5 Ways to Improve Customer Lifetime Value for Your SaaS Business

Customer lifetime value is one of the most important metrics to measure for any company wanting to improve sales or scale-up. SaaS companies find it is even more critical to their success than anything else. Every type of software relies heavily upon the customer experience, measuring every aspect of it from usage of the app to customer service itself.

Customer Lifetime Value (CLV)

With happy customers and a low churn rate, SaaS companies can achieve incredible CLV and revenue growth.

There are several different ways you can calculate customer lifetime value. You could use the Customer Service Metrics Calculator offered by HubSpot. Or you could take a more straightforward approach by calculating your annual earnings and dividing it by the number of customers that your company served over that time.…

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4 Solid Strategies for Retaining Customers

It has often been said that retaining a customer is more profitable and easier to do than getting a new customer. Customers can easily come and go as they please, and business retention is becoming ever more important as new market players are aggressively taking market share away from well-established companies who are just trying to maintain the status quo.

Customer retention by nurturing relationship

Strategies need to be put in place to hold onto as many customers as possible to at least stabilize growth – some advice regarding this important topic is shared below.

Regularly use a high-quality CRM tool

Many company’s marketing efforts rely on keeping track of each customer to you know when they were last contacted, what the messaging consisted of, what their status and value is, and other key pieces of data.…

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5 Strategies to Attract and Retain Customers

Every business out there has to find a way to retain current, but also attract new customers. Offering a quality product or service is what matters the most, but what good will it do if no one knows about it?

Customer retention strategy

Hence, having a well-defined strategy that will get you new customers, but also keep the ones you have satisfied, needs to be one of your top priorities. Of course, that strategy has a lot to do with smart marketing efforts.

Promoting your business is a must and this issue can be divided into a few segments:

  • social media
  • blog
  • online ads
  • email marketing
  • affiliate marketing

Social media

It is common knowledge that social media platforms such as Facebook, Instagram, or LinkedIn have never been more popular.…

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What Free Shipping Means to Your Customers

Customers want free shipping. Amazon has forced the issue, pushing retailers to offer free shipping on products. The customers of today expect shipping to be fast, and if you’re in a niche where other retailers are offering free shipping or better prices, you’ll need to offer the same perk to compete.

Free shipping

One study suggests that 90% of consumers say that free shipping is the incentive to shop online.

People want to shop online because it allows for shopping day and night, but if shipping is too costly, these shoppers will go to ground stores.

If you’re a small business owner, free shipping may mean the difference between your customers going to Amazon or shopping on your site.…

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Sales Tips to Increase Your B2B Customer Retention

Acquiring a customer is hard work. No matter what field you happen to be in, every new customer is cause for celebration.

Of course, picking up a new customer is only the first half of the equation. Just as importantly, you need to be able to retain that customer moving forward.

B2B customer retention

A big part of customer retention is delivering quality goods and services at a fair price. That much goes without saying. But did you know sales can play a role in customer retention as well?

Let’s look at that subject in this article.

Selling the Right People

First and foremost, if you are going to retain customers down the line, you need to make sure you are finding the right customers in the first place.…

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The Importance of Measuring Your Average Customer Lifetime Value

Customer retention has the greatest effect on the amount of revenue a company receives. This means that the most pressing challenge for any subscription-based business is keeping their customers subscribed to their services. If you’re running an enterprise that follows the subscription business model, you should be aware of the best practices for keeping your customers.

Customer retention

There are several metrics that can be used for measuring customer retention. For a subscription-based business, the average customer lifetime value or ACLV is one of the most important metrics. What constitutes this metric, and how exactly is it calculated?

The ACLV

The average customer lifetime value is the average amount of revenue a company can get from each customer.…

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Top 4 Tips For Making Your Customers Happy

When it comes to running a business any business owner will tell you that it is easy to make customers dissatisfied. Making customers satisfied, on the other hand, is a little bit more of a process which requires effort and attention.

Serving a happy customer

In order to keep customers coming back, the formula is usually the same regardless of your line of work. Here are some of the most foolproof ways to make and keep your customers coming back.

Be Responsive

When a customer reaches out for services or information, it is crucial to be available to answer their queries and requests. When you are not available or it is out of business hours it is important to have a reliable and organized messaging service where they can leave their details and receive a call back at your earliest convenience.…

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7 Customer Service Best Practices Tips for Retaining Great Customers

Let’s face it: Getting customers is easy most times compared to actually keeping them. There’s so much competition to contend with these days, it’s near impossible to keep running with the best prices in your industry, your city; your little cozy niche that nobody knows about… Yet!

Then one day Joe Bigtime, who’s been watching your every move and figuring out how to do it even better than you, strolls into town and upsets everything you’ve been working toward. While you’ve been focusing on customer acquisition, your retention efforts have been left on the back-burner.

Suddenly, your customer’s lack of loyalty toward your business, and your obvious lack of loyalty toward getting their business again and again becomes of significant importance to your bottom line.…

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7 Great Tips for Maintaining Good Client Relationships

In most industries, you need to have a touch of selfishness in your nature to be good at sales. After all, you have to beat out the competition to get those accounts signed. At the end of your pitch, you’ll either win or lose. Even when working closely with a team of other marketing and sales agents, your goal should always be the brightest shining light in the room, the super-seller that everyone else wants to be like.

Business client relationship

Having the winning, super-competitive, relentless drive needed to meet and exceed quotas every month will get you the sales. It won’t, however, help you hang on to that crucial big fat twenty-percent of clients who’ll keep company bank accounts filled with cash.…

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Why You Need to Hang on to Troublesome Customers

We’ve all been there at one point or another in business: dealing with a mean, snarly, over-bearing, impossible-to-satisfy customer that seems hell-bent on milking every last dime of profit from your business.

As a business owner, it’s so easy to focus on these “PIA” customers: concluding that telling them to “hit the bricks” is the only sensible solution. They exist in your world only to waste your time and money, and generally put you and your employees in a bad mood.

Nagging customer

The good…

Mr. Jones makes his purchase and you never hear from him again until he lavishes you with yet another order every month.…

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