How can a SaaS business ensure 100%+ retention rates? Simply renewing customer contracts is not enough.
In this event, we will discuss the above focussing on 12 areas so that your company doesn’t just renew licenses, but also provides such a level of customer success to make them Active Advocates, as well as spending more with you each year.
We also look from a Fund’s perspective and how it impacts their decision to invest or not.
9 am – 10 am Thursday 15th April 2021
Online event (via Zoom)
One of the great revolutions in the software business in the Cloud era has been the focus on Customer Success, now a dedicated function in most companies. Back before Cloud the industry was littered with software purchases either not successfully deployed or ‘on the Customer’s shelf’ not even used.
Nowadays renewals are often the key measure for Customer Success but some SaaS organisations are satisfied with no more than 90% ‘gross’ renewals, meaning that 90% of the value of subscription revenue is renewed in the following year. However, additional usage /upsells should mean that ‘net’ renewals are over 100%. But why do many SaaS businesses not achieve at least 100%?
For those that do, is 100%+ the only measure of customer success?
In this session, our Panel discusses the 12 key questions, below, to help you ensure an optimum level of customer success – one that makes your customers Active Advocates also.
——–1. Is Renewal enough?
——–2. Is your customers’ business improved?
——–3. Are you proactive?
——–4. A Trusted Advisor?
——–5. SaaS v. Services?
——–6. Product – configure or customise?
——–7. A Customer Master File?
——–8. Customer Success – not part of Sales, so where does it fit?
——–9. Are your Customers heroes?
——–10. Community Power?
——–11. The top 3 priorities People, People, People?
——–12. Measure renewal still?
“Achieving 100%+ Retention Rates plus having customers who are Active Advocates shows you are an investable SaaS business which will have lower Marketing and Sales costs than the norm and it is also continuing evidence of your competitiveness.“
This increases your Valuation when obtaining Growth Capital and on a subsequent Exit too. Our Panel will explain how to achieve this and why it is so important when fund raising.
Adam Hale, SUG Member and Chairman of the Scaleup Institute
Edward Keelan, Investment Director at Octopus Investments
John O’Connell, Executive Chairman of ScaleUp Group