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Using customer analytics to increase saas revenue

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Using customer analytics to increase saas revenue

  1. 1. Customer Analytics toIncrease SaaS RevenuesGuy Nirpaz, CEO &
  2. 2. SaaS Model Characteristics
  3. 3. Characteristics of a SaaS BusinessFind & Run Model – SaaS should be easily found („get found‟) – No physical barriers to value realizationSmooth Customer Experience – Frictionless customer engagement processes Customer Driven Model – User DrivenSelf – Service… – Evaluation… – Pace…
  4. 4. The Financials…CLTV > CACCustomer Success Marketing & Sales
  5. 5. Majority (87%) of SaaS executives regularly track “CAC related” 1 metrics, with a large percentage (58%) adding or planning to add tracking of “CLTV related” metrics in the next year. Executives at SaaS companies regularly monitor the following metrics: 59% 54% 56% 56% 44% CAC Related CLTV Related Website Unique New Signups Conversion Rate Life Time Value Churn Rates Visitors (Trial to Paying) Plan to track in the next 12 month: 58% 19%5 CAC Related CLTV Related
  6. 6. Customer Engagement CycleMeasure Cust. Analyze Business Proactively Engage Engagement Context
  7. 7. Grow Conversion Rates
  8. 8. SaaS Sales ModelsNo Touch No sales team. Customer self-service37Signals Yammer MailChimpLow Touch Inside sales team + Inbound marketingZendesk Hubspot BoxHigh Touch Enterprise salesJive software Taleo PanayaHybrid Models Mix & match
  9. 9. Low Touch Sales - RealityHigh volume of leadsFrom Inbound marketing activitiesHigh rate of low quality leads75%+ is not uncommonShort staffed teamSales-rep responsible for hundreds of new trialsFocus on opportunities that matterUse conversion data to drive contact priority
  10. 10. 3 Things to look at… Conversion RateOverall 2.4% 282 out of 11,332 Signup (11,332) Actively Evaluating Converted (282) a (2,136) Conversion RateActivelyEvaluating 13.2% 282 out of 2,136
  11. 11. Considerations…Calculate conversion after accountshad enough time to convert Signups• Time-based: after trial period passed (11,332)• Freemium: (more complicated) A] understand mean conversion time B] conversion analysis by cohort Actively Evaluating ConvertedWho is “Actively Evaluating?” (2,136) (282)• Demonstrating “buying intent” by trying out the SaaS offering• Measuring can be tricky: A] Return visits B] Activated account C] Specific functionality used
  12. 12. Conversion Signals Conversion RateEntire Population 2.4% 2.4% of ALL trials in May converted (282 out of 11,332) 282 out of 11,332 A smaller segment of the population (2,136 trials) showed a Conversion Rate much higher conversion rate (13.1%). These are all the trials that were active on the service for at Evaluating 13.1% least 2 days. Nearly all converting trials (281 out of 282) exhibited this 281 out of 2,136 behavior Had more than 2 days of activity Conversion Rate An even smaller segment (309 trials) had a much higher Hot 29.7% conversion rate (nearly 30%) These are all trials that had 3 users join the trial account 92 out of 309 during the first 3 days of trial 3 users or more in first 3 days of trial
  13. 13. Who to contact? Who has the team contacted? Contact Rate Hot TOP PRIORITY Your best chance to make a sale! 41% Goal: 100% 129 out of 309 Contact Rate Evaluating HIGH PRIORITY 33% Goal: 100% 799 out of 2,136 Ideal contact target Contact RateEntire Population LOWER PRIORITY 19% 2,179 out of 11,332 Team‟s capacity
  14. 14. Ensure Customer Success
  15. 15. Customer Success - CLTVShorten Time to ValueIncrease Customer LoyaltyReduce chances of churn
  16. 16. Segment Based on MaturitySegment by MaturityNew Accounts – Minimize time to value – Ensure successful initial implementation – Monitor Growth and Expansion – TrainingMature Accounts – Ensure on going value – Exposure to new functionality – Sustained engagement – Look for growth opportunities
  17. 17. Examples
  18. 18. Constantly Increase Value
  19. 19. Higher Engagement = Higher ValueWhat product features are used the most? – Break down by account segment (free, basic, premium) – Break down by lifecycle/maturity (trial, onboarding, established)Proactive outreach to accounts with decline orincrease in usageDeep diagnostics into product area that are notresulting in engagement – Broken UX? Lacking documentation? Low value? – Supplement measurements with customer interviews (qualitative data)
  20. 20. Trial Onboarding Diagnostics: Example Entire Population 15.5% 621 out of 4,002 Conf. Basic Conf. Advance Invite Team Settings Settings Members 20.5% 549 out of 2,675 8.5% 216 out of 510 34.4% 262 out of 760 50% 35% 21%5%+ conversion when going 7%- conversion when going x2 conversion when invitingthrough basic config, but only through advanced config. team!50% of accounts do it. Improve UX Improve UX Optimize UX flow Hide functionality post-trial Tutorial / Marketing
  21. 21. Questions?
  22. 22. Contact Me Guy Nirpaz Email: Follow: @guynirpaz Skype: guy.nirpaz
  23. 23. Thank You!
  24. 24. TotangoSignup: