Customer Retention Strategies For SaaS Companies

A successful customer retention strategy requires constant iteration and innovation to keep up with an ever-changing SaaS market environment.

It’s also not like customer retention is the business of only one department. There has to be cross-departmental and cross-functional cooperation between product, sales & marketing, customer success, and customer support to implement a successful customer retention strategy.

Why does retention management take so much time and effort? Well, because both the rewards and risks are so great.

  • Reducing churn by only 5% can increase profits by as much as 25-125%
  • 61% of consumers take their business to a competitor when they end a business relationship

Customer Retention Strategy #1 – The Importance of Positioning and Managing Expectations

Customer Retention Strategy #2 – Repel Marketing

Customer Retention Strategy #3 – Having Self-Explanatory UX and Great UI

Customer Retention Strategy #4 – Personalizing Introductions

Customer Retention Strategy #5 – Interactive Walkthroughs

Customer Retention Strategy #6 – The Impact of Onboarding Gamification on Customer Retention

Customer Retention Strategy #7 – Secondary Onboarding: The Key to Customer Retention

Customer Retention Strategy #8 – Onboarding Invited Users

Customer Retention Strategy #9 – Understand Why Support Is Needed and Fix The Cause

Customer Retention Strategy #10 – Categorize Customer Issues

Customer Retention Strategy #11 – Make Sure All Support Requests Go To One Place

Customer Retention Strategy #12 – Set Customer Support Standards

  • How quickly customers receive a response
  • How customers are to be greeted
  • Any discretions staff should have for refunds or how to ‘make things right
  • How and when to follow up with customers
  • How to track requests and ensure nothing slips through the net
  • How to respond to specific problems or situations

Customer Retention Strategy #13 – Segmenting customers based on their health

 

Source: https://userpilot.com/blog/customer-retention-strategies/

 

Toufiq Mahmud