retention by leveraging the power of the SaaS business model, specifically the ability of the provider to monitor for and drive Customer Engagement.
Customer churn can have a devastating effect across your entire SaaS company. From the negative impact on your company valuation because your SaaS churn rate is too high, to the drag on growth you feel when you have to replace lost customers or revenue before you can make forward progress… churn is bad news.
Over the next several posts I’ll outline five methods for churn reduction and customer retention that fully embrace the power of the SaaS business model…. let’s get started.
I mentioned “Expansion Revenue” and “Negative Churn” in my post SaaS Churn Rate: What’s Acceptable? and I wanted to expand on those concepts a bit.
I honestly believe that fully grasping the power of these two concepts could change your SaaS business forever.
No pressure… but you might want to read this post carefully.
For many SaaS and Cloud providers, email will be the main fuel for your Engagement Engine that you use to drive potential customers through your Free Trial to conversion or to drive new customers to become deeply invested in your service.
SaaS customer onboarding starts with the welcome email, so when I saw this great post over on the Vero blog called 5 Conversion Optimization Experts Weigh In On An Email Remarketing Campaign I was excited to see people talking about this important – and often overlooked – element.
In the post, 5 copywriters – arguably the best in the business – analyze and offer suggestions to the welcome email of HipChat.
I agree with just about everything the panel of experts said, but I think they missed a couple of points.
Is 5% a good monthly SaaS Churn Rate? Read on to learn the answer…
As a consultant to SaaS and Cloud providers that are looking to grow, I get asked what an acceptable SaaS churn rate is all the time.
As I stated in my Sandhill.com article SaaS Providers: Growth Requires Proactive Customer Retention the answer is you want a churn rate that is “as low as possible.”
