Our Answers to Your Power BI Questions

Power BI

If you have used Power BI, you have experienced the vibrant new avenue to streamlining data and finding opportunities to improve business daily. If you have not used Power BI to its fullest potential yet, or you are experiencing questions regarding the platform, MaxQ Technologies, Inc. specializes in finding solutions to your questions. We are here to provide support so your business can perform to its maximum capacity, so we have researched your Power BI questions to provide you with more insight into utilizing this product to its utmost ability.

How do Power BI and Power BI Pro differ?

As you have probably learned, Power BI is a new product that allows you to more easily and vividly organize your company’s data so you can visualize the trends and business tactics as they work. It provides a whole new level of organization so you can push business to a new plane of success. If you have heard of Power BI Pro, you may be wondering what this investment can do for your business that Power BI cannot. Power BI Pro also provides these vital new features while also offering more storage space (10GB instead of 1GB), live data control, hourly data updates instead of daily updates, and team collaboration using Office 365 Groups. These properties allow you to more easily interact with your data finds to grasp more control over the direction of your business. Find more differences between the two here.

 

Will Power BI work on my phone?

If you are trying to keep up to date with the latest changes in data, you may be wondering if Power BI is compatible with your mobile device. Power BI does have apps supported by Android, iOS, and Windows phones downloadable for free so you can more easily monitor business trends on the go.

 

What information do I need to install Power BI?

The free version of Power BI is available for use with just your Web browser and work email address. For more control over data visuals and report creation, you will need to download the Power BI Desktop– which is also free.

 

What data sources does Power BI connect to?

Data sources that work with Power BI are nearly endless. You can collaborate with data sources from Excel and other Microsoft platforms, Salesforce and similar service providers, Azure SQL Database, SQL Server Analysis Services, Office 365 groups, and some SSAS data sources depending on inherited privileges, in addition to many more. Keep in mind that access to some of these data sources is limited to Power BI Pro.

 

For more answers to your questions concerning using Power BI, contact us. We will find a solution to whatever your business data collection question may be.

 


SaaS Tips: Five Ways to Reduce Churn

SAASChurn is a dreaded word for SaaS managers. Simple put, churn is the rate at which your customers cancel their recurring SaaS subscriptions. However, effectively measuring and coming up with a strategy to reduce churn is not so simple. It involves a strategy that permeates the entire digital life cycle. From the moment a prospect becomes a customer, a strategy must be in place to keep them on board, and hopefully upgrade or upsell them down the road. SaaS success hinges not only on customer retention, but generating new revenue as well. Churn, however, is at the center of both success metrics. Consider five ways to reduce churn in your SaaS company.

 

Identify Who is High Risk

A key to decreasing churn is to identify high risk customers. The best place to start is with your customers that are leaving. Create an exit survey to collect data. Ask why they are not renewing. How often did they use the software? How many employees used the service? Combine this data with demographic information you should already have, such as the type of business, number of employees, geographic location or age of company. This demographic data will help you create a profile of a high risk customer. Going forward, when new customers subscribe with a similar profile, you’ll know you need to act fast and give them a little more attention to keep them around. Or, you may be able to develop a specific feature tailored to that demographic. If small businesses in a certain niche industry tend to drop, consider their exit surveys and focus on the development of a new feature that might earn their loyalty. You may even discover that a certain age demographic is most likely to drop. Trending these factors will help you develop communication methods aimed at that specific group.

Focus on Education

To instill loyalty, customers must feel like they are getting more than they paid for. Exceed their expectations. Instead of focusing on upselling existing customers, focus on educating those clients to ensure they are getting the most from the bucks they are already spending. Specifically focus on education tools for your high risk customers. Create weekly blogs or e-newsletters that feature how-to guides or FAQs. Offer online videos or live video training classes that feature your product or tips and tricks for their industry niche. For example, if your SaaS product features an engagement or social media module, walk your small business owners through this tool. Show them how easy it is to engage their customers. Go beyond the simple functionality of the product. Feature general marketing or engagement tips they will find beneficial too. Use your educational tools to become your client’s trusted advisor. If you sell a product that features a social media tool, you should be an expert on all things related to social media marketing. Get your customers excited about the future by organizing webinars that discuss new features that are in development. It’s a great way to build anticipation and get valuable feedback.

Make Upgrading a Natural Process

Upgrades are an integral part of growing and expanding your SaaS business. It’s much cheaper to upgrade an existing customer than to recruit a completely new one. However, to upgrade you have to keep your existing customers first. A customer that has upgraded is more invested in a product than a customer with the most basic subscription. An upgraded customer has seen the value and has moved out of the “high-risk” zone. Thus, upgrading your customers is critical to reducing churn.

An effective upgrade strategy involves helping customers get all they can out of their current plan. You are helping them grow into needing the next. One huge pitfall among SaaS providers is not including enough value in the basic subscription. They mistakenly feel like they should withhold the truly valuable features as an incentive for the customer to upgrade. This faulty reasoning leads to increased churn rates because customers don’t see any value. Conversely, when a customer sees incredible value in the product they’ve purchased, they naturally will see the value in upgrading to the next level.

Encourage Interaction

Be proactive about engaging your customers. Reach out to them. Offer incentives for them to communicate their thoughts. Here are a few ways to do it.

  • Surveys:Surveys aren’t just for your customers that are leaving. Keep them short, 10 questions or less. Carefully draft questions that will give you insight into how your customers are using the product and what improvements they would like to see. If the user chooses to not remain anonymous, contact them with a thank-you e-mail and follow-up with their specific concerns or requests. Make sure they know their feedback is valued and used. Be sure good and bad feedback is acknowledged. Remaining silent leaves a very bad impression.
  • Social media:Include social media in your branding campaign and in your education strategy. Draw attention to blog posts, how-to guides and industry trends through your social media feed. Utilize social media polls to gather feedback from past and present customers. Set up contests with free product giveaways for participation.
  • Feedback bar:Include a feedback bar or forum directly within your product so users can quickly be heard. It’s a great way for users to interact with each other and get tips from their peers. However, be sure an employee monitors the dialogue to ensure all questions are answered accurately. This will also give you insight into what features may need improvement. If customers constantly have issues with the same feature, maybe it needs to be more intuitive or customers need to be better educated.

Offer Rewards

We already talked about giving your high-risk customers a little added attention. However, don’t overlook your most-valued, loyal customers. They need to feel your love too. The most basic loyalty reward is to offer customers buying an annual subscription a reduced rate compared to those that are billed monthly. Go a little further by giving your annual renewals a free add-on to try. Show personal interest by making it something specific to their industry. Ask your loyal customers to try a new beta product and provide feedback. Give them some free usage for their time and insights. Other rewards to consider are those related to a referral program. Integrate with your social media campaign by offering clients a free add-on for sharing their positive feedback with their social media followers. Ask a long-time user to be a guest blog writer. They will get added visibility and so will you. Get creative. Think beyond simple discounts or giveaways.

In a nutshell, SaaS businesses grow by increasing revenue and decreasing churn. Understand your customers. What services are most valuable? How do they prefer to be billed? What is their level of technical expertise? Analyze who they are. Build a strategy for education. Help them see the value in upgrading. Communicate effectively and offer rewards. Max Q Technologies understands that to do this successfully, you need the infrastructure to manage billing, recognize revenue and and track customer engagement. Our highly experienced team works closely with clients to customize their subscription management strategies. Track billing, renewals and effectively forecast future revenues throughout the digital life cycle with our solutions.  Contact us to learn more.

 


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.