ProfitWell

NOVEMBER 15, 2019

Taking advantage of SaaS tools will help you accomplish this. There are hundreds of SaaS tools online that will help your business increase retention and decrease churn. Retain subscribed customers: Unlike other businesses, SaaS businesses rely on customers paying monthly or yearly for their subscription.

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Retention Pricing SaaS Payments Payment Methods 56

ProfitWell

MARCH 9, 2020

But how can these businesses convert customers for the long-term? And how does subscription marketing differ from marketing for a more conventional selling model? This involves a different approach to marketing, as the goal is to acquire customers and retain them long-term for repeat purchases. What is subscription marketing?

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Subscription Payment Features Payment Methods Marketing 64

ProfitWell

MARCH 24, 2020

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? A subscription company is a business that sells their products on a scheduled time basis.

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Subscription Payment Features Payment Methods Payments 72

ProfitWell

MARCH 2, 2020

Thinking proactively about how to build products that help customers achieve their goals is the best tool you have for building lasting relationships. Building a solid customer success strategy is easy, too, as long as you focus on how different types of customers move through their journey, from discovery to purchase.

Customer Success 72

Customer Success SaaS Payments Strategy Payment Services 72

ProfitWell

OCTOBER 18, 2019

So what if we told you there was a way to predict, at least to some degree, how and when your customers will cancel? Building a predictive churn model helps you make proactive changes to your retention efforts that drive down churn rates. A churn model is a mathematical representation of how churn impacts your business.

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Churn Retention SaaS Payments Payment Services 67

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. How to calculate daily active users. When your DAU is high, it can be a great sign.

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Technical Review Churn Subscription Payment Features 43

ProfitWell

JULY 23, 2020

As the COVID-19 pandemic and quarantine forces brands to get creative with how they distribute products, many have turned to the DTC model. I’ve compiled a list of certain DTC metrics that should be on your radar at all times. 9 most important direct-to-consumer metrics. Customer LTV. Conversion Rate. Average Order Value (AOV).

Payment Methods 56

Payment Methods Metrics SaaS Payments Customer Lifetime Value 56

ProfitWell

SEPTEMBER 16, 2019

While both Hiten and I are big proponents of freemium, it’s definitely not the easiest business model to work with if you don’t understand how to make it work. And if you want to learn more about the history of freemium and how it impacts the economics of your business, check out The Freemium Manifesto. The Tradeoffs.

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Acquisition Revenue Scale Retention 99

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. Meanwhile, product teams are busy tracking how many features they've delivered and story points they've completed. But every so often, you’d discover a strategy that got you just a little bit farther.

Retention 56

Retention Strategy Underperforming Technical Team SaaS 56

ProfitWell

JULY 24, 2020

In this post, we'll talk about ways you can find the perfect price point for your DTC product and how the power of business intelligence can help. Direct-to-consumer vs. wholesale & retail pricing: how are they different? We've talked about what the market will bear, but how do you determine what that amount is?

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Pricing Business Model Machine Learning Artificial Intelligence 72

ProfitWell

AUGUST 11, 2020

I don't want to lose the idea, so I get up and get back to work. We know many of you work hard. We’ll first look at how hours of sleep per night impact growth rates—then we’ll look at how hours of sleep per night impact founder happiness. Aside from company growth—how does sleep impact founder happiness?

Customer Lifetime Value 52

Customer Lifetime Value B2B Retention Churn 52

ProfitWell

APRIL 28, 2020

Many companies are now switching from a perpetual licensing model to subscription-based licensing. This pricing model can be a win-win for both the consumer and the business. This amount is significantly less than the perpetual license cost and opens the software up to more users. The perpetual software license model. Flexibility.

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Subscription Payment Features Software Pricing 54

ProfitWell

DECEMBER 9, 2019

To help you get started, we’ve put together a nine-step checklist that walks through how to create a subscription service. Analyze the metrics and evaluate your position. When you know where your company fits into the market, it helps you build products that potential customers actually need. Prioritize retention.

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SaaS Payments Payment Services Subscription Payment Features 61

ProfitWell

JANUARY 13, 2020

Finding an effective price helps you solidify your position, build trust with your customers, and achieve your business goals. Not only do you need to consider how much it costs to provide your service and acquire new customers, but you also need to set a price that reflects the value those customers get from it.

Pricing 52

Pricing Subscription Payment Features Strategy 52

User Pilot

DECEMBER 2, 2019

More and more SaaS companies are starting to realize how important it is, and so they’re investing more time and effort into it. Profitwell Retain. It helps your CS team to monitor how customers use your product. You can see how different groups engage with your product. There are a lot (and we mean a lot!)

Customer Success 69

Customer Success SaaS Payments Payment Solutions Scale 69

ProfitWell

MARCH 25, 2020

How do we know this? Simply put, customer retention is the ability of a company to retain its customers over a given period of time. Focusing on customer retention is important because it not only looks at how good a company is at acquiring new customers but also how good they are at keeping those customers.

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Acquisition Retention Payments SaaS Payments 52

ProfitWell

MARCH 20, 2020

We’ve been talking a lot about revenue operations here at ProfitWell. With these three teams working together, a business is able to optimize its sales funnel, collect more high-quality leads, and make more money. The work doesn’t end once a customer commits. Honesty and accuracy are essential when building a long-term business.

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Business Sales Funnel Customer Success Pricing 59

ProfitWell

MARCH 24, 2020

HubSpot’s main benefits range from it’s free CRM, how well all of it’s tools work together cohesively as well as the easy setup, and it cannot go unmentioned that HubSpot coined and championed the term “Inbound Marketing.” The 4 types of subscription businesses. The subscription business model is here to stay.

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Subscription Payment Features Payment Methods Payments 40

ProfitWell

NOVEMBER 12, 2019

A pricing audit will help set the metrics you are driving your growth toward—lifetime value (LTV), average rate per user (ARPU), conversion percent, and payback period. A pricing audit will look at how you’re retaining customers, why they’re staying, why your customers are churning, and if you’re missing core functionality.

Payments 45

Payments Pricing Underperforming Technical Team SaaS Payments 45

ProfitWell

APRIL 16, 2020

Your customers pay you to help them solve very specific problems. A customer support team is a group of your staff whose job it is to ensure that customers are being trained well on how to use your software and that they're not running into any issues that they can't find an answer to, quickly. What is a customer success team?

Customer Success 59

Customer Success Acquisition Churn Software Review 59

ProfitWell

MAY 1, 2020

In this post, we'll take a look at why onboarding is so important and how you can create a successful program for your SaaS company. A new user isn't familiar with your software and is going to need help figuring out the basics. As customers learn to do more without help, they'll contact your customer support team less often.

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Onboarding Metrics SaaS Underperforming Technical Team 59

ProfitWell

NOVEMBER 6, 2019

But before you do, let’s take a look at some of the basics of the subscription revenue model and why it works across such a wide range of businesses. What makes subscription revenue so powerful is how growth compounds over time. Customers don’t need to worry about how they’ll host the software or how they’ll keep it up to date.

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Payment Features Payments Subscription Revenue 74

ProfitWell

AUGUST 14, 2020

On top of the pandemic, the efficiency of the direct to consumer model is helping to further drive retail's shift to the internet. How is the direct to consumer model different from traditional retail? In this section, we'll take a look at how, and why, DTC sales got their start as a major force in business.

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Business Model Business Advertising Subscription 52

ProfitWell

NOVEMBER 4, 2019

To help you on your mission toward mastering customer success, I’ll break down what customer success truly means, what happens when you master it, and best practices to employ. The size of your customer success team is dependent upon a few factors, such as the size of your company and how large your customer base is. Destroy Churn.

Customer Success 73

Customer Success SaaS Onboarding Churn 73

ProfitWell

DECEMBER 13, 2019

We’ll tell you how to use your understanding of a prospect to turn them into a delighted customer, what metrics to lean on, and how to build the perfect SaaS sales team. It requires a certain magic to make it work. 4 metrics to know when selling SaaS. That’s why we’ve put this guide together. What is SaaS?

Scale 61

Scale Sales Recruiting SaaS Sales 61

User Pilot

DECEMBER 18, 2020

How should I bring the disengaged users back to my product? How to identify disengaged users. How to bring back disengaged users? Retaining disengaged users is much more cost-effective than acquiring new ones. If this question is keeping you up at night – it well should. Table of Contents. Who is a disengaged User?

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Engagement Strategy Underperforming Technical Team Social Media 98

OpenView Labs

MARCH 30, 2020

Before you know it, you can easily be submersed in wave upon wave of metrics and corresponding acronyms—customer acquisition cost (CAC), annual recurring revenue (ARR), annual contract value (ACV) and lifetime value (LTV), just to name a few. (Pro The problem is that there are dozens of metrics that can fall under the KPI umbrella.

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Benchmarks Technical Review Churn Scale 54

ProfitWell

JUNE 26, 2019

Nevertheless, dunning is a process you have to work at. Reach out and gauge the situation with the customer, and see if there’s any way for you to help. The term “dunning” sounds less than inviting (potentially why it's an overlooked process for many subscription businesses). Reasons credit card payments are declined. Keep it concise.

SaaS Payments 40

SaaS Payments Payment Services Payments Payment Solutions 40

OpenView Labs

JANUARY 29, 2020

Special thanks to Ned O’Leary and Laura Rosca who helped compile this research. . The much-discussed pricing strategy took over the SaaS world and helped fuel the phenomenal success of SaaS pioneers like Dropbox, Evernote, SurveyMonkey and Hootsuite. How to optimize your freemium model. Freemium in SaaS is old news.

Pricing 82

Pricing Payments SaaS Payments Payment Solutions 82

ProfitWell

OCTOBER 16, 2019

So how do you know what a healthy churn rate is for your SaaS company? So how do you know what a healthy churn rate is for your SaaS company? The fact that there’s no standard reporting method for churn doesn’t help. It’s the question on every SaaS founder’s lips: Is my churn rate too high? Let’s find out. customer churn rate).

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Churn SaaS Payments Payments Payment Methods 55

ProfitWell

SEPTEMBER 30, 2019

Because the world of e-commerce is so restless, as soon as your company finds itself bringing in steady revenue, the first question anyone will be asking is: How can we make this performance even better ? The data you focus on collecting for revenue optimization should center on what will help you with segmentation and forecasting.

Revenue 40

Revenue Pricing Outsourcing Services Merchant Services 40

ProfitWell

SEPTEMBER 26, 2019

That’s why understanding how much pricing power you have is so important. 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.

Pricing 49

Pricing Scale Social Media Branding 49

Baremetrics

JANUARY 24, 2021

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. Let me tell you how we did it! Table of Contents.

Churn 71

Churn SaaS Payments Payment Methods Payment Solutions 71

Intercom, Inc.

SEPTEMBER 2, 2020

With this shift in mindset, the key question becomes: “how can we measure the value of support and set metrics that drive meaningful change?” We talked with support leaders at several forward-thinking companies – including Zapier , Wistia , and InVision – to get insight into how their support metrics have evolved, and why.

Metrics 190

Metrics Scale Retention Churn 190

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

FEBRUARY 4, 2020

In this episode of RevOps and Hops we discuss what revenue operations is, how long it’s actually been around, and why it’s become so relevant today. RevOps is a centralized function that helps recognize and align revenue from sales, marketing, and customer success. They will help align teams and all the different metrics.

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CTO Hire Sales Hiring New CTO CTO 98

ProfitWell

FEBRUARY 26, 2020

It’s the leading indicator of your business’ health and key metric to determine its ultimate valuation. Not to mention acquiring new customers can be rather expensive yet retaining them well, it’s a lot cheaper. It helps businesses keep their customers, maintain revenue growth, and understand why and when customers are leaving.

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Payment Solutions Retention Payments Software Review 52