Retention what, why & how
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The document discusses the importance of customer retention in SaaS, highlighting its impact on revenue and business success. It outlines key metrics such as churn rate, customer acquisition cost, and customer lifetime value, and emphasizes the need for effective onboarding and data-driven feedback to minimize churn. Various tools and strategies are recommended for improving engagement and retention across different customer segments.
Retention what, why & how
- 1. Retention in SaaS What, Why & How Prashanth H N Product Head, Knowlarity Communications
- 2. M E E T Super Receptionist Knowlarity’s cloud based Plug N Play Contact Center Suite
- 3. We fix business communications problems using Super Receptionist Dial 1 Welcome Message Call connected to extension defined by you Dial 2 Calls your business phone SMS + Email Receive notification Listen to call Custom messages - Advertise, Promote, Product info, Support etc. Email Customer Sales Voicemail
- 4. Lesser wait on calls Big Brand feel For Your Consumers One number for life Delightful experience - Many ways of connecting with you For Businesses Big Brand Image for your business! Never miss a business call! Record customer calls!Real Time & fast engagement! Benefits both the business and the consumers
- 5. Retention in SaaS What, Why & How
- 6. 1 - 1 + 1 = 1
- 8. Key Terms CAC Customer Acquisition Cost Churn Rate LTV/CLV Customer Lifetime Value CAC Payback Must read: Practical guide to SaaS Metrics
- 9. 4 Main Reasons for Retention Satisfaction Delight Success Switching Costs
- 10. Customer Value CLV = Margin * (1+r)/(1+i-r) - CAC Levers for Increasing CLV ● Margin ↑ ● Retention Rate (r) ↑ ● CAC ↓ Retention is the most influencing & scalable factor Practical Approaches to calculate CLV Link1 Link 2
- 11. Sales gives just 30% Retention brings 70% Image Source
- 12. Retention & Valuation Image Source
- 13. How to attack Feedback Data Driven Segment & Serve Tools
- 14. Feedback ● Customer Surveys (various phases) ● Customer Support ● Product Metrics ● Sales/Success ● Customer Interviews ● Social Media
- 15. Why churn? (Data) Too less information to take any action Source: Churn analysis by Janardhan Prasad
- 16. Why ? Again Break it down further, now getting somewhere Source: Churn analysis by Janardhan Prasad
- 17. Why ? Again & Again ● Stability ● Need Training Finally Top Reasons ● No onboarding ● Late onboarding ● Not linked with business listing
- 18. When Churn Happens ? (Data) Why 12 & 15 ? Source: Churn analysis by Gaurav Lakhani
- 19. Predict churn with Data Alerts based on Behaviour # ● Number of sessions ● Number of Calls ● Time spent per session ● Usage across months ● Usage against similars For Sure High Low # A mathematical formula with combination of these attributes
- 20. You cannot improve what you cannot measure Good discipline for Data ● Usage Drill down ● Always updated Customer Information ● Granularity & segmentation on feedback ● Link them all (Overwhelming :O ) ● Benchmarked v/s Actual ● Periodic review & Actions
- 21. Segment & Serve Spend on these customers Grow these Customers Focus on Cost Fire Them? Servicing cost All Customers are not Equal Credits: Prof. Sundar Bharadwaj
- 22. Segment Demographic Geographic Verticals ● SMB ● Enterprise ● Strategic Focus ● India ● Southeast ● EMEA ● e-commerce ● realestate ● Startups
- 23. Only You know your customers best # ● Engagement ○ Product driven ○ People, events, success ○ Training ● Product ● On-boarding ● Payments What drives retention? # This is what works for us, you need to narrow down to your Top 4
- 24. Support ● Channels: Chat, Phone, email, Social media ● Tools: Superreceptionist, Freshdesk, Zendesk, Desk, Intercom, Snapengage, Live chat, Freshdesk Chat, Zendesk Chat Tools Engagement ● Channels: Chat, Phone, email, Social media, webinars, events ● Tools: Superreceptionist,, Intercom, UserEngage, Resend, Jet link, mailchimp, Hangout Air
- 25. Up sell/Cross sell ● Channels: Chat, Product, Phone, FOS ● Tools: Superreceptionist, SugarCRM, Zoho CRM, intercom Tools more... Onboarding ● Channels: Phone, product ● Tools: Whatfix, Hopscotch, WalkMe
- 26. Usage Data ● Channels: Product, Support, Integrations, mentions ● Tools: GA, Usage logging (DB), Mixpanel, CrazyEgg, Lucky Orange Tools more... Data Analysis & Dashboards ● Tools: Metabase, Google Sheets, Google Data Studio, Quicksight
- 27. SuperReceptionist Integrations & APIs Integrate telephony with any tool with the out of the box integrations or simple & powerful APIS