The Impact of Great Customer Service for SaaS Providers

A great product is not enough in the SaaS industry. You need great customer service to follow suit. From the moment a visitor qualifies as a lead until long after a prospect subscribes, your company needs to ensure your providing a stellar customer experience.

Failure to do so means your brand will lose out on one of the biggest competitive advantages in business – customer loyalty.

The effects of good customer service.

 

A study published in the Harvard Business Review looked at both a transactional business and subscription based business in order to measure the effects of good customer service. The first company found that customers who had the best possible customer experience were more likely to become repeat buyers, purchasing 144% more than customers who had the poorest customer experience. The second company, or the subscription based, found that users who had rated their customer experience as bad had only 43% chance of continuing their subscription for over a year, whereas users who had rated their customer service as great had a 73% chance of continuing their subscription for another year.

 

Making the experience better. 

When a prospect converts and subscribes to your software, your brand has their complete attention. It’s the first moment where a positive or negative customer experience can determine the length of a subscription and the repeat of a sale. Start by sending your new customers an email and personal thank you, directing them to guides and resources that will assist them on their journey.

Furthermore, ask if they need help or have any questions about the company or your software. You can even recommend products or services to add further value to their initial purchase. Most importantly, always ensure you’re giving the best customer support including services like responsive and efficient email support, live chat, and even a phone line to address urgent issues.

But don’t stop there. Provide something extra, something they won’t get from other companies. It can be a discount, a gift, even a t-shirt, so long as it enhances their experience and their opinion of your brand. Going above and beyond to make sure your customers are happy pays off through their loyalty, setting you a part from other SaaS providers and competition.

 

To learn how you can achieve the best possible customer experience that guarantees lasting loyalty, contact us and we’ll make it possible.


Cloud Computing Soon Used by The Pentagon: Why Do Companies Hold Off on Technology?

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Cloud computing is a technology that’s virtually revolutionized the storage of data and in how businesses potentially operate. But even the largest corporations hold off on technology that’s seemingly mainstream. The cloud is one piece of technology where even a few major government organizations have sat on the fence. The Pentagon is one surprising government source that’s shied away from the cloud as a major part of their data management.

This is about to change with reports The Pentagon will soon start using the cloud on a wider basis, even if there’s still worries about secure implementation. What’s kept major government organizations and even some corporations from using the cloud to their benefit? Most of this comes in misconceptions, especially through the media that sometimes paints the cloud as not a safe place for sensitive documents.

All of this has to change with a new sense of education about what cloud computing does and how it’s used.

Setting the Record Straight on Using the Cloud

Fear seemed to permeate in the corporate atmosphere late this last year when Apple experienced hacks through their iCloud that leaked private celebrity photos. This led to unfounded fears about how safe the cloud really is without realizing how careful monitoring would have prevented it. No matter what kind of technology you use, it’s easily abused when not managed right. It’s been the same with TV for years where many criticize the device rather than the content.

In truth, the cloud is the safest data storage technology out there, as well as a major cost-saver. The Pentagon is moving to the cloud for the same reasons, as well as realizing the efficiency it brings. Corporations locating a cloud provider with excellent management find out how much the cloud is a lifesaver when budgets need tightening and when disasters strike.

The cloud saves you money because it eliminates the extreme expense of running your own server. Then, when an unexpected disaster strikes, all your corporate data is still accessible in another location with an Internet connection.

In time, it’s going to serve The Pentagon well. It also can serve your corporation well through our own cloud solution here at MaxQ Technologies, Inc.

Contact us to find out more about cloud computing and why it isn’t necessary to ever have ambivalence about the cloud’s ability to make corporate life more efficient.

 


Five Demand Planning Mistakes That Could Cost You Money

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Investing in a good demand planning tool and using it to create accurate forecasts for your inventory is a great start. However, relying on an automated solution does not prevent you from making these common mistakes that could cost your business money.

  • Some businesses make the mistake of using demand planning solely to make their distribution channels more efficient. You will get more out of your investment if you rely on the data to optimize the production process as well. Demand planning can for instance be used to determine what your manufacturer should be producing.

 

  • Do not adopt a demand planning model that is too simplistic. Relying on an automated tool will give you access to detailed reports regarding demand but you should use this data to create a comprehensive inventory forecast. Take factors such as products, time and locations into account.

 

  • Failing to establish some best practices for demand planning could lead to incorrect data. Since inventory forecast tools gather data from several departments and business processes, make sure best practices are relevant for each department or process.

 

  • Use your demand planning tool to look for patterns that repeat themselves on the long-term instead of using it to create inventory forecasts that will be used no the short-term. Focusing on the short-term helps you deliver products on time but patterns allow you to improve business processes.

 

  • Do not optimize business processes too soon. Gathering relevant data takes time and it might be months before the reports created by your demand planning tool are comprehensive enough to be helpful.

 

Getting the most out of your demand planning tool requires you to become familiar with its features and with several concepts related to inventory forecasting. You can easily avoid these mistakes by working with the right demand planning software provider. You should contact us at MaxQ Technologies to learn more about the solutions we offer.


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3 Effective Tactics That Convert New Visitors Into Subscribers

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SaaS providers aren’t just selling a product, they’re providing a solution that benefits their customers and makes their lives easier. And customers don’t just randomly buy things; they do a large amount of research about a product or company before they ever decide to make a purchase.

So how can you convert this new breed of research savvy visitors into subscribers that leads to sells? By using these 3 effective tactics below.

Add Testimonials

Testimonials help visitors do their research. Many customers, especially in the B2B industry, want to learn how a product or service has benefited a similar company. Authentic testimonials are a kind of educated endorsement that showcases the benefits of your product or service without directly trying to sell anything.

As a result, new visitors become more interested in your product and further their research after reading how it benefited other users/companies. Furthermore, using testimonials or product reviews throughout your site will make your company seem more credible, leading to quicker sales or and more signups.

Limit Access

This may irritate some visitors but it’s a good tactic to make them subscribe. Limited access can be implemented in a number of ways from simple timers to content locking to software demos and free trials that only registered subscribers can access or see.

Quora is a great example of how limited access can effectively convert visitors into subscribers. After you’ve browsed a few threads and received answers to your questions, they block you from reading until you sign up and register. By limiting access to what they can do or see, you’ll compel them to subscribe and generate them as a lead.

Include CTAs

Providing information isn’t enough, you also need to compel new visitors to take some sort of action. Calls to action (CTAs) usually try to sell a product or service, but they can be used for anything including how-to guides, product demos, email newsletters, and interactive tools.

In fact, the most effective CTAs address a problem, further user education, and provide benefits for subscribing. For instance, you can use lead-gen CTAs that offer a free trial or demo alongside lower commitment CTAs to subscribe to a newsletter.

Once a visitor clicks to your site, you want to ensure you don’t lose them. You can automate CTAs to appear on the screen the moment they arrive to your website or you can have one pop-up if they decide to leave.

To learn about these tactics in depth and start converting more visitors into subscriptions today, contact us.

 


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Understand and Track User Engagement to Grow Your SaaS Business

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Customer engagement is key for your software-as-a-service – SaaS business. To understand how to successfully measure user engagement to successfully measure customer engagement, you first need to understand what engages users and how. In the SaaS environment, you achieve this basis of customer engagement by analyzing and understanding actions users take on your application and how they use it. Interpreting your customers’ actions and defining what they actually do in your application is not as easy as it seems. But we’re here to help!

 

A SaaS company must develop tools that will help its service measure customer behavior. These tools must be capable of answering key strategic and tactical questions to help evolve the product portfolio to engage current and future customers in deeper and richer ways. Questions you can take into consideration and use to assess customer behavior include:

  • Have the users tried the service multiple times?
  • How much time are users spending on your service?
  • Which features are customers using and how frequently?
  • Do they completely understand the value of your offering?

 

 

The basic metrics you can include to statistically analyze customer behavior include:

  • Performance latency
  • User productivity
  • Changes in usage frequency or duration
  • Search terms and actions
  • Conversion analysis for specific tasks
  • Analysis of leakage points and completion rates
  • Discoverability of features
  • Reduction in support costs or training.

 

SaaS provides continuous monitoring and direct measurement of customer interaction and engagement, but you have to identify key predictive indicators, or KPIs, plus track and dashboard this information for each customer. Let’s examine how the analysis of metrics can help in a specific situation, such as using frequency and length of use as KPIs of churn or advocacy. The first sign you are going to lose a customer is when they stop using Saas. An example would be a customer who has not logged in over a specific period of time, such as 30 days. Such a customer is a high risk of churn. By tracking and measuring this information, you can trigger an alert letting you know some action needs to be taken to avoid losing the customer.

Once you have real-time data monitoring in place, you can use it to conduct predictive analysis and identify individual churn risks and user preferences for profitable upsell and cross-sell opportunities. SaaS dashboards and predictive analysis can tell customer reps which activities will give them the biggest impact on financial results and which ones offer little value to customer engagement.

You can combine several key metrics, such as the amount of time your customer spent using the application, how often they visit, and what activities they engage in, and develop an engagement score. Keep in mind that customer interaction with your customer reps and marketing material is another factor to use when measuring the level of your customer engagement. Remember that the same tools that help you measure and understand customer behavior help you analyze the collected data to identify areas of improvement and the actions you need to take. For example, you could ask yourself the following questions:

  1. Are new features adding value?
  2. Are new users helped by tutorials and other guides or are they still unsure of what to do?
  3. Is the new design helping convert more trials?

 

Customer engagement can help answer your tough product and marketing questions. The key is to determine which parts of your product different customers use and to directly target customers for primary market research. After all, if you provide an online destination where they want to visit, you will increase awareness of your brand, drive people to your service, and end up engaging your customers again and again.

Contact us to learn more about your customers’ digital lifecycle, and how we can help you analyze customer engagement and improve your commerce.