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The global technology market includes telecom services, tech outsourcing and hardware maintenance, tech consulting and systems integration services, software, communications equipment, and computer equipment.
The global cloud computing market size is expected to grow from USD 371.4 billion in 2020 to USD 832.1 billion by 2025
SaaS solutions have the highest security features with 95% security failures due to human error
The median Customer Acquisition Cost (CAC) for upsells is just $0.28 per $1, less than a quarter of the $1.18 spent to acquire $1 of revenue from a new customer
The very best SAAS business has a negative churn rate and will have a Dollar Retention Rate of greater than 100%
54% treat upselling and add-on sales as high priority
Japanese company Hitachi accounted for three percent of the world’s market for diagnostic imaging in 2017.
Smaller SAAS companies reported more frequent use of third-party providers as their primary application delivery method, while the largest companies were more likely to use self-managed servers
In 2017, the global adoption rate for biotech soybean amounted to 77 percent.
If you are charging $500 per month, you can afford to spend up to 12x that amount (i.e. $6,000) on acquiring a new customer
Median annual gross dollar churn was 8%, 7%, 6% and 8% in 2016, 2015, 2014 and 2013
The median SaaS business loses about 10% of its revenue to churn each year and that works out to about 0.83% revenue churn a month
It’s 9x cheaper to retain existing customers than acquire new customers: costing $0.13 to acquire any additional dollar of revenue
How to Reduce Churn
The median cost for a SaaS company to acquire a dollar of new customer revenue is $1.18
At Twitter, 10 percent of tech roles are staffed by women
The very best SaaS businesses have a negative revenue churn rate and will have a Revenue Retention Rate of greater than 100%
Analysed by contract value, field sales are primarily evident for companies with median deals over $25K. Inside sales strategies are most popular for companies with $1K-$25K median deal sizes
It’s 4x cheaper to upsell existing customers than acquire new customers: costing just $0.28 to acquire an additional dollar of revenue
Sony’s PlayStation brand had accumulated approximately 38.57 million fans on the social network