Nearly 40% of subscribers of any service type cancel. More than a third cancel in less than three months, and over half cancel within six, according to a study by McKinsey and Co. So, how can you get subscribers to stick around? Instead of allowing subscribers to churn, you can retain them by enabling them to pause their subscription.
The health of your SaaS business is entirely in the data, and you can get a more representative picture of your progress by reducing the number of metrics you observe. The trick is identifying a smaller set of metrics that tell the story of your business and making them your key performance indicators, or KPIs.
Patrick profitwell growth@
At the heart of all marketing work, if it’s going to be successful, must be strategy. That’s why most marketing initiatives today fail. Before we get into talking about marketing strategy and how it can be used to deliver better CX, let’s examine what we mean by marketing strategy.
I’m going to share how you can create a just-in-time onboarding email sequence that converts. Signals tell us when we should send a specific email or enroll a user into a new campaign. In my Just-In-Time sequence there are four signals: Signup, Quick Win, Product-Qualified Lead, Customer. These signals tells us where the user is in their journey.
Calculating monthly recurring revenue (MRR) is simple enough for most B2C subscription businesses; calculating MRR requires taking that typical monthly payment and multiplying it by active subscribers. Many B2B SaaS companies used to take a similar approach to calculating MRR. But SaaS pricing has become much more complex in recent years.
2019 will soon be coming to a close. How, as growth marketers, can we prepare ourselves to hit the ground running in 2020? I asked marketers, founders, and CEO’s a question: What is one book that changed the way you looked at growth and brought tangible results for your company this year? Here are their top 10 recommendations.
Hale growthhackers marketing@
Progress in SaaS is never as linear as it looks years down the road. After about $2m-$3m in ARR, your organic leads should always be growing, You may have trouble closing them without a great sales team. You may struggle to service them. But if you are doing things right on the product side, the organic leads should always grow after that.
This post is such an important one, I took a moment update it for 2019. Just when it sarts to get good, again and again, I see the same thing: the number of leads each month stalls out. Many SaaS companies hit an “organic lead plateau” at several phases. So what to do? Point number one is plan for it. Expect this to happen.
An unexpected charge shows up on your credit card. An automatic renewal charge for a subscription. Even worse, you go to cancel your subscription, only to discover it’s nearly impossible. A bulletproof subscription renewal and revenue recovery process is something every SaaS founder should strive for.
Patrick profitwell business@
“Our product works. It saves our customers a lot of money. We can prove it. Heck, we even do a pilot for them when they ask. Afterwards, they see the numbers, the data confirms our claims. But they still don’t buy! What are we doing wrong?” This is the main sales challenge of a startup I talked to in a sales consulting session. What’s the issue? Doubt!
This article will show you how to create a successful high-ticket sales funnel, including: How to get qualified prospects to book sales calls, how to create call booking pages that prime your prospects to buy, how to create a sales script that converts prospects to customers, and more.
Bryan growthtools marketing@
Growing your business requires constant optimization. And not the haphazard “see what sticks”-type, but a robust plan executed with purpose. At the Product-Led Institute, we developed the “Triple-A” sprint, which focuses on rapidly identifying problems, building solutions, and measuring impact.
Wes chartmogul growth@
My answer is an unequivocal yes. There are two reasons why product teams need to sell: Persuading people is an essential part of all mission-critical roles. A product teams involvement can significantly accelerate sales. Finding early adoption and ongoing product loyalty can be accelerated by getting product people involved in sales.
It took two failed endeavors and a host of research to reach the successful product they have today. Marie shared the tactical differences in doing customer research that separate success from failure: what questions to ask, what methods get the most value, and what to do when an MVP doesn’t resonate with customers.
Olivia userinterviews product@
Of all of the employees at your SaaS business, it’s your support team that understands your customers’ needs the most. They’re the ones on the frontlines with your customers every day, addressing questions and fixing real issues in real-time. This kind of knowledge is pure gold for marketing and sales departments.