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.