How to increase SAAS Customer Retention Rate and referral signups?
Software as a service (SAAS) is widely increasing. It is a game of numbers. Many new customers are taking interest in it. We cannot say that every new idea will grow rapidly and retention will be possible with the resources.
Here are few ideas to increase the SAAS Customer Retention Rate.
1) Call prospects when there is a new sign up:
If there are new sign-ups then we should call them for free trails just within 5 minutes. But some of them think that it is not a good idea to call everyone on phone, it is just waste of time. You will face difficulties when there will be hundreds of trails per day.
But the main aim behind this idea is that it will create an opportunity for developing the customer and more beneficial for the early stage companies. Also, by this, you can save lots of money and by this, you can have more sign-ups. Another disadvantage can be, if you add phone number column in it then your sign up rate can be decreased slightly. Many people do not feel safe to share it. But you can add it as an option, if you want to add else you can leave it empty.
So they will decide to want to hear your voice via phone or not. But the idea is good if any person gets call immediately after starting service it will make him happy. Also, by speaking you can tell them how easy is to move on from your product.
2) Give weekly Internet seminars:
If you want to win the heart of your customers then this can be done by saving their countless hours and by helping them to generate more revenue. It’s very difficult to see the improvements in your customers. With the help of the Internet Seminars, you can tell people how your product will see after it is ready. Also, people can understand your idea and this will motivate you.
When your customer sees the product with their eyes then they can understand that how easy your product gives them a job. Then they get that they are going through the wrong process and they will invest their time in your product. Taking an Internet seminar is not an easy task you will face many problems. For seminars, you will need proper soundproof studio than one person to see the chatting and another person to give the product demo. Another problem can be suddenly Wi-Fi stops or problem in any many others. But you have to be calm in front of the camera, we know it’s difficult to be calm but you have to do.
Also, you can arrange automated demo which will show how to do the job through your app. Most important is live feedback from the product expert. So it is not necessary your seminar should be automated you can pre-record it and concentrate on the queries. Arrange seminars according to time zone.
3) Win Back after trail pack is expired:
Users may like your product if they did not move on then it will be a problem. Because many times people want free trails. If you have developed your product totally then only a few i.e. initial prospects will take interest in it.
Many SAAS provider sends the win back emails to the customers. If any customer’s trail pack is over after a year then again provider sends email for a win back and this time it may be for 30 days. So within this time customer sees the changes took place and if a customer loves it then he may go for the paid one.
This is an example of winning back trail for its customer. It is one of the best ideas for being in touch with the customers and trying to make new customers. You can manually put the list to accounts every month and then start. If this idea works for you then you can add the automated service of sending emails. This will make your product more successful.
4) Weekly emails which will give the highlights of work happened in SAAS:
Many of the Saas product work as a day in and day out totally upon customers. There are few services which allow you to link your data to other services. Also, you can test your services for every minute to make sure that each service is operating properly. But all this will work in your background.
There might be report card which lists everything happening in detail. What you did in this month will be clearly demonstrated and all this will be done with the help of an app. So you can create a report card and through this report card, you can send all the highlights and issues which were important. So this will help you in getting connected with the customers. So this is one of the better tacts and you will have many benefits from it.
5) Retarget the Saas Trails:
If you want to get back your old customers then retargeting is one of the best ideas. Actually, retargeting is one of the best tacts to keep your customers engage with your product. If you do the retargeting then it will help you to gain more customers and you will have many new sign-ups. Also, you can retarget the unidentified peoples and this is one of the most beneficial things. Saas providers often do the retargeting and by retargeting they bring the old customers to the sign-up. And they will get to know about the new updates.
You can also do the retargeting with the myriad ways so that you will get better retention of users. Also, you can do the targeting to the people and also send the ad of the free web seminar. Facebook has one of the easiest ways to sign up for the web seminar and everything comes pre-filled in it. Just make two touches and you are done to sign up and you can do this on the mobile device too. Also, you can highlight the success stories of the people and also display what type of value they expect from your product.
Once the customer activates and there is paying customer then you can put the further step. After retargeting now you can target the customer which are dangerous for churning based on the data. Also, you can export monthly segment of users. A target uses the ads which show them that they are missing some features or strategies from getting the more value of the product.
6) Offer Data onboard package:
On particular Saas provider, many times customer has to move the data to the app. If you are starting then this can be your block in getting way to the customers. If you offer the done for the service to your new customers then it may be very helpful to set the smooth path. Many times there are excel files, SQL or CSV files and there is a large amount of collection of this file. So for this, you have to import data with different softwares and you will face many problems in it.
Through this data, it is difficult to import the entire automated flow to the customers and they will carry this on themselves. If you are trying to import the simple CSV file then also you will face many problems. So this one is a better idea but you will face many problems on every step.
So this was few ideas to increase your Saas customer retention. If you have a small improvement in growth rate then you will get the big impact on your bottom line. When you get successful in generating the revenue then you can invest it in your product and make more development. This will help you in accelerating in the growth of your product. Referral marketing has much power to grow your SaaS Company. If you include third party software then there will be more and more development. Through these third-party tools, you will be able to track easily. By applying this idea you will get more development and there can be more sign-ups. Also, Web seminar is one of the best ideas to get connected with the customers and this will keep in touch with the people. Targeting old people is also one of the best ideas to get your customers back for sign-ups and this will also help you gain more new customers. If old customers are back then they can feel the change that you have made in your recent updates. If you arrange the SaaS programs then also it will be beneficial for your product. By this, you can give your ads and also you can give detail information about the product. This will help you to build the connection with the people. Also, you must keep on trying other ideas and this is important for the starting ones.