6 Ways To Address COVID-19 Churn in the Software as a Service Industry.

eMacity Leads • September 4, 2020

1. Find out why customers are cancelling.

The very first thing you need to know to reduce churn is find out why customers are cancelling. What are the main reasons? Can these reasons be prevented?

2. Create an attractive onboarding process.

When customers sign up for a service, does a company just leave them to set everything up on their own? Or do they proactively guide users to get the most from their subscription?

3. Build a customer loyalty program.

We all know that one person who is loyal to a specific brand. The one who wouldn’t dare wear a pair of Nike's out of their loyalty to Adidas, or the person who refuses to go to any other grocery store except the Carrot.

4. Analyze churn by customer segments.

One of the biggest challenges with reducing churn is just figuring out where to start. Do you have a lot of cancellations for your lowest price tier, while your enterprise customers stick with you long term? Figure this out quickly and be as proactive as possible.

5. Listen to your customers and document everything.

When a customer complains or gives feedback, it’s a sign that they want to use your product. They just have an issue, or a suggestion for something that could make your product better and increase their chances of sticking with you. Did you write that down?

6. Recover failed payments.

Have you ever wondered how much money you're losing out on when your customers credit card payments don't go through? Well, I got curious and decided to find out. I looked at our entire customer base and compared the amount of failed charges to their MRR. I found that on average, SaaS and most subscription companies lose about 9% of their MRR due to failed payments. That appears to be normal so accept that, anything higher is a concern.

SaaS Companies Cannot Be Evaluated By Traditional Performance Metrics.

By eMacity Leads • September 4, 2020
Account health & user engagement needs to be monitored closely ®gularly, as lack of user adoption can lead to churn. SaaS companies also need to monitor several different types of metrics that reflect how well the software is being used after the subscription begins.

Cost Per Acquisition

By eMacity Leads • April 27, 2019
("CPA") is defined as the cost you incurred for every acquisition you made. Acquisitions can vary from case to case, an example of an Acquisition can be a lead or sale. The formula for CPA is Total cost of (Sale) / total number of leads recorded (Visitors, Opens, Clicks, Form Submissions, Trials, Demonstrations, etc), i.e. CPA = Total Cost / Total Number of Leads. For a lead based account you need to consider 'Converted Clicks' as the total number of leads in the formula and for online orders you need to consider 'Conversions' while calculating the CPA. As mentioned above CPA can be calculated at various levels right from campaigns to the keyword. And it is always a good practice to look at all of these levels to understand if your campaign / outbound effort is profitable to you (or not). To calculate CPA, you'll need to take cost and divide it by conversions. If you want to know the cost per converted click (as opposed to cost per conversion), you will take the cost and divide it by converted clicks.

What is Marketing Automation and How Does It Help?

By eMacity Leads • April 21, 2019
Marketing automation is the process of using software to complete repetitive marketing tasks designed to nurture sales leads, personalize marketing messages and content and in the process, save marketers’ time and effort.

4 Notable Conversion Rate Optimization Trends

By eMacity Leads • August 9, 2018
Conversion rate optimization is no different than any other marketing arena in the sense that the field sees its fair share of trends each year. These trends involve new and improved ways to engage audiences and enrich their experiences in the marketing funnel.

How Much Should You Allocate For Your Marketing Budget in 2018?

By eMacity Leads • July 20, 2018
Are you planning your marketing budget for 2018? It may be a little late in the year, but we understand that you’re swamped with other things, so we’ve put together statistics about marketing spend trends to give you a better understanding of how you should allocate your budget for 2018.

Technology Startups: United States vs China

By eMacity Leads • June 25, 2018
Only time will tell how many US tech startups cede to their China counterparts. One thing is clear: The Chinese tech scene is hell-bent on success. Silicon Valley could learn a few things by looking east.

How to convert more TRIAL users to PAID with better onboarding

By eMacity Leads • May 7, 2018
Most of the founders that I've spoke to told me: "This looks awesome, but how can this help with high ticket Enterprise sales?"

6 Reasons Why You Need To Be Embracing Technology!!!

By eMacity Leads • March 6, 2018
If you feel that you’re falling behind, or might want to try something new?

Panda, Penguin, Pigeon, Hummingbird ... These are a few of Google’s ongoing algorithms.

By eMacity Leads • February 5, 2018
You can think of them as the ‘recipes’ Google uses to sort through the billions of web pages and other information it has, in order to return the best results. While it may be confusing to some, our job is to know firmly what this all means. It is our commitment to you as a client.

7 Technologies that are Transforming the Customer Experience Landscape

By eMacity Leads • January 2, 2018
On our hyper-competitive landscape where today’s media darling is tomorrow’s one-hit wonder (Crocs anyone? How about TiVo or Boston Market?), the importance of delivering positive customer experiences — and sustaining this momentum over the long-term — is not just a question of success: it is a matter of survival. Indeed, research groups like Walker Information predict that by the year 2020, customer experience will surpass price and product as the single most influential brand differentiater.
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