Pricing strategies have always been a hot debate. When it comes to converting consumers, the secret to SaaS sales is learning what your buyer wants to pay for and understanding consumer behavior. Emotions and psychological triggers influence purchasing behavior. If one understands these subtleties in the human mind, businesses can find creative ways to ethically motivate more buyers towards saying “Yes!” to their products and services.
The beauty of adopting a SaaS framework is that you have a vast scope of experimentation. For Statusbrew, small changes in various stages of our working helped us see astonishing results. Sharing what we learned in our journey from 20K to 100K MRR.
SaaS companies need to pay ultra-close attention to metrics that show their ability to attract customers at a reasonable acquisition cost, generate recurring revenue and retain customers. The three key categories for metrics can be defined as - Marketing, Sales and Customer Success.
Customer Success is a new discipline that brings together the business functions involved in post-sales processes in Software as a Service (SaaS) companies. The growth of a SaaS applications is driving an emphasis on product adoption, usage, and churn - because it’s easier than ever for the customers to switch services at the time of subscription renewal. Your best bet to avoid this is to keep your customers happy with your product. If they’re happy they’ll use it, renew it, buy additional products and provide insightful feedback. After all, it’s customers who keep the companies in business.