The Marketing Budgets Report by Econsultancy revealed a bias by companies toward acquisition marketing. This bias comes at the expense of customer retention. What does this statement mean? Many organizations actively place a lot of emphasis and spend more money on customer acquisition programs. Unfortunately, these organizations are not paying equal attention to customer retention […]
Churn is a RealityChurn is a reality that all SaaS companies must accept. Every customer you acquire will eventually churn. When and how depends on how your organization handles retention efforts. Churn is a silent killer of the modern-day SaaS business.What is Customer RetentionUser retention is the rate at which your SaaS company can keep […]
Customer feedback is essential. Organizations that listen to their customers grow faster. Customer feedback is a powerful guide that provides you with critical insights. You can use the feedback to improve your products, revise your service delivery strategy, and optimize customer satisfaction. What is Customer Feedback? Customer feedback is a summary of how your products […]
The customer is the core of any business. With strong interpersonal skills, you can maintain excellent communication with your clients. Customer communication for SaaS retention is the key to building lasting relationships and combating churn. A happy customer is an advocate for your SaaS business. Happy customers are willing to promote and recommend your business […]
Journey maps are a standard user experience tool. Journey maps come in different shapes, sizes, and formats. Depending on the context, we can use these tools in a variety of ways.In this article, we shall examine experience journey mapping from different planes. We shall discuss the definition, importance, and possible examples of the subject matter.What […]
According to a study by TechValidate, About 30% of companies that use gamification were able to improve registration conversion rates by over 50%.So, how can we use gamification as a strategy to retain more customers?Why Should You Consider Gamification?Gamification is the application of gaming concepts in non-gaming contexts. In gamification, we borrow certain mechanics from […]
Defining your target market is one of the most crucial tasks in marketing.This step is the foundation of an effective marketing strategy. From the way you develop your product names to your marketing channels, your target consumer should always be in mind.Target marketing is all about identifying and understanding your niche so that you can […]
It takes about 11 months on average for a SaaS company to make back the cost of customer acquisition and retention.Therefore, customer loyalty is crucial to the success of the business. Software and SaaS businesses need their customers to find satisfaction in both their software and services.If your company can provide exceptional customer service in […]
Like most SaaS managers, you are committed to running and growing your business. To achieve this goal, you need to ensure that you are meeting the needs of the consumer and mitigating churn.Customer acquisition is expensive. Some companies spend anywhere between 5-25 times more to acquire customers than to maintain the existing ones. Reducing churn […]
For a SaaS company to survive in this industry, it needs to rely on steady customer acquisition and healthy customer retention strategies.By now, you must have realized that the cost of acquiring a new customer is higher than that of retaining an existing customer. Therefore, your most cost-effective option is holding onto your existing customers.Retention […]
