ProfitWell

NOVEMBER 15, 2019

Your subscription company should run like a well-oiled machine. Taking advantage of SaaS tools will help you accomplish this. So I’ll unpack some of our favorite tools that cater to certain needs—analytics, accounting, retention, pricing, and more. Will this tool uncover metrics I’d have otherwise not known?

Retention 56

Retention Pricing SaaS Payments Payment Methods 56

ProfitWell

MARCH 2, 2020

The subscription economy is built on relationships. Thinking proactively about how to build products that help customers achieve their goals is the best tool you have for building lasting relationships. Guiding people effectively through that journey helps them see the value your service provides at each step of the way.

Customer Success 72

Customer Success SaaS Payments Strategy Payment Services 72

ProfitWell

MARCH 24, 2020

The subscription model is booming. Almost everything is sold as a subscription, from socks to razor blades, and of course software. Without further ado, let's look at nine subscription-based companies absolutely nailing it in 2020. What is a subscription company? So why the subscription business model?

Subscription 72

Subscription Payment Features Payment Methods Payments 72

ProfitWell

APRIL 3, 2020

Daily active users is a key metric you should follow when you’re in the subscription business. Now some may say “active users” is a vanity metric, but almost all SaaS companies use this figure to measure their overall performance. Why is it important to measure DAU? When your DAU is high, it can be a great sign.

Technical Review 43

Technical Review Churn Subscription Payment Features 43

User Pilot

JUNE 11, 2021

Analytics tools help SaaS businesses generate actionable insights from the data they collect, which then fuels their decisions. In this post, we will break down the analytics software each SaaS business needs to understand their buyer and user personas, prospects, users, and revenue metrics & company health. Table of Contents.

Software Review 52

Software Review Software Social Media SaaS 52

ProfitWell

DECEMBER 6, 2019

Keeping retention high through product satisfaction. The key to product-led growth is keeping retention as high as possible, and churn as low as possible. To drive retention, we recommend freemium over a free trial. Measuring your growth through analytics. Measuring your growth through analytics. Referral rates.

Scale 68

Scale Development Team Review Traceability Software Review 68

ProfitWell

DECEMBER 9, 2019

From the rise of SaaS to the sudden glut of subscription boxes, the subscription business model has never been more popular. So much so that Gartner research predicts that in 2020, all new entrants to the software market and 80% of existing companies will offer some sort of subscription package. Prioritize retention.

SaaS Payments 61

SaaS Payments Payment Services Subscription Payment Features 61

ProfitWell

NOVEMBER 1, 2019

But after working with hundreds of SaaS companies, I've realized that the same advice applies for your retention rate as well. But just like avoiding the yeti is way more fun than restarting the game, boosting your retention is more fun—and way more valuable—than acquiring more customers. Align team incentives around retention.

Retention 56

Retention Strategy Underperforming Technical Team SaaS 56

ProfitWell

MARCH 25, 2020

We studied the levers—acquisition, retention, and monetization—of 512 SaaS companies. We found that monetization and retention have much higher revenue impacts than acquisition when considering the same level of impact across each growth lever. Retention capitalizes off of customers you already have. What is customer retention?

Acquisition 52

Acquisition Retention Payments SaaS Payments 52

Natalia Luneva

DECEMBER 17, 2020

Patrick Campbell is the CEO of ProfitWell (formerly Price Intelligently), the software for helping subscription companies with their monetization and retention strategies. ProfitWell also provides free turnkey subscription financial metrics for over twenty thousand companies.

Pricing 80

Pricing Strategy SaaS Software Review 80

ProfitWell

MARCH 24, 2020

2020 is the year of Corona Virus thus far but it’s also the year in which the subscription business model is excelling. Subscription companies have become incredibly popular in the past two decades. Almost everything is sold as a subscription, from socks to razor blades, and of course software. What is a subscription company?

Subscription 40

Subscription Payment Features Payment Methods Payments 40

ProfitWell

JANUARY 6, 2020

Finding product-market fit isn’t always easy though, so we’ll help explain exactly what it is, and the steps to ensure you find it. If you don’t have product-market fit, you could be advertising to the wrong buyer personas and attracting the wrong buyers, leading to higher churn and poor retention. What is product-market fit?

Product Marketing 52

Product Marketing Underperforming Technical Team Marketing Advertising 52

ProfitWell

AUGUST 11, 2020

We studied founders and CEOs from roughly 400 subscription companies to find out. To find out, we measured a founder net promoter score—which essentially assessed how likely founders were to recommend becoming a founder to other people. Research on retention (and why it's important). Back to the pillow talk.

Customer Lifetime Value 52

Customer Lifetime Value B2B Retention Churn 52

ProfitWell

NOVEMBER 12, 2019

A pricing audit assesses your subscription business’ pricing process to ensure consistency across similar accounts, maximize profitability, and benchmark against other companies. Conducting a pricing audit goes through five factors—acquisition, monetization, retention, pricing strategy, and discounts. Retention. Acquisition.

Payments 45

Payments Pricing Underperforming Technical Team SaaS Payments 45

ProfitWell

NOVEMBER 4, 2019

Mastering customer success is vital in the subscription space. Not implementing and measuring customer success means you risk losing customers and rising customer acquisition costs (CAC). Some direct outcomes—lower CAC, lower churn, improved customer retention, more cross-sells and upsells, and happier customers. Destroy Churn.

Customer Success 73

Customer Success SaaS Onboarding Churn 73

ProfitWell

APRIL 16, 2020

Your customers pay you to help them solve very specific problems. Customer support team members engage in a number of activities that help ensure customer satisfaction and improve business outcomes for your SaaS product. Help resolve customer problems - Customer support is an important part of the customer success equation.

Customer Success 59

Customer Success Acquisition Churn Software Review 59

ProfitWell

MARCH 20, 2020

What is revenue operations & why RevOps is crucial for subscription businesses. We’ve been talking a lot about revenue operations here at ProfitWell. Delighting the customer is what leads to success and that success is seen via retention and expansion. RevOps and retention. The leader. The outcome of united RevOps.

Business 59

Business Sales Funnel Customer Success Pricing 59

ProfitWell

APRIL 10, 2019

Now go hug your own and educate them with subscription. ProfitWell Report: the Future Is Freemium The latest ProfitWell Report is up, and this time Neel brings in CEO of Webforum, David Björk, to talk freely about freemium. Our ProfitWell cohorts studied 1k SaaS and subscription companies to break it down.

Payment Features 49

Payment Features Churn Subscription Acquisition 49

OpenView Labs

SEPTEMBER 13, 2019

And allocating additional resources toward your customer’s long-term success pays huge dividends – improving retention by just 1% affects a company’s bottom line by around 7%. The prototypical company with a Customer Success team is a high-priced subscription business with 12–24 month contracts. Impact on Customer Success teams.

Customer Success 43

Customer Success Revenue AWS Retention 43

Baremetrics

JANUARY 24, 2021

Anyone managing a SaaS or subscription business is aware of customer churn. This is when the good stuff starts to happen within a subscription business In this post I’m going to share the strategy and steps we followed to reduce our monthly customer churn by over 70%, and explain how we positioned Nudge Coach for efficient, long-term growth.

Churn 71

Churn SaaS Payments Payment Methods Payment Solutions 71

SmartKarrot

JULY 8, 2020

Moreover, unlike a regular software company, SaaS businesses are subscription-based and thrive on their ability to retain existing customers. This, in turn, requires you to track various metrics to boost customer retention and maximize revenue. . Otherwise, you’ll just be tracking metrics that aren’t relevant to your business.

Metrics 10

Metrics SaaS Churn Customer Lifetime Value 10

ProfitWell

SEPTEMBER 26, 2019

This knowledge helps you predict how any price adjustments will impact your customers as well as your business. Price elasticity is a measure of how sensitive your customers are to variations in the price of or demand for your product. This understanding helps you leverage that power to help your business.

Pricing 49

Pricing Scale Social Media Branding 49

SaaStock

MARCH 20, 2019

Bringing them together, we will help them and learn from them in equal measure. Collibra provides a cross-organizational data governance and catalog platform that helps companies maximize the value of their data. Toast ’s all-in-one point-of-sale (POS) and restaurant management platform helps power and grow restaurants.

SaaS Payments 271

SaaS Payments Merchant Services Payment Solutions Payments 271

ProfitWell

MARCH 23, 2020

There are a few key metrics that all subscription businesses should be completely on top of. Think of these metrics less as numbers on a screen and more as indicators of business health. Churn is the make or break of your subscription business. Stay on top of retention by tracking your customer churn rate.

Subscription 85

Subscription Payment Features Metrics Business 85

ProfitWell

FEBRUARY 4, 2020

RevOps is a centralized function that helps recognize and align revenue from sales, marketing, and customer success. MRR is the best way to start measuring revenue but as you grow, different metrics will come into play. They will help align teams and all the different metrics. Key takeaways. Michael Klett.

CTO Hire 98

CTO Hire Sales Hiring New CTO CTO 98

ProfitWell

AUGUST 19, 2019

Customer retention is king for any subscription business. That's why understanding your retention rate is so important. Here’s why retention rates should be top of mind for your SaaS business and why you should be calculating retention often. What is retention rate? Why is retention rate so important?

Retention 92

Retention Subscription Payment Features Benchmarks 92

ProfitWell

MARCH 11, 2020

But creating customer retention strategies requires a deep understanding of your retention issues. We're about to go diving for metrics. Why you need to understand your customer retention metrics. That's what metrics give you. How is customer retention measured? How fast is it happening?

Retention 52

Retention Metrics SaaS Payments Underperforming Technical Team 52

SaaStock

MARCH 20, 2019

Bringing them together, we will help them and learn from them in equal measure. Collibra provides a cross-organizational data governance and catalog platform that helps companies maximize the value of their data. Toast ’s all-in-one point-of-sale (POS) and restaurant management platform helps power and grow restaurants.

SaaS Payments 100

SaaS Payments Merchant Services Payment Solutions Payments 100

ProfitWell

APRIL 30, 2020

Customer loyalty is the essence of subscription businesses and a key lever of growth. Building a strong customer base, with users who are loyal to your brand, will help you in the long-term, and when things unexpectedly go south (like a global pandemic). Building customer loyalty is a huge factor in terms of retention and renewal.

SaaS Payments 52

SaaS Payments Payments Payment Methods Payment Services 52

ProfitWell

JANUARY 3, 2020

It’s a momentum metric. Throughout this article, I’ll explain the differences, how to calculate, and some other metrics you should also be tracking. ARR reveals how much recurring revenue you can expect based on yearly subscriptions. Since ARR is a momentum metric, it has to remain as pure as possible. Add-on purchases.

Customer Lifetime Value 54

Customer Lifetime Value Scale Churn Subscription 54

ProfitWell

MARCH 6, 2020

One way to unlock growth through revenue enhancement is with your pricing—something we know a thing or two about here at ProfitWell. Why revenue enhancement is crucial for subscription businesses. Revenue enhancement can help accomplish this. High CAC can ruin a subscription business’ profits. I’ll unpack a few.

Payments 52

Payments Revenue Subscription Payment Features 52

ProfitWell

MARCH 6, 2020

One way to unlock growth through revenue enhancement is with your pricing—something we know a thing or two about here at ProfitWell. Why revenue enhancement is crucial for subscription businesses. Revenue enhancement can help accomplish this. High CAC can ruin a subscription business’ profits. I’ll unpack a few.

Payments 52

Payments Revenue Subscription Payment Features 52

ProfitWell

DECEMBER 4, 2019

SaaS, or software as a service, is a delivery model in which a centrally hosted software is licensed to customers via a subscription plan. The software-as-a-service business model involves providing a subscription service, so you will have to worry about getting payments every month/year as opposed to only once. Recurring payments.

Business Model 54

Business Model SaaS Payments Payment Methods Payments 54

ProfitWell

SEPTEMBER 25, 2019

Before we dive into how you can increase your renewal rate and level up your revenue, though, let’s take a quick refresher on what your renewal rate is and why it’s so important to measure. In a nutshell, your renewal rate measures the percentage of customers who renew their subscriptions at the end of each subscription period.

SaaS Payments 45

SaaS Payments Payment Services Payment Solutions Payments 45

ProfitWell

OCTOBER 2, 2019

When it comes to measuring retention rate alone, there are dozens of different metrics that startups use. Churn prediction uses big data to detect customers who are likely to cancel their subscriptions and is used by most of the large subscription businesses to identify customers most at-risk of churning.

Churn 61

Churn Payments SaaS Payments Payment Solutions 61

ProfitWell

JANUARY 3, 2020

It’s a momentum metric. Throughout this article, I’ll explain the differences, how to calculate, and some other metrics you should also be tracking. ARR reveals how much recurring revenue you can expect based on yearly subscriptions. Since ARR is a momentum metric, it has to remain as pure as possible. Add-on purchases.

Customer Lifetime Value 10

Customer Lifetime Value Scale Churn Subscription 10

ProfitWell

APRIL 3, 2020

Subscription businesses face a variety of challenges unique to their specific model. These businesses need to emphasize (and analyze) certain metrics that other, more traditional businesses often do not. Successfully financing a subscription company involves the use of specific metrics and accounting methods. Churn rate.

Finance 52

Finance Subscription Payment Features Venture Capital 52