Retention and upsale in using customer data
0 likes400 views
This document discusses using customer data for retention and upselling in SaaS companies. It notes that customer retention costs much less than new customer acquisition, and most SaaS revenue comes from existing customers. It emphasizes the importance of understanding customers, their usage, needs and renewal likelihood in order to take targeted actions to improve retention and identify upselling opportunities. The document provides steps to build an organizational health system using customer data to turn it into actionable insights and influence renewal rates and upselling.
Convert to study materialsBETA
Transform any presentation into ready-made study materialselect from outputs like summaries, definitions, and practice questions.
Retention and upsale in using customer data
- 1. Copyright 息 Panaya LTD. Retention and upsale in using customer data Ariel Utnik VP Customer Success
- 2. Facts you must know about the SaaS business New customer acquisition costs much more (X6) than existing customer retention Majority of revenue in SaaS companies comes from existing customers (70-90%)
- 3. Facts you must know about the SaaS business
- 4. Based on that, are you sure you are doing enough for your customers? Do you understand What is the customer status? Do you understand How they are using your solution? Do you understand why they bought your solution? Can you predict what will be your renewal rate? Do you know what action you can take to impact the to be churn customers? Can you do it in a systematic way?
- 5. The data opportunity & challenge NPS Support case Support Survey Product Usage Engagement Training Availability Billing data Demographics
- 6. Can you point out the relevant data and events for action?
- 7. Can we predict the outcome and influence it in advance? What is the right action to convert the customer to success?
- 8. Turning data into actionable knowledge while calculating, analyzing and predicting individual customers towards increasing renewal rate.
- 9. How is upsale connected to retention? Customer Success Manager is the trusted advisor and shouldnt sell products or services But he Aware of the implementation phase and when is a good time to approach the customer Can identify changes in usage that can be an opportunity (license utilization etc) Mostly aware of customer organizational challenges and what new offering can address them Using implementation of best practices and new methodologies he can drive a demand of additional products and services
- 10. Dos and Dont Understand your customers and build successful and churn profiles When building customer profiles, less is more Review and update their profiles they are not static Compare your install base to those profiles and identify the gaps Take action !! Do it as close as possible to the event Engagement can be calculated only across time, data snapshots without trends are misleading Your health system should be dynamic and evolving
- 11. Seven steps to build your own organizational health system and start turning data into actionable knowledge 1.Map your customer organizational data sources 2.Build your successful and churn customer profiles 3.Build your health system 4.Build playbooks 5.Prepare actionable reports 6.Predict expected churn 7.Tune & improve the system
- 12. Its Critical for your business success Its a journey, it continues to evolve and never ends Are YOU ready?
- 13. Copyright 息 Panaya LTD. Thank You