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5 Tips to Make Your Customer Success Vectors Actual Vectors (KSIs Not KPIs)

5 Tips to Make Your Customer Success Vectors Actual Vectors (KSI Not KPI)vector-01

79% of marketers state customer experience strategies need to focus on customer retention. Yet, according to McKinsey and Company, there’s too much focus on churn reduction with a lack of consideration on what the customer wants.

When thinking about common metrics used in customer success – e.g. customer health scores – these are in-the-moment snapshots designed to communicate the likelihood of churn. They do not consider what it is the customer wants to achieve and whether they are on track to achieve this. To do this, you need customer success vectors.

A customer success vector gives the here-to-here journey a customer has with you, detailing where they are at today, where they will be tomorrow, and where they want to go.

In this Process Street article, I’ll explain what a customer success vector is, and why you need to supplement your customer experience metrics with vector measurements. You’ll learn how to ensure your customer success vectors are actual vectors with my 5 top tips. By the end of this article, you’ll be able to leverage success vector results to drive growth from the customer’s perspective, and consequently, from the perspective of your bottom line.

Let’s jump to it!
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5 SaaS Renewal Best Practices (That Actually Work!) for Retaining Customers & Improving Renewals

saas renewal best practices

Every 28 days, a lovely Hermes delivery-person brings a crate of the world’s finest craft beer to my house.

But if it were up to me, I wouldn’t receive these beer boxes at all.

In early 2020, I tried to unsubscribe from [REDACTED] — a monthly beer subscription company — as I felt it was an unnecessary expense. I soon realized, though, that unsubscribing would be a Herculean task. There was no way to cancel digitally, and if I wanted to stop my subscription altogether, I’d need to ring them up during their (very limited) business hours.

Having to go through all that rigmarole dissuaded me from unsubscribing.

Annoyingly, I’m still receiving my delicious craft beers a year later.

These frustrating (read: unethical) tactics to stop customers from unsubscribing have been deployed by all manner of companies — from those in the food and drinks industry, all the way to those in the tech world.

And while it may seem tempting for your SaaS company to do similar, it’s nothing more than a quick win when, in reality, you should be focusing on improving the customer lifecycle. After all, it’s positive business-to-customer interactions that’ll stop people from wanting to unsubscribe in the first place.

That’s why, in this Process Street post, I’ll be discussing SaaS renewal. I’ll go over the definition of SaaS renewal, explain why customers think about unsubscribing from SaaS products, and provide you with actionable SaaS renewal best practices that’ll stop folks from hitting that unsubscribe button. (Providing you have one!)

Read through these sections to get in the know:

You’re about to become a SaaS renewal pro — let’s cheers to that!
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5 Mind-Blowing Things We Learned About Our SaaS Price Model

SaaS price model

For organizations, updating prices is like getting plastic surgery (I imagine).

You’re painfully aware that people can see what you’ve done, but under no circumstances will you ever talk about it. It’s a forbidden topic.

The first rule of pricing is: you do not talk about pricing” – Medium, The First Rule of Pricing is: You Do Not Talk About Pricing

Until now. I’m sticking two fingers up to the stigma surrounding pricing and I’m lifting the lid to reveal what goes on, behind the scenes, when organizations like Process Street change their SaaS price model.

I know. I’m brave, right?

Over the last few weeks, I’ve coerced and cajoled the Process Street pricing team into sharing some of the biggest pricing lessons we’ve learned (sometimes the hard way), since we launched in 2013.

And, here they are…

Curious?

Let’s hope I still have a job at the end of this…

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Sales Processes: 20 Checklists to Increase Sales in Your Business and Perfect Your Sales Process

9 checklists sales processes

For sales professionals today, only 34% of their time is spent selling.

This begs the question, what are they doing for the remaining 66% of the time?

Sales teams struggling to keep up with data entry, quote generation, and other tasks drag sales reps away from potential leads. As such, 54% are expected to miss their quotas every year.

What you need are optimized sales processes that outline the best sale practices drawing from up-to-date research and findings.

This is where Process Street comes to save the day.

In this article, you’ll find 20 structured sales processes based on industry best practices which you can access for free. Simply click Edit Checklist to add any process to your Process Street account, so you can start supercharging your sales process today!

For a quick taster, check out our MEDDIC Sales Process Checklist Template below:

Click here to get our MEDDIC Sales Process Checklist Template!

You can click on the relevant link below to jump to your template of choice.

Click on the subheader below to jump to the relevant section, alternatively scroll down to find out all we have to say and perfect your sales processes.

With that said, let’s get started!
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SaaS Onboarding: The Strategy We Used to Triple Conversions

SaaS onboarding

This is a guest post by Daniel Ndukwu. Daniel has extensive experience in digital marketing and is the Founder of KyLeads. There he helps business owners and publishers increase their leads and audience engagement with smart popups, interactive quizzes, and surveys.

In 2017, I had a brilliant idea.

Many of the tools for conversion rate optimization are point solutions. They make popups, landing pages, quizzes, surveys. Very few of them – if any – combine those functions into one.

I decided I would tackle the challenge by building a tool (now called KyLeads). It would allow people to create surveys, popups, and quizzes for lead generation and customer research.

After going through two development teams, rebuilding our user interface, and learning first-hand how hard it is to make software, we launched.

There was little fanfare and only a few customers when we started. But my team and I kept going. We knew it would be a long journey to success – and it’s paying off.

This article shares the best practices, tactics, and processes we used (and are still using) to improve our SaaS onboarding and grow our business into something spectacular.

Want to turbocharge your business’ onboarding successes and conversion rates in half the time?

Just read through the sections below to uncover these insider tips and tricks yourself:

Now, let’s get stuck in.

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How to Create a Killer Pitch Deck (With 3 Proven Examples)

pitch deck

When your average pitch is worth $5,800 per second you can’t afford to get things wrong.

You have an average of 3 minutes and 44 seconds to convince potential investors that your business potential is worth their money.

Oh, and that you know what on Earth you’re doing.

That’s a lot of pressure for any business owner. So, we here at Process Street have taken our own experience pitching to 2,500+ investors, venture capitalists, and business owners to give you the ideal formula for creating a winning pitch deck.

We’ll be covering:

Let’s get started!

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How to Pitch Your Company and Land Investors

how to pitch

Your average pitch gets examined by investors for about 3 minutes 44 seconds and (if successful) is worth around $1.3 million.

That’s more than $5800 per second.

With figures like that, you need to know how to pitch to land investors, customers, employees, prizes or whatever it is you’re aiming for.

That’s where we here at Process Street come in.

We pitched to over 2500 top SaaS professionals and investors at SaaStr Europa 2019, walking away with the grand prize from the pitch competition, the contact details of several venture capitalists, and collaboration opportunities for months to come.

However, I’m getting ahead of myself. In this post I’ll show you;

Let’s get stuck in.

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13 Top B2B Review Sites to Uncover What Customers Really Think

review sitesOne of the most important things when running your business is understanding how your customers feel about your service.

We all know that it’s tough to gather all the feedback you would like. You’re more likely to talk to customers in your support channels when they experience an issue, but that doesn’t always give you a holistic understanding of their experience with your product.

Equally, social proof is a very important area to leverage when trying to bring new customers on board. This means that public praise of your product can increase your acquisition rates and lower acquisition costs.

Positive or negative, reviews – particularly public ones – provide huge value to businesses in how we shape immediate and long term decisions.

This is why we at Process Street are writing up a list of the top places you should make sure you have listings for, should make sure you monitor for feedback, and make sure you engage on to improve your customer’s experiences.

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10 Ways to Use Personalized Marketing to Boost Your SaaS Sales

content personalization

This is a guest post from Emil Kristensen, CMO and co-founder of Sleeknote: a company that helps e-commerce brands engage their site visitors—without hurting the user experience.

If you have a SaaS company but you’re not using personalized marketing, you’re missing out on one of the biggest opportunities to grow.

The reason?

SaaS companies are different than many traditional models. Instead of building up to a one-off purchase, SaaS benefits from a long relationship with a customer.

That means you can increase brand loyalty in ways most consumer products cannot, and you have a host of personalized marketing data at your disposal.

Today we’ll look at the three most effective ways to use personalized marketing in SaaS to increase your sales: through your emails, website, and app.

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A Beginner’s Guide to Setting up HR Software in the Cloud

The following post is a guest contribution from Cristopher Burge. He is a full-time writer, passionate about technology and business-related articles. He focuses on everything that involves cloud computing, in one way or another. Follow him on Twitter.

HR Software

The emergence of cloud computing has changed the way organizations and people buy and use IT services.

Cloud-based HR software is technologically focused, but the impact it has on the business and the people using it is profound. While some companies have not integrated with the cloud due to fear of the unknown and the urge to protect their investments, they are at risk of missing out on the innovations the cloud brings to tphe HR department.

Cloud computing is the simplest way a company can take the advantage of technologies without having to spend money on buying expensive computer parts, an IT specialist, and on-site software.

The problem most firms often run into is the integration of cloud computing into their already existing structure, but this process shouldn’t be a daunting one because it is a change in the way IT services are utilized, requiring a new but better way of doing things and just a little cultural change towards a better result.

This article points out how cloud services provide high value with low risk, as a solution for the HR department of an organization, enabling departments to transform the way things are done — from screening to recruitment and termination. It highlights the importance of moving the HR system to the cloud and the method through which any HR challenges can be overcome via cloud computing.

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