Rethink Commerce Blog

Posts Tagged ‘software as a service’

Boost Your SaaS Renewals With These Three Pricing Strategies

Posted on April 5th, 2016 by

Customer satisfaction drives renewal rates—most every SaaS company is aware of this fact. However, customer satisfaction is an objective measure that can mean different things to different people. Some customers are satisfied when prices are low, others are satisfied when features reflect their needs, and still others are satisfied when they receive a great deal of support. […]

Ways to Increase Your SaaS Renewal Rate

Posted on March 22nd, 2016 by

The fortunes of your SaaS business are inextricably tied to customer renewal rates. If you can increase renewal rates and add new customers or revenue streams, you’re more than likely to continue to grow and have success with your business. It’s a pretty simple formula in theory, but much harder to pull off in practice. The reasons why are many. Is your product priced too high? Is your customer service lacking? Are there issues with your product? It can be tough to pinpoint why your customers are bailing if you don’t know where to look, and if you don’t know what’s broken, you can’t fix it. […]

Six SaaS Growth Hacks For Customer Renewals

Posted on January 6th, 2016 by

As a SaaS manager, no one needs to tell you how important renewals are to your business’s growth. You know it’s critical. However, knowing you need to reduce churn and putting in place an effective strategy to accomplish it are two completely different things. The fact is, decreasing SaaS churn is a goal that eludes many of us, which isn’t good as a high churn rate is almost certainly a recipe for failure. […]

3 Strategies That Will Increase Customer Acquisition and Retention

Posted on December 8th, 2015 by

It should go without saying that the first step toward having success with a SaaS business is offering high-quality products and services that add real value to your customers’ lives. But even with great products that sell themselves, you still need effective marketing and customer relationship management to take you to step two and beyond. Why? Well, If your prospects aren’t clear about how your product would benefit them, they may decide to go with your competitor. Or if your current customers don’t feel you value their business, they may decide not to renew. In the competitive SaaS environment, it’s crucial to use all the tools at your disposal to both gain and retain a robust clientele that is engaged with your brand and confident in the value you’re offering them. […]

Best Strategies For Upgrading Your SaaS Users

Posted on October 21st, 2015 by

Increased revenue and stabilized customer retention are the bedrocks of the SaaS industry.

In order to keep increasing monthly revenues and offset the cost of churn and customer acquisition, expansion revenue becomes vitally important to the success of your SaaS company.

Expansion revenue is key to growing monthly recurring revenue, because at its core is the idea that it’s easier and more cost-effective to increase the amount of money generated from current customers upgrading their service, than it is to market to and acquire new customers. By compelling current customers to upgrade, you’ll have a ready source of expansion revenue.
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SaaS Case Study: Improving Conversions by 12% with Fewer Form Fields

Posted on September 22nd, 2015 by

“Less is more”, the old adage goes, and we’ve confirmed that less can be way more when it comes to cart conversion rates. Avangate recently ran some split tests on the Checkout page that increased conversion rates by an impressive 12%. And all it took to make such a big difference was eliminating a few fields on the Billing form. […]