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accelerate revenue Best Practices boost retention Customer Engagement customer lifecycle customer lifetime value Customer Loyalty Customer Retention & Churn free to paid users free trial increase conversion j.d peterson Lifecycle Marketing lifetime value SaaS Marketing User Engagement webinar zendesk

6 Surefire Tips to Retain & Grow Customers

Totango-Zendesk Webinar-Slides Print Screen

Just a short while ago, I was co-presenting a webinar with J.D Peterson, VP Product Marketing of Zendesk.

In the webinar I gave 3 tips on how we accelerate revenue throughout the customer lifecycle and how to drive conversion from free to paid users, grow the lifetime value of the existing customers & boost retention!

Zendesk, which is one of Totango customers, is using Totango to find out how people who are trying their product or already existing customers are actually using it and how engaged are they with their product.

J.D. from Zendesk, was covering the other 3 steps, to complete the process of building customers loyally, form the customer-service and support angle.

Here are Totango slides from the webinar – please feel free to share or embed them in your website/blog:

View the Complete Zendesk-Totango Webinar

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accelerate revenue appboxjs Customer Engagement customer lifetime value customer retention Customer Retention & Churn customer success engine yard increase conversion PR

Totango Accelerates Revenues for Engine Yard Customers

Engine Yard Logo

The Totango team is excited to announce its participating in the Engine Yard’s add-ons program.
Engine Yard is the leading Platform-as-a-Service (PaaS) provider. Totango provides Engine Yard’s clients a way to better monetize their applications by driving customer engagement and boosting conversion, retention and customer lifetime value (Read Press Release).

Once Engine Yard’s customers have developed an application, attention rapidly shifts to monetization. Totango can accelerate revenues for new and existing applications by providing real time visibility into customer behavior and automating personalized sales and marketing campaigns based on these behaviors.

Totango also announce 2 new developer tools:

  1. The Appbox.js – which is a free javascript tool to communicate with customers from inside the application. Try it free now!
  2. Totango API for iPad and iPhone applications – which is an app that allow you to easily instrument your iPhone and iPad applications with Totango, making it easier than ever to see how users are engaging and interacting with your mobile apps. In addition to iOS, Totango provides integration packages for all common programming languages including, but not limited to PHP, C#, Java, JQuery, Ruby, Javascript and Python.

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Best Practices Business Insights CAC cltv conversion rates Customer Analytics Customer Engagement customer success increase conversion increase SaaS revenues RC-SaaS Customer Analytics Reduce Churn SaaS business saas low touch module saas models

Using Customer Analytics to Increase Revenues of SaaS Business

Presentation: Using customer analytics to increase saas revenue

This week I was attending the Business of Software Workshop talking about Using Customer Analytics to Increase Revenues of SaaS Businesses.

I’ve shared the presentation I’ve used in the workshop in which I discussed:

  • Characteristics of the SaaS business
  • How CLTV (represents Customer Success) should be higher than CAC (represents Marketing & Sales)
  • The Customer Engagement Cycle
  • Grow Conversion Rates
  • A case-study on the SaaS Low Touch Module which shows how to focus on the converting opportunities and create priorities in order to increase conversion, reduce churn and enetually increase revenues for a SaaS business
  • Ensure customer success (CLTV)

Can you implement those important tips in your SaaS business?

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acquisition cost Best Practices conversion rate increase conversion metrics paid account paid user qualified leads sales team trial conversion

Making the Most of Your Metrics – Part 2

Understanding data to increase conversion rates and key business processes

 

Last week, we established the need to measure the “right things” constantly in order to improve trial conversion. This week, we’ll discuss how those metrics can be used to actually improve your company’s trial conversions.

Trial conversion comes from multiple business processes: from sales, to marketing, to the product itself. In order for metrics and collected data in general to be valuable to your company, they must be actionable and this will mean different things to different aspects of a SaaS business.

Sales

For sales teams, it’s all about focusing on opportunities that matter most in your business pipeline. For the majority of SaaS sales teams, there are many more leads than the team can effectively handle. The team needs to be able to focus its energy on those that are more likely to convert into a sale.

Once you are working with reliable conversion rates and have eliminated the noise in the funnel, your sales team can use the same process to prioritize its work. Rather than contacting, qualifying and trying to convert all new trials, they should focus on those that appear to be “Actually Evaluating,” as those provide a much more likely sale.

Marketing

One of the key challenges for the marketing teams of a SaaS company is the need to properly qualify leads. The nature of Internet marketing is essentially casting a wide net into the unknown and trying to engage with as many people that are relevant to what you have to sell. The reality though is that you end up also engaging many that are not really relevant to your offering. Understanding the ratio between these two groups is essential to figuring out which marketing efforts are effective for your business. The ratio between effective (i.e.. “Actually Evaluating”) and total leads represents this exact number. This ratio is essential when determining if your marketing strategy is working and if your budget is well spent.

The ratio number will naturally vary by industry, but you need to make sure it’s under control, i.e. the number of qualified leads should constantly be growing; this will essentially lower acquisition costs (a fundamental parameter in business sales of a SaaS company).

Product

People that signup to your trial are primarily there to experience your product and assess it if fits their needs, and they expect to be able to do that quickly and with minimal effort on their behalf.

That means, someone who comes into the trial immediately gets it, is productive in attempts to evaluate product, has all the information they need, and the product’s general usability and experience is of high quality.

How to improve the product experience for your customers is something your product team needs to constantly assess (see “Getting your prospects to be come devoted users” provides solid ideas). But the key metric they should use to determine if they are making progress is conversion rate. What percentage of qualified leads ends up activating they account, using it and eventually upgrading to a paid account.

Summary

Data, when correctly measured and broken down into proper categories, becomes valuably actionable. Keep in mind that this activity is not a one-time effort; it has to be ongoing and continuously improved. The business needs to be able to measure data effectively, get the information in front of the right people at the right time, and constantly improve those metrics based on their true meaning.

Next week we’ll jump into understanding marketing automation, BI, analytics, and CRM.

To learn more about Trial Conversion please View our Webinar where we discuss Best Practices in Measuring Trial Conversion Rates for SaaS Applications:

 

About TOTANGO:

TOTANGO analyzes in real time customer engagement and intention within SaaS applications to help you grow your business

 

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