SaaS over the years has gained considerable popularity because of key factors like faster internet and technological advancements, especially in the IT sector.
Successful SaaS entrepreneurs and business owners can testify to the challenges that come from operating their businesses. To run a business effectively you have to survive and grow and that requires building a clientele base. Therefore below we highlight and discuss strategies that can be put in place to achieve this.
Factors influencing SaaS Growth with customer
Software and service
It goes without saying that the SaaS software needs to be user-friendly. All the information should be arranged in a logical manner. Figure out the pain points of your clients and work hard to reduce their strain.
While at the same time the quality of your service offering should be exceptional to maximize customer satisfaction.
Statistically, the most capable IT companies swear by repeat customers. If a company retains 5 % of clients a marked increase in revenue of up to 75% can be noted.
In addition, repeat clients can serve as a considerable source of lead generation.
For starters to properly promote customer retention, it is critical that your business establishes trust between it and its clientele. Providing high quality products and services will go a long way toward enhancing trust.
Secondly don’t focus solely on the SaaS business aspect but rather focus on the solution the particular software is offering. Clients buy solutions.
Thirdly provide smooth transitions between customer service and the sales teams. Enable specific people to be in charge of certain queries so that no one slips through the cracks. This will ensure your clients feel valued and appreciated, converting them into loyal clients.
Plus, track all ongoing client communications on one platform such as a CRM or a project management tool.
Customer service support
Customer service is not an afterthought. These teams can make or break a business. Someone once said people do not buy because of want or need alone but because of how they felt during the process.
Customer service teams should be trained to expert levels. Most clients don’t always know what they want or need. Therefore a customer service personnel possessing the necessary knowledge to address an issue will surely go a long way to satisfying a client.
Also a fast response rate to consumer queries is very important. Coming up with excellent systems to respond to clients within 24 hours, is essential for any business, not just SaaS. People no longer expect to wait for 3 to 5 working days for a response; people are becoming less patient every day.
Information is power I cannot stress that enough. We are in the information age after all. Use Information in developing SaaS customer-centric business strategies in the following ways.
- Customer analysis – once a company collects, compiles and assesses all the customer data they have, it typically spends resources wisely. Using demographics, purchasing metrics among others factors significantly increases the rate of customer acquisition
- Mapping the customer journey– You can plan in advance for your customers. An example would be orientation of your clients. You can organize webinars, send automated emails and discover innovative ways to engage your customers throughout. Depending on the customer’s journey, you can cross-sell, up-sell or add-on products and services
- Generate reports periodically – monthly, weekly, semi-annually, etc. This is to properly provide you with information on the progress and activity of your customers. The reports encourage you to plan better as well as anticipate any upcoming developments. Allowing you to stay one step ahead of your competition
- Develop key performance indicators with the perception of the clients in mind. To satisfactorily satisfy their needs
- Using customer metrics to accurately identify prospective customers that are likely advocates for your products and find out if they can recommend your products to their circle of influence
I hope this article sets you on the path of success, best of luck to you.