Reduce churn, starting today.
Hey ?? Is churn a problem for you? We get it. 2023 is a tough year for SaaS. Issue No. 3 is all about Customer Success. Learn how to get better at it, keep your customers, and grow your revenue from existing clients.
Issue 003:?
?? Churn in 2023 - Gloomy Stats
?? Only 3% of RevOps focus exclusively on customer success
?? Customer Success - SaaS Life Raft in 2023
?? Reduce churn and increase upsell with customer data
Read Time: 5 Minutes
?? Churn in 2023 - Gloomy Stats
It costs 5 times more to acquire a new client than keeping one - this is why every churn hurts. The current environment is not great:
There are many reasons for this like market environment, post-covid, or market. We can't change these things. But we can choose how a business reacts.
The rest of the newsletter focuses on those actions.?
?? Only 3% of RevOps focus exclusively on Customer Success
New Business is key for every SaaS. It makes sense to focus on it. However, there is a clear problem that Customer Success does not get enough focus.
All functions are important. So, the 37% with equal focus is a great start. Best is even Jack Lewis 's comment to prioritize what matters.
领英推荐
We totally agree. The point of this Newsletter is that for most businesses, Customer Success should be the focus right now.
?? Customer Success - SaaS Life Raft in 2023
“In today's SaaS environment, customers are looking at their tech stack more critically than ever before. Tools like Sastrify are gaining in popularity, and are helping your customers get a consolidated view of their tech stack”.
That quote is from the ebook we shared earlier this year with Mick Weijers, the founder of Customer Success Snack.
The advice in it is still helpful today, maybe even more. Here's the link to the ebook .
?? Reduce Churn and Increase Upsell with Customer Data
Companies focus more at new business data than customer data. The data for Upsells or Renewals is there. But it has some problems: lower quality, sits with the wrong people, or hard to understand.
For a client, we made a setup using their data warehouse and created custom tool called "Renewals Calendar".
The impact:
Want to see how we did it? Check the case study .
Revenue Wizards is a hands-on Revenue Operations Consultancy founder-led through Series C companies. We provide support for B2B SaaS in their path to Revenue growth, GTM cost reduction, and profitability. We operate with an all-inclusive RevOps-as-a-Service model with fixed fees and month-to-month contracts. You can learn more about Revenue Wizards here .
Yauheni is Co-Founder and Revenue Operations Partner. You can follow him on LinkedIn ?? where he posts regularly with practical advice on building efficient RevOps teams and truly data-driven organizations.
Haris is Co-founder and Revenue Strategy Partner. Enjoys bringing strategy to life with RevOps.
I help startups hire great remote engineers | Founder @ Remote Crew
12 个月Interesting stats
Don't look at my featured link...
1 年seriously?? just 3%?? we gotta pump those numbers up!! loving your insights tho Haris! ??
?? Strategic Business Operations Leader ?? Creative Problem Solving ? Business Scaling ? Process Optimization ? Enterprise Technologies ? Proven results in building excellent customer-centric operations
1 年I agree! The three levers to grow revenue are 1) acquisition, 2) expansion, and 3) reducing churn. 2 and 3 are both focused on existing customers. In the subscription revenue model, we need to align our resources to the greatest upside. Plus acquisition can be costly and time-consuming.