Revenue Expansion
Your existing customers are prime candidates for helping your company generate additional revenue by providing more value than they initially expected through upserving. Many successful SaaS companies can attribute a significant portion of their growth from their existing customers.
Customer Engagement
Understanding of your customers challenges is vital to providing the right solution to solves their problems. A thoughtful customer engagement strategy will make your customers happier, keep them longer, and most importantly help you grow your business faster.
Community Development
By focusing on customer needs rather than promoting your product, you'll build long-lasting relationships with customers and even non-customers by providing value through a vibrant and engaged online community.
Customer Empowerment
Retaining your best customers and keeping churn low should be a top priority for your company. Typically, acquiring a new customer is 5X more expensive than keeping an existing customer.
Building your brand to power your business.
Customer Success Elements to Boost Retention
Revenue Expansion
Monthly Recurring Revenue or MRR is a key growth driver for SaaS companies. And, when your existing customers generate more recurring revenue for your company (e.g., upgrade to the next pricing tier), it’s a positive signal that your customer is receiving more value and your product is generating more demand. Rather than allocating resources to acquire net new customers, focus on potential add-ons, upsells, and cross-sells opportunities with your existing customers which will lead to more sustainable growth.
Customer Engagement
Monthly Recurring Revenue or MRR is a key growth driver for SaaS companies. And, when your existing customers generate more recurring revenue for your company (e.g., upgrade to the next pricing tier), it’s a positive signal that your customer is receiving more value and your product is generating more demand. Rather than allocating resources to acquire net new customers, focus on potential add-ons, upsells, and cross-sells opportunities with your existing customers which will lead to more sustainable growth.
Community Development
Attracting an engaged audience takes substantial resources to develop but when you succeed the results can be spectacular. An active community can help connect satisfied customers with potential prospects who may have questions they’d like to ask before making their final decision. However, it’s essential to keep the community open, honest, and free of blatant advertising or unethical communications that may negatively impact the perception of your brand. Although, if you focus on building human-to-human relationships it’ll be easy to avoid those pitfalls. Provide value first, and the community will follow.
Customer Empowerment
Empower your existing customers to achieve their goals. When you put more power in the hands of your current customers, you’re more likely to keep them coming back for more. Your existing customers can be a wealth of knowledge, and as a result, you should be asking for their feedback on a regular basis to improve your overall customer experience. Additionally, let your customer know that their feedback matters and how your company will apply their input to improve the product and customer experience. Magical things happen when you focus on making your customer the hero and help empower them to be more successful.