September 24, 2019 Stewart Marshall

GIVE YOUR CUSTOMERS THE ★★★★★ TREATMENT

#SAAS vendors make subscribing to their platform easy

But too many make it EASY TO LEAVE!

A monthly churn rate of ~2% means they’re replacing 1 in 4 customers every year

And replacing them is as much as 25X the cost of keeping them

Think how much they could save on marketing!

So much more to spend on development of the platform, right?!

NOPE!

More to spend on building their ECOSYSTEM

Because that’s what they’re selling

Once they’ve built their platform, they’ve addressed most of their customers’ immediate needs

Yes, they need to keep evolving, adding new features and updating the aesthetic

BUT…

IF WE’RE LOOKING AT THE TECHNOLOGY WE’RE MISSING THE POINT

New features might attract a few new customers

They might convince some not to leave

But it’s software as a #SERVICE

They need to do BOTH well

Their platform may be brilliant

But without good help, education and high quality post-sale support, it may remain a mystery to their customers

And IF THEY CAN’T PLAY, THEY WON’T STAY

#SAAS should be like top hotel

Great rooms, fantastic food, excellent activities and superior service

Get them all right and guests will pay a premium for the experience

And they may just come back year after year


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