Category Archives for "Saas"

Apr 13

Saas Companies: Here’s how to increase your customer retention

By STEPHEN LUC | Facebook Ads , Saas

If you're running a Saas company, and you're having problems growing it - then I'd like to show you why not doing this one thing is hurting your consumption and retention.

As a Saas company, finding people who consume your service, have only great things to say is always encouraging.

But what about the rest?

Many Saas companies are focused on short term vs. long term acquisition.  This is because many don't have the financial backing and focus on the obvious, which is creating an awesome software application and short term client acquisition.

But more importantly, how do you get your users to consume and rave about your product so they tell all their friends?

Simple.

Before we get started, let's take a look at why there is a low consumption issue.  The reason why people might not be using your Saas product is because either they're just too busy or they don't know where to start.  The first issue is often an excuse because of the latter.

This is why more and more Saas companies are putting a lot of money into onboarding.

Onboarding helps with consumption, however a lot of people still prefer onboarding in the form of videos and the truth is a lot of companies aren't spending money into video training beyond the basics.

Consumption increases when your users know not only the basics to using your Saas product but how they are going to use it in their lives or their businesses.

When consumption increases, retention increases naturally. 

When retention increases, then you get die hard fans.  When die hard fans increase, you will begin to grow rapidly.  Then when you run Facebook Ads or drive super targeted traffic, that is when it makes sense.  Suddenly, you start paying to acquire a customer, which then tells 10 other customers. 

Then you realize that you are willing to increase your Cost Per Acquisition. 

So first off, if you don't have this already, start an online training center and do it right and you'll show your customers that you can to get them unstuck. 

Most Saas companies aren't doing this, so make sure you have this covered first.  If you are, then you are the small percent.  Congrats!

So let's do a quick recap.

Step 1 - Build an online course / training center and a proper funnel to get them consuming it.

Step 2 - Use Facebook Ads or Google Adwords to retarget existing customers into your online training center.

Step 3 - Let your online course do a rapport building with your prospect to help sell your Saas platform.

Of course you can do the same thing for customer acquisition, but at least for now this is a plan you can use to increase existing customer consumption and retention.