Month: June 2020

How to keep your SaaS Startup Revenue on Track

Posted on by Jay

After an unprecedented bull run for 11 years, SaaS businesses are faced with a lot of uncertainty as they overcome the business impact of the global pandemic.

There is no fixed path ahead. The truths of each Monday are re-calibrated by next Friday. In the current scenario, agility is critical. You must look at the right leading indicators to make decisions quickly or risk getting buried under loads of data.

While revenue metrics like LTV, CAC, NRR, and Quick Ratio are solid ways to diagnose long-term trends with respect to how the business is performing, it is important to look at the leading indicators of your revenue health, and act on them before they significantly impact growth and cash flows.

Let’s dig into some metrics you should consider.

Cash Burn

Cash burn, the rate at which companies use up their cash balance or reserves, can be impacted by both revenue (inflows) and expenditure (outflows). It’s always good to conservatively assume a higher burn rate unless your business is accelerating.

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Even though there are multiple variables impacting your revenue, the key lies in being flexible and reacting wisely from an expenditure standpoint. It’s good to plan for all outcomes, and not assume you’re going to have a V-shaped recovery.

Practice conservatism and have one to three months of a runaway. This is impactful if the current situation is going to linger longer.

If your vendors are affected, reach out. You could prepay some of these expenses and probably negotiate a discount as well. A 10 to 20% discount means cash sitting on your balance sheet, which eases your expense burdens in the future

Sales Outstanding

At Andolasoft, we are seeing the DSO ratio increasing across all our clients as end customers are slow to pay in recent months.

Sales outstanding is basically calculating the time it takes for you to collect an invoice. This metric is one of the few things you can control.

If you received payment in 20 days pre-crisis, depending on the business you’re collecting from, it might take 30 to 40 days moving forward.

This could have a huge impact on your working capital. When forecasting for the next three to six months, take a closer look at the day sales outstanding ratio.

Accounts Receivables Aging Report

Given that most customers might be freezing their budgets, you may want to close payments on your receivables sooner than later.

On the other side, we’re also seeing businesses with stronger cashflow positions offering more lenient payment terms up to net-60 and net-90 days to build a stronger rapport with their customers.

A real-time accounts receivable aging report lets you see how much money your customers have paid, any outstanding payments, and current debt.

Aging reports help identify customers who aren’t paying, which makes it easier for you to reach out and negotiate payment terms.

Lifetime Value

The next thing you need to focus on is your growth sustainability. Growth should never come at the cost of profitability.

If you acquire a customer with a higher customer acquisition cost (CAC) and low lifetime value (LTV), it means you’re scaling but not profitably.

One way to balance growth and profitability is by the rule of 40. If your growth rate plus EBITDA equals 40%, it means you’re growing profitably.

In this scenario, you should ensure you’re bringing in the right kind of customers and make sure that your retention is high.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

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The advantage of an LTV metric is that it gives you an idea of your customers’ quality. It also shows how well you’re able to retain them, which in turn, helps your team prioritize the accounts that are more likely to last longer than a free-trial period.

Total Credit Notes

Finally, you should be closely watching the leakage points in your revenue cycle.

The total credit notes report shows you the impact of credits and refunds you’ve offered to customers. While churn is bad news in itself, full refunds are even worse as they impact cash already in the bank.

I see some businesses restructuring their refund policies to only offer credits at this time, but it might have a significant hit on the brand. An option can be setting up internal policies, to look into the merits of each refund, then process it on a case-by-case basis.

On the other hand, acquisition teams are starting to use more coupons and discounts to close more deals.

While discounts are a great way to retain customers and continue running the sales machine, you need to watch its impact on revenue and ensure you are reporting on monthly recurring revenue (MRR) and leakages correctly.

This way, you wouldn’t be pushed to a scenario where sales continues to close seemingly big numbers, but with all the heavy discounts you don’t even see its impact downstream on total MRR.

Everything you knew about growing a startup or SaaS business has been upended. You’ll be faced with making tough decisions and your commitment will definitely be tested.

But with a clear understanding of your startup’s health and how your finances are changing on a daily basis, you can navigate these choppy waters.

Planning to launch your SaaS startup? Let’s Discuss!

5 Reasons The purpose that an Enterprise App will offer an Advantage to Many Entrepreneurs

Posted on by Sunny Chawla

These days many individuals utilize mobile apps in their smartphones to achieve their daily errands. From taxi booking to online food conveyance, on-request business apps have become an indispensable piece of life.

Along these lines, mobile applications diminish our time, exertion, and build profitability.

A few years back, an entrepreneur ought to have solid physical visibility to set up an association with the customers.

However, presently things have changed and it is conceivable for all intents and purposes to associate with the customers.

In this way, specialists and entrepreneurs can concentrate on their center business and associate with customers through a mobile application like in on-request business.

Beneath I have referenced the best five reasons on how an application for your endeavor can give you an edge over different ventures using Uber clone script.

Improved Scalability

Apps can give you more reach and help you to associate even with individuals who had no clue about what you did previously. This gives an opportunity to grow the business and give quality items and administration.

For all intents and purposes, you can tap more customers even past your place of reach.

With AI-based chatbots, CRM, steering of grumblings, auto-callback choices, and simplicity of installments, your undertaking gets an unequaled edge to continue and scale.

It’s just plain obvious, it is difficult to do all the above with a physical nearness since you are constrained to contact customers just around you and in the long run, it influences your business scalability.

Improved Trust Through Security and Safety

Maintaining a business through mobile apps includes dealing with a lot of client information. To defend this information and increase the client’s trust there is innovation like blockchain.

Individuals think that its simple to utilize computerized installments rather than money since it is agreeable for them and apps with innovation like blockchain improve their certainty.

Additionally, on account of any complaints, installment discounts should be possible flawlessly which further expands the unwavering quality of the business.

Exceptional User Experience

At present, with only a tap on your smartphone, you can arrange food by sitting at your home and the food will be conveyed at your doorstep in minutes.

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This is the sort of progress made by the apps at present. The same sorts of administration are being offered by taxi booking, jack of all trades booking, and some more.

The major in addition to point is that you don’t have to have physical contact with the specialist co-op.

Additionally, you can choose the administration dependent on appraisals and audits by past clients. Visit clients are given devotion focuses, cashback, and offers.

This sort of better client experience encourages you to cover more customers and hold more customers. Audits and appraisals can assist you in improving the administration.

Numerous on-request firms use Uber clones and Uber-like apps for their business administrations which is like the Uber application to give the best UI/UX structure for the clients.

Quality information and reports

You generally need to improve the business to be in accordance with the pattern. Better information about the business can be transformed into helpful data that can be utilized for business improvement.

Apps can be utilized to check client utilization by the socioeconomics, area, time, types, and so on.

This joined with the data from the information examination instruments can be utilized to deliver reports which are utilized to improve the income of the business. Furthermore, AI and AI can be utilized to quantify the conduct of clients.

Growing The Customer Base

With improved scalability, security, trust, and client experience, we can say that the client base will increment definitely.

At the point when your business is an on-request type aggregator model, you need to offer support to a huge base of clients.

Individuals who see surveys and appraisals and in the event that it is on the positive side, they request that others utilize the administration, in this manner the business improves due to verbal.

Also, the cost-adequacy that apps can give is unequaled with the standard physical style of activities. What’s more, this in this manner helps in getting an extending client base.

Final Thoughts

To accomplish the previously mentioned factors through physical communication with the customers takes years. Be that as it may, with an application, you can accomplish this without any problem.

On the off chance that you have any thought of beginning an on-request firm, at that point utilizing a Uber clone gives a much-expected edge to you over others.

Apps give you a shield in this serious field and an edge over others in the advanced world.

How eCommerce Strategy Can Help For Post-COVID Stage

Posted on by Jay

Almost $2.7 trillion from the global economy has been wiped out due to the ongoing COVID-19 pandemic lost output.
And there is no exception for eCommerce business as well.

Some experts are saying “the user behavior has dramatically changed within this short period.” And this is causing the fall of eCommerce sales.

For a long time, eCommerce has been on the holy grail of personalisation- it is considered as the cross- channel experience that adapts the needs of customers and achieves goals in real time.

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More than 80% of shoppers are likely to purchase from a company that offers a personalize experience.

So, many eCommerce brands are coming to grips with evolving consumer behavior trends, purchase patterns, and situational habits.

Making Of The New Normal

As per the recent research report by Nielsen, “there are 6 different major consumer behavior thresholds pertaining to the COVID-19-necessitated lockdown across countries”.

These are:

Nielsen Report

If we would go carefully through all behavioral sats we can see most of the developed and emerging economies have already gone through the first three levels.

And Consumer behavior patterns across the next three levels are now on the beginning stage to take shape as sustained global stay-at-home periods are extending regularly with new changing rules.

Levels 4, 5, and 6 are about the new demand signals across demographics and how to respond proactively for each opportunity.

Overall, to keep a firm pulse on your customers’ needs and expectations, you need to personalize the entire customer experiences by delivering the needful values at every stage of an individual session.

In a report by mcKinsey, it has discovered that the consumer sentiments were changing since post-Covid. Consumers have started to put less emphasis on brand loyalty and are opting to focus more on getting value for money.

With the eCommerce personalisation strategies effective in retaining customers, along with increasing sales efforts, the reluctance  to implement personalization can be costly.

To make an effective and successful implementation to combat these unprecedented times, re-imagine the growth on post COVID19 stage and most importantly deliver the customer delight – here I have mentioned the 8 actionable steps that can help you with:

1. Analyze The Customer Data To With New Actionable Insights:

As an e-commerce brand, you need to consider what worked for your business until February 2020. That is unlikely to shape your future customer and revenue growth engine.

So, make a deep-dive on gathering and unifying the right customer data.

Build and gather a 360-degree view of all individual customers based on their demographic, geolocation, behavioral, and device-related data points.

Slice-and-dice each data insights to gather new actionable insights on evolving the current consumer behavior trends.

In a study it was found that 76% of respondents said the real- time behavioral data  is a popular option to grow website personalisation. Real-time behavioral segmentation is generated through in-session behaviors. 

The sessions however refers to the specific user’s action performed in a page during a particular period of time, such as page load or button clicks.

(Source: Linnworks.com)

You may uncover the high engagement and conversion rates for the customer segments which were scored lowly on the ROI parameters or on the value of the purchase.

For Special Instance:

With staying indoors and without access to any physical grocery stores or pharmacies; many people including senior citizens have taken to ordering items of their need over online websites and apps.

This will bring an outlier customer segment into your eCommerce website and you need to put a sharp focus during the current COVID-19 crisis.

These new customer segments open up new engagement to increase ROI and retention in the long-run through.
But, don’t allow these insights to be reported as decision-making.

You have to dig deeper to identify and categorize consumption trends – relevant to your e-commerce platform – into the following buckets:

  • Temporarily postponed: This includes high ticket-value items such as apparel, electronic gadgets, footwear etc.
  • Accelerated: This includes daily grocery items, medicines, etc.
  • Disturbed: This includes face-masks, gloves, hand sanitizers, etc.

Categorizing these trends will enable you to make clearer distinctions between what your customers consider as “essentials” and “indulgences”. Remember that these customer perceptions are likely to evolve during this period and once a greater semblance of normalcy returns.

For instance: When the lockdown came into effect in the USA, only 13% of households were ordering food online in the first week. This percentage jumped to 38% by the third week. This highlights the changing attitude of customers towards food delivery from an “essential” to an “indulgence”.

2. Identify New Buyer Personas:

Fact 1: The COVID-19 crisis has reshaped buyer personas that are going to respond differently when the situation begins to normalize.

Fact 2: Based on the value chain in this current scenario, your customers will travel through the following phases towards retention:

buyer personas

After carefully analyzing millions of customer behavioral data points, we’ve identified five key buyer personas that are going to drive demand now:

  • The Captive Buyer:

This type of buyer is reluctant to substitute one product or e-commerce platform with another due to the high cost – in terms of time, effort, and/or money – involved in switching. He/she doesn’t mind postponing purchase based on product availability, last-mile delivery capability, ease and familiarity of platform usage, etc.

  • The Hoarder Or Panic Buyer:

This buyer’s demand is not dictated by the price but by the more primal emotion of fear. He/she is likely to purchase products in bulk – primarily “essentials” such as groceries, healthcare and hygiene items, etc. He/she is also unlikely to spend too much time and effort searching and browsing for products, which is why you need to offer the most relevant product recommendations ASAP.

  • The Price-Conscious Buyer:

This buyer display’s maximum loyalty to the price of the products he/she might be interested in rather than your platform or overall customer experience. He/she will be more attracted to product bundles, offers, and discounts that appeal to his/her spending propensity.

  • The Hesitant Buyer:

This buyer begins with the intention of making a purchase, but is highly likely to postpone or abandon the transaction completely during checkout. You need to give this persona confidence in your platform, customer experience, and last-mile delivery. An omnichannel marketing approach that allows you to orchestrate customer journeys, nudging them to complete the purchase, will go a long way in increasing conversions.

  • The Impulsive Buyer:

This type of buyer makes snap purchase decisions during checkout and is ripe for targeting with relevant cross-sell and upsell product recommendations. This is going to help you increase your average order value per conversion.

3. Personalize The Navigational Flow Across Your Website Or The Mobile App:

Fact: It doesn’t matter if your e-commerce website has the greatest looking Home Page or the most visually pleasing app UI/UX anymore. You need to do more. Your customers are unique individuals, so showing the same website or mobile app to both first-time visitors and repeat customers won’t work anymore!

Leverage your customer’s browsing behavior and order history to customize how you want them to navigate across your website. The more customized your navigational journey, the higher the chances of you directing them towards a purchase – faster.

You can also experiment with dynamic website elements such as graphics, banner images, and CTAs to optimize the persona-based viewing and navigation experience.

For instance: You can personalize the Home Page viewing and navigation flow across your e-commerce platform depending on whether a new visitor (or an unregistered app user) or a repeat registered customer lands on your website or launches your mobile app.

4. Strategically Leverage AI-driven Live Product Recommendations:

Fact: When your customers are active on your website or mobile app, you need to shorten their paths to conversion by giving them product recommendations that are tailor-made to each one of them. And, if you have a large product catalog, then you need AI to do all the heavy lifting, in real-time.

Our AI engine – Raman – enables you to show the most relevant product recommendations across your Home Page, Product Display Page, and Product Listing Page.

For instance: To better cater to your new buyer personas and customer segments, you need to deploy AI algorithms that learn from their actions and inactions in real-time to deliver contextual product recommendations on your website or mobile app.

The AI engine learns intuitively and can eventually predict with a great degree of accuracy what an individual user is most likely to click on, add-to-cart, and purchase.

5. Curate A Personalized Virtual Storefront:

Fact: Directing your customers to what they want has to be a relentless pursuit, as part of your larger personalization strategy.

You can climb higher up the personalization mountain by creating a virtual storefront for individual customers. Not only should this contain product recommendations with the highest probability of purchase, it would also continue to get dynamically refreshed based on customer eyeball data.

This means that this specially curated list of products would account for those recommendations that work and those that don’t and refresh automatically – based on how many seconds a customer spends hovering over an item. These time-stamped signals loop back into our AI engine, making it smarter, with every interaction that a customer has with your platform.

6. Deliver Predictive Product Recommendations Across Channels:

Fact: Your AI-led personalization strategy has to extend across multiple channels and devices, even when your customer is inactive on your e-commerce website or mobile app. Well-timed 1:1 customer engagement across digital touchpoints increases the probability of conversions – exponentially.

Deliver Predictive Product Recommendations Across Channels(Source: Bloomreach)

With Smartech, you can now trigger laser-focused product recommendations across high-impact channels such as email, app push notifications, and web messages.

Here is the kind of contextual recommendations that you can deliver to pursue conversions beyond just your website or the mobile app:

  • “Suggested for You” Recommendations: These are the best possible recommendations tailored to individual customers based on their general historical behavior; i.e. product/product categories viewed, items added to cart, purchase, etc.
  • “Cart Abandonment Recommendations: These are generated based on the products added to individual customers’ digital shopping carts where the customer may have dropped-off or not completed a purchase
  • Buying Pattern Recommendations: These are generated based on individual customers’ most recent product purchases

For instance: If you identify a customer segment that has repeatedly purchased Instant Noodles within the Dry Grocery category and is out of stock due to a demand surge – you can trigger personalized email recommendations updating this segment when the product is back in stock

  • Viewing Pattern Recommendations: These are triggered based on individual customers’ most recent products or product categories viewed
  • Bestselling Recommendations: These are generated based on the highest selling products on your website or mobile app. These are products that are being purchased the most when compared to other products over a period of time

For instance: In the current scenario, health safety and hygiene products such as facemasks, disinfectants, and hand sanitizers have quickly become best selling products – over the last 2 months – and will see a steady demand even when the lockdown period is relaxed.

  • Trending Recommendations: These are generated based on the most trending products on your website or mobile app. Essentially, these are products whose consumption has shown a percentage increase over a period of time.

For instance: Building on the above example, health safety, and hygiene products like facemasks rapidly became a trending product within its category and very soon emerged as a bestselling product, as the COVID-19 turned into a pandemic.

  • Recently Viewed Recommendations: These are generated based on the most common products that have been recently viewed by individual customers on your platform
  • “New Arrival” Recommendations: These are generated based on the new products that have been added to your product catalog. Our AI engine maps these products to the ones that are most relevant to individual customers and hit upon the ideal recommendations, capable of nudging him/her towards an eventual purchase

Depending upon what channels of customer engagement are working best for which customer segments and buyer personas, you can optimize your multi-channel mix as well as the send-times for these campaigns.

Not only do your recommendations have to be personalized, but they also need to be delivered on the right channel and at the right time. And, our AI engine facilitates all of this.

7. Harness AI-led Product Recommendations To Manage Your Inventory Effectively:

Fact: Your marketing efforts and inventory management have to go hand-in-hand to increase consumption while driving down overhead costs associated with surplus inventory.

The current COVID-19 situation would have fuelled greater demand for certain products while completely eroding demand for other items in your product catalog.

So, don’t just rely on “Bestselling” or “Trending” product recommendations to drive conversions, also account for other products – similar or otherwise – that you can suggest to ease the pressure on your built-up inventory.

Incentivize purchase with attractive discounts, offers, and combo deals. It’s a subtle balancing act and operational trade-off, but an aspect of your marketing strategy that requires urgent attention.

8. Deliver The Best-Possible End-To-End Customer Experience:

Fact: Customer satisfaction is a function of delivering seamless, reliable, and consistent customer experiences over a long period of time.

While AI-led product recommendations will open up relevance-backed conversion opportunities across customer segments and buyer personas, you still need to get other elements of your value chain just right, such as:

  • Seamless website or mobile app UI/UX
  • Fool-proof virtual payment gateways and flexible modes of payment
  • Sturdy packaging
  • Reliable in-time last-mile delivery
  • Provision for new-age package collection; eg: contactless delivery

The new rules of e-commerce marketing are already in play. But, relentless focus on the holistic customer experience – backed by personalization – can go a long way in bending those rules in your favor.

Personalization A Key Tool In The Post-Pandemic Ecommerce Landscape:

As more and more people are facing huge problems due to the pandemic, the one thing shoppers want to feel certain is purchasing.

Shoppers want to ensure they are purchasing the right product from the right brand with the right prices and this is taken into consideration as a person and not as a sales figure.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

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In this period of time, personalization has become a vital tool in the ecommerce market. As it enables the customers to feel through their needs, wants and fears which are taken into consideration and it is not being recognized on a valued, individual level.

Conclusion:

Omnichannel personalisation helps the ecommerce brand to unlock the growth in the revenue and waves the user.

Customer data and AI enables you to fulfill the demands, new conversion opportunities, and it turns the newly identified focus customers segments into loyalists.

Andolasoft eCommerce Development & Personalization service can help your e-commerce brand unlock new waves of the user and revenue growth for the remainder of 2020 and beyond.

While customer data and AI will enable you to fulfill latent demand, tap into new conversion opportunities, and turn newly identified focus customer segments into loyalists – don’t be a hard-sell!

At such a time, you need to position yourself as a situation-aware, empathetic, and customer-centric brand. And, not come across as a tone-deaf, opportunistic, and ROI-focused brand.

If you want to develop your eCommerce website, you can connect to us. Our dedicated developers hold many experience in developing eCommerce websites.

Reaping the Advantages of Mobile App Development

Posted on by Abhimanyu

Mobile applications are a growing industry with significant competition: more and more processes from different walks of life are being transferred to smartphones as applications. The niches in which the applications work is diverse: games, health, office programs, e-commerce, etc.

Building mobile applications must be a priority for many organizations, but it is often difficult to choose a better development method because the lines between the various options available are becoming increasingly blurred.

So, before choosing any development method for developing mobile applications, e.g. Web vs. mobile vs Hybrid, we will give an idea of the three options mentioned by professionals and the cons for each.

Depending on the project’s business goals and objectives, we decide which development method we should choose. Also, this article will discuss more deeply about the development of mobile applications and their benefits.

What is the Importance of Developing Mobile Applications?

When developing applications for certain mobile platforms or operating systems, it is known as mobile application development.

They provide optimized performance for customers and have the latest technological advantages such as GPS compared to web applications. There is a special application store for mobile applications where users can access this application.

The leading mobile app stores – App Store and Google Play offer a huge amount of software that solves the tasks of users. However, there is still room for innovation in the market.

Now it is important that all companies have mobile software today. Therefore, it is important to know the advantages of using mobile applications compared to web or hybrid applications.

The Popularity of eCommerce Mobile Apps

Is it mandatory for an online store to have its own mobile application? Will the investment justify itself? And what will be the return?

  • Mobile users spend 88% of their time in applications, and surfing the Internet takes up only 12%.
  • 60% of smartphone owners in the US use their gadgets for online shopping, 67% of them do it weekly.
  • 3 E-Commerce apps are installed on average on Americans’ smartphones and 33% of them are used weekly for online shopping.
  • 82% of smartphone users prefer a mobile app to a site.
  • +39 of the 50 major online stores have mobile apps.

Does the Online Store Need a Mobile App?

The experience of foreign partners shows that a mobile application is vital for E-Commerce projects. Such an application, in addition to a mobile site, is a win-win business strategy in the e-commerce segment. Consider why this is so.

What is Better for eCommerce: a Mobile site or a Mobile Application?

According to recent reports, 76% of Internet users in global go online with tablets and smartphones, and the share of mobile traffic continues to grow. To reach this audience, a site adapted for smartphones and tablets must be present at any online store.

However, to increase sales, increase customer loyalty to the brand, and attract new customers, you just cannot do without a mobile application. Let us see why the application solves these marketing problems better than a mobile site.

3 reasons why you should create a mobile application for your online store

  1. The online store app creates a loyal audience
  2. Application Usage Trends and Mobile E-Commerce Market – Growing
  3. A mobile application for an online store allows you to create an advanced marketing strategy

What to remember

The main metrics of the effectiveness of mobile applications is a place in the ranking of App Store and Google Play stores for key requests and the number of downloads.

However, it is also worth evaluating the audience’s loyalty to the mobile application or otherwise an indicator of user retention.

To do this, analyse the average number of active users per day – DAU (daily active users) and MAU (monthly active users), that is, the number of users who launched the application at least once a month. This will help you understand how often they use it.

Conclusion:

In closing, mobile applications look and feel great, and function well, which leads to a better user experience, customer satisfaction, and retention rates.

After all our deductions, we can conclude that the original application is easy to use, has an excellent UX / UI design and works very well, which makes the application provide an excellent user experience, customer satisfaction, and retention rates.

Before choosing an original application for development, the following factors must be considered, such as:

  • Which major platform you want to build for – Android or iOS.
  • If you want the best quality, user experience and user interaction.
  • If you are looking for a high-performance commercial software product.
  • The budget of your mobile phone as a mobile application is quite expensive.

As user demand increases from the mobile experience, it basically becomes important to adapt to their dynamic and ever-increasing demands.

In short, we recommend that you choose “mobile forms software” to develop mobile applications to stay competitive and provide high-quality products.

We advise you not to try to choose the application development that is affordable, but chooses the option that suits the market needs, gives you value, and helps you stand out in the market.

How To Implement B2B Customer Retention Strategies In SaaS

Posted on by Jay

B2B software companies have to spend time and money on customer retention strategy. It is not easy to retain your existing customers and get new ones as well. However, it is essential to stay in the game. If your company’s software is not getting traction with customers, you will soon lose them and see a gradual decline in business. SaaS companies have a much easier time with retention strategy than B2B software companies.

Wondering what strategies are working out best for SaaS companies? Read on for 10 of the best strategies for B2B customer retention. But first:

Why Do SaaS Businesses Need A B2B Customer Retention Strategy?

Customer churn has the power to rip a hole in any business. In fact, a recent CallMiner study found that avoidable customer churn costs companies $136 billion a year.

Unfortunately, that effect is amplified when your customers are businesses because chances are, they’ll replace your product with one of your competitors’. That can be devastating if you’re running a SaaS company that relies on customer loyalty or long-term subscriptions to turn a profit.

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Still, the best B2B customer retention strategies aren’t just about playing defense. A mediocre customer retention strategy will keep clients from leaving, but a stellar strategy will excite your customer base, fortify customer loyalty, and inspire clients to recommend your product to everyone they know.

Here are 10 strategies to take your B2B customer retention to the next level:

1. Give B2B Clients Engaging Resources

Especially in the SaaS world, customers will have questions about your product. When problems pop up, they want to solve them right away—while they’re experiencing them.

If you want to increase customer retention, give them the resources to solve problems on their own. Start by crafting quality inbound content that answers their potential questions, and give them access to it 24/7.

When you assemble a knowledge base full of webinars, blogs, e-books, white papers, and other useful content, your customers will be able to answer questions on their own time. As they learn more about your product, their bond to your brand will solidify.

2. Educate Customers Right Away

As a SaaS marketer, you know a customer’s experience doesn’t stop at the sale. If your customer starts using your product without knowing how to use it, that’s a recipe for frustration and churn. That’s why education during the on-boarding process is at the heart of B2B customer retention.

Give customers video tutorials, shower them with welcome emails, and send out newsletters to keep them engaged. These little educational guides will show them how to get the most out of your product. In turn, they’ll reward you with their loyalty.

3. Use Customer Feedback To Improve

It’s easy to get defensive when customers give constructive feedback, but feedback is invaluable if you want to retain customers. Treat it like gold.

Use Customer Feedback To Improve

Of course, you should learn everything you can from feedback and use it to improve your efforts, but don’t stop there. Be sure to let your customers know their voices are being heard, and show them how you’re using their suggestions. Showcasing this give-and-take relationship will strengthen your partnership and encourage them to keep working with you.

4. Keep Your Finger On Your Customer’s Pulse

Customer churn doesn’t have to be a surprise. And if you watch for red flags, you can address issues before customers go quietly into the night. Here are some things to watch out for:

  • They haven’t logged on to your platform in a while.
  • They’re searching your website for cancellation info.
  • They’re less engaged or using your product less.

When a customer throws up a red flag, reach out and see how your company can help. A simple follow-up call or email could be enough to pull them back in.

5. Make Business Personal

More and more, customers want to build a connection with the brands they use. And the more they interact with your brand, the more loyal they’ll become.

Make Business Personal

That’s why excellent customer retention strategies rely on personalized content. Set up loyalty programs, send personalized emails, and keep B2B clients engaged with content that answers their questions. It all adds value to their experience and makes them want to stick with you.

6. Treat Loyal Customers To A Surprise

Especially in B2B relationships, emotions are on high alert. Nobody wants their business to fail, so owners naturally have high expectations for the companies they work with. That’s what makes pleasant surprises so powerful.

Every business relationship is a chance to delight, impress, and deliver outstanding service. By surprising loyal customers with a simple thank you card, small gift, or free upgrade, you’ll remind them how much you value their patronage. They’ll reward you with their ongoing business.

7. Communicate Non-Stop

Communication is the glue that bonds B2B relationships. And a proactive communication strategy can solidify your customer retention plans. Even if your customers are perfectly happy, it’s smart to carve out space on your calendar to connect.

Beyond setting regular meetings, you can beef up communication by sending out newsletters or launching a full-on automated email marketing campaign. All the while, keep track of customer engagement and reach out to them when communication drops off.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

LEARN MORE

For SaaS companies, uninterrupted communication doesn’t just lift retention. It creates new up-sell and cross-sell opportunities that feed your business’s bottom line.

8. Build Trust With Social Proof

Trust is at the center of any relationship—and that goes for B2B partnerships as well. That’s why some of the best SaaS customer retention strategies out there rely on social proof.

By sharing testimonials, case studies, and customer stories with your clients, you can show them new ways your product can help them. At the same time, don’t hesitate to reach out to happy clients for a quote or interview about their experience with your company. This will remind them of everything you’re doing for them, and it will help them see that they’re an asset to your team.

9. Wring Out Everything You Can From Exit Interviews

It can be heart-wrenching when a customer ultimately cuts the cord, but that’s no reason to skimp on exit interviews. Exit interviews are a chance to crawl into the head of a dissatisfied customer and find those little nuggets of information that will improve your marketing efforts. By learning everything you can from those customers that churn, you can make little tweaks to boost retention.

10. Elevate Experiences With Better Customer Service And UX

B2B customers can’t afford to muddle through poor experiences. If they can’t find a product or solution to their problems right away, there’s a good chance they’ll look somewhere else. In fact, one Accenture survey found poor experiences caused nearly one in two customers to give up on a company’s website and conduct business elsewhere.

That’s why it pays to invest in customer service and your website’s user experience (UX). The more seamless a client’s experience is, the more likely they’ll be to stick with you for the long run.

These retention strategies should help you keep your B2B customers for the long haul, but when it comes to SaaS marketing, they’re just the tip of the iceberg.

Want to make your SaaS product invincible? Let’s Discuss!

6 Best Website Builders of Today

Posted on by Ezio Montoya

In the World Of Technological driven societies, everything has been linked with the same. From buying groceries to selling automobiles.

Hence, it comes out to be as no surprise that passion, ambition, and business can be driven through this asset as well.

Websites have had and currently is, playing a role of eminence in the fields of E-commerce and marketing as well as in the pursuit of taking up ambitions through the mentioned above.

In the light of the same, here are the six best website builders of today for you to understand what each of it entails and which of the six, could assemble the qualities for your dream to turn into a plan!

1. Squarespace

Squarespace is a proficiently designed, well thought, and highly suggested builder if you’re seeking to make inroads for your passion or ambition via your websites.

This website builder entitles you to create enrapturing designs for your blog by providing you beautiful templates, maps, and layout in general.

Coming out on its functionality and accessibility, it could be considered as an apple, in comparison to other builders such as Wix and blogger.

The working and making of a website in the Squarespace come out to be more as work with the gut.

The quality required to make the most out of the same is thoughtfulness.

Consider the above for the best designs and themes.

2. Wix

Wix is for personalities who wish to have an indefinite control. The significant difference that lies in between the other builders and Wix is the quality of the latter being flexible by dragging and dropping within an essentially designed grid.

Wix assimilates the preference of the builder and works following the builder with no possible constraints.

Wix provides you with more than 500+ themes and designs, templates, and layout options, and that is where the flexibility might turn into a monotony of tedious work.

If you have a plan out ready in your mind with no pinch of indecisiveness while carrying the action, You’re good to go!

Consider this if you wish freedom. In your usage!

3. Webflow

Webflow can come out to be a unicorn among all of its other competitors, the extraordinary feature that it contains is its designer tool.

It’s the first tool to dispense the quality of flexibility of front-end coding without needing to do the process. Yes, You heard that right!

To allocate your taste, you need to fundamentally understand the process of web designing, which includes style hierarchy, box model, and other such concepts.

Unlike Wix and Squarespace that renders you a default template, Webflow is categorically distinct and gives you high flexibility and freedom to design your website in an ultimately productive and desirable manner!

Consider this if you have a colorful and well-designed Plan inside your head!

4. Weebly

If you are looking for a builder that can have several customizable designs and help you develop these or the ideal business. Weebly will let you have a perfect protocol to go by while allowing you to create with a step by step guide and planning tools.

It is a free website builder that lets you have all the necessary tools at one spot so that you stay organized and can save time. With Weebly, you can easily customize your contacts, messages, and emails.

Weebly provides you with a smart engagement that turns your visitors into repeat buyers. Here you can promote your brand, products, and services by keeping the required consistency.

Also that you can track the results from your email statistics and check out on how many people clicked on your emails and make the best decisions for your business.

Consider this one if you wish to create a super-fast building of a website or a blog in the lesser time frame.

5. GoDaddy

With their tag line saying, “a brilliant website is just the beginning,” go Daddy is a free Website creator, which lets you work out everything in one place by letting you manage social media and email marketing too.

It also allows you to be found at every platform which matters to people, whether it be Google or Facebook. Also, the ones with less technical knowledge can easily create a new site without much ado.

It’s an excellent platform wherein smart suggestions will grant you complete support for raising your business. Everything from social media engagement to sales gives you a complete package to create the best connection with the public at large.

Consider this one if you ain’t a pro with the technical things, and it will make you feel like one with a simplified working environment.

6. WordPress

If you are looking for an all in one place, whether it be a blog portfolio, portfolio, or a business platform. It gives you a vast number of themes to choose from, with a bonus of new ideas getting added weekly.

It provides a mobile-friendly website that would be attractive and effective for the audience.

You would have the assistance you need with the team of experts engineers anywhere you get stuck 24*7 through emails and forums, and the ones with paid plans can have a live chat.

Here all you have to be doing is to create, and then you own it.

Consider this website builder if you wish to own every content you publish, you are the author, and you can export it to wherever you want.

You can also refer to sources like TechyHost for more information if you want to read more and learn more.

So go ahead and turn your dreams into plans, and create to innovate your passion into ambition through these website builders that might suit you the best to sustain your ideas!