4 hacks to help you reduce saas churn rates

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by iridize 4 Hacks to Help you Reduce SaaS Churn Rates

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Reducing customer churn is all about getting to the bottom of why SaaS customers are abandoning the service. How do we do that? A healthy, balanced combination of asking them, gathering the right metrics and giving them space when they need it. Here's how.

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Page 1: 4 Hacks to Help you Reduce SaaS Churn Rates

by iridize

4 Hacks to Help you Reduce SaaS Churn Rates

Page 2: 4 Hacks to Help you Reduce SaaS Churn Rates

Image source

iridize.com

Churn is the silent

SaaS killer.

While most SaaS BizDev strategies

focus on improving conversion rates,

customer churn is slowly eating away

at SaaS customer bases.

Page 3: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

It’s not so much about ditching the

Quest for the Conversion, as it is

about taking preemptive action to

reduce SaaS churn rate before your

business begins to look like the

revolving door to a department store.

Page 5: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Nobody likes lengthy feedback forms. That

is why the response rate for those is so

depressing. So don’t.

Pose one question at a time, space them

out over a period you find works best,

stress the answerer’s anonymity.

Page 8: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Most customers are

not UX experts, nor

are they versed in

software

implementation, user

interface issues or

navigation challenges. Image source: David Castillo Dominici @ FreeDigitalphotos

Page 9: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

So break it down for your customers –

explain what it is that they are being

asked to feedback: user experience,

customer experience, navigation, clarity

of instructions, customer support.

Page 11: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Mobilize your resources wisely – target

users who are exhibiting abandonment

symptoms:

Page 12: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

• decrease in logins

• lower micro-

conversions logged

• unsubscribe from

newsletters

• sudden decline of support requests

Use the Data, Luke

Page 13: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Consider using a

predictive analytics dashboards

to move past the need for analyzing

and straight to the

user-at-churn-risk bottom line

Page 15: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Ultimately, your ability to retain

customers depends on your ability to

offer the most competitive,

\worthwhile service.

More added value.

Page 16: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

So offer it.

Money IS an issue, so once you’ve

singled out users at risk of churn – offer

them a more attractive package. It may

not be THE factor, but it is A factor.

Page 18: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Inevitably, users will leave and some

will make it clear they are not

interested in further examination of

your platform. This may sound

counter-intuitive, but:

Back off a little.

Page 19: 4 Hacks to Help you Reduce SaaS Churn Rates

iridize.com

Keep track of your churned customers and

send them an update on new features/offer

new content several months down the line.

It certainly can’t hurt.

Patience, young padawan.

Page 20: 4 Hacks to Help you Reduce SaaS Churn Rates

Why Iridize Mobile? We Hope That Was Helpful!

Ask us more about ways to

reduce your SaaS churn rates

and improve conversion.

iridize.com