8 Secrets to establish Trust and increase SaaS Client Retention!
Client Retention refers to the ability of a product or company to retain its client over a period of time. Revealed here are 8 such secrets to increase it.
May 21, 2020
The business of the customer market has a golden rule, one which sticks to customer retention and claims them as ‘Always right’. It is never fun to let go of your clients. Letting off clients’ results in letting off profit which then results in poor business. And thus, client retention comes into picture.
Well, no issues on that as that is being taken care of in what you are about to read next. Time for some advanced tips on client retention as well as account retention. This is what you will be asked for:
Mr.Content, the indomitable King
Content is always the king in the marketing business. Note that the more engaging is your content, the better it is for the clients to connect. That being said, you can prevail over social media with ease. Contact more people and share only that content which truly matters to the customers.
Chalk out a plan in such a manner that enables them to revert every now and then. Or rather just progress into a community. Building a community on the social platform is going to reward you a higher edge, than the rest.
As Maurice Franks rightly puts it, “Loyalty cannot be blueprinted. It cannot be produced on an assembly line. In fact, it cannot be manufactured at all. It is a force which leaps into being only when conditions are exactly right for it – and it is a force very sensitive to betrayal.”
Selling on the Clock
With that, I meant that to enable SaaS client retention, you always be on to run to sell. The more, the better.
Always be on the lookout to create unparalleled customer service to your clients. Now you do not want them to cancel their subscription, do you?
One of the top ways to do so is via upselling. Being a SaaS company, it is upselling that will help fuel the growth to a very large extent. All you need to learn is to sell smart, wise and how not take a backseat. With this, you already are avoiding cancelations, anyways.
Knowing the Experience
A big tick for SaaS client retention comes with customer experience. Begin with the calculation part, how much is dedicated towards the service? Is that enough? Can you take it a notch up?
Delve into features like the purchase procedures, correspondence, functions, costs, speed, renewal process, and above all customer experience. There is an experience of all of it.
While a positive experience will drive client retention, a negative experience will instantly nudge a customer to leave or unsubscribe. Who knows, by providing a great customer experience you might just pull off a client from the edge of his seat? Try and adapt as you go.
Customer Loyalty on the Go
Who does not like surprises or a little treat a couple of times or a dent of gifts on special occasions? Well, a customer too is no different.
Statistically proven, surprising customers with a little something has enhanced satisfaction. With surprise, I don’t exactly mean to wrap a Coco Chanel’s fragrance mist in a red velvet bag and deliver it to your customer’s doorstep but something rather subtle.
Discounts maybe free features or maybe a month free subscription should do the needful. Keep it simple and relevant to your product or service.
Trust and Fidelity
A customer who would have used your service in the past would revert only if they see some value or potential in it. But for the ones who did not make long-term relation with you, there is nothing wrong to ascertain the reason behind it.
Collect their responses and do a root cause analysis of the same. At the end of the experiment, you should be having a list of such items on which you can take a course of action. Tailor ameliorated schemes for different customer segments and increase your client retention rate.
Cater Help at all Times
Lending a helping hand will fetch you brownie points in the future. When you see that a customer of yours needs some assistance, be there for them.
Be as friendly and professional as you can be. This is that point of time when the customer might walk off if not addressed properly or simply put, you are walking on eggshells now.
Render other services if possible that can cater to their needs. The best account retention policy which you can possibly imagine is honesty. Make your clients feel at home, however, do not get into theirs.
Old is Gold
Interestingly, the customers who have been with you since the past years yield you a better revenue stream as compared to the new ones. On one side, it must be noted that retention is not all about optimizing the product as it is understanding the customer.
To have full-fledged knowledge about this, you may hurl into metrics such as customer surveys, user testing tools or other customer-based data. Therefore, try to retain your older customers as much as you can.
Improvisation, as we say!
You will now be in a position to know that some of your features are doing better or are of better use to your customers. Take some time out and research on what are those tools. Ensure improvisation on those tools first.
Keep your customers from the need to unsubscribe by an excellent quality that says it all. This, in turn, will keep the client truly engage, use more of that particular tool. Get dependent and hence, cut down on the churn rate immediately.
A client will truly commit to a recurring payment only when you truly resonate with them. If the aforementioned is followed religiously, you will see the miracles in no time.
You become the SaaS, that your clients need and love. You build confidence both in the hearts of the customers as well as yourself. Respect them and you receive respect back. With this, they will stick around more often.
Simran hails from the content marketing backdrop with extensive knowledge in blogs, articles, and technical whitepapers in the non-fictional domain. She uses her 'gift of the gab' to explore new possibilities on her way and to make an exquisite impact on her readers. In her spare time, she likes to read journals on artificial intelligence or play with her cute kittens.