Live Webinar on How India Reacts to the Union Budget 2025 | 6th Feb, 5pm IST

Days
Hours
Mins
Secs

Best Customer Retention Practices If You are a B2B SaaS Firm

Meticulous Onboarding Process for Clear Expectations Setting the right expectations with your customers can build trust over time. The onboarding process is ideal for letting your customers know what they can expect when they can expect it, and what the TAT will be for inquiries and service tickets. SaaS Firms can use service-level agreements (SLAs) […]

customer-retention-practices-fs

Table of Contents

Meticulous Onboarding Process for Clear Expectations

Setting the right expectations with your customers can build trust over time. The onboarding process is ideal for letting your customers know what they can expect when they can expect it, and what the TAT will be for inquiries and service tickets.

SaaS Firms can use service-level agreements (SLAs) to decide service provider and customer responsibilities. Avoid the temptation to over-promise. To make a good impression, it makes more sense to under-promise and over-deliver.

Identifying Who “Owns” Customer Churn

A vital question to ask in any SaaS company is – who is in charge of customer retention and churn? The ownership for customer retention can be undertaken by the customer service department, marketing department, or even a cross-functional team.

The marketing team can typically take charge of the churn. They have access and expertise in customer data and automation tools. On top of that, they have deep knowledge of the customer in general.

Determine the Reason for Churn

It is very crucial to determine the reason for customer churn. The action taken to prevent further churn can also generate growth.

One way to start is by calculating retention metrics (customer retention rates, net revenue retention, growth rate, etc.) for all your customers. These metrics give a clear picture of your organization’s retention scenario.

Once the metrics have been analyzed, you can take steps to close gaps and identify problem areas. This can be done by conducting NPS surveys, collecting feedback, and monitoring product usage.

Improve the Service Infrastructure

The quality of your service will help retain customers. A standardized structure will help you stay on top of service requests. It will also assure your customers that their queries and needs are being met in an orderly manner. Thereby enhancing the customer journey.

Based on the number of customers and the frequency of their service requests, you can deduce if a formal ticketing system and staff are required.

There are a number of automation options available for service providers. If possible, integrate these into your systems to save time and energy.

Upsell and Cross-Sell

You can maintain long-term relationships with your customers by analyzing their organizations and business processes. This will allow you to identify gaps where you can use your SaaS products to benefit them in some way.

Upselling is a practice of persuading your customers to buy a higher-end version of the product that they are interested in. While cross-selling invites your customers to buy related or complementary products.

Using Smart Data to Drive the Business Forward (AI & ML)

Smart Data will play a big part in the future of all industries. Artificial Intelligence (AI) and Machine Learning (ML) can help predict customer patterns or trends.

This can allow SaaS providers to offer the right thing at the right time. The right thing may include tweaking the product or using re-marketing strategies.

Smart Data helps build personalized experiences for customers. This will further bolster customer retention. When customers receive tailored products and services, they are less likely to leave the service provider for its competitors.

Customer Retention Helps SaaS Providers and Customers Alike

Customer retention is not a momentary activity. It starts with the product and includes its implementation, maintenance, and support.

The above-mentioned practices encourage growth and also let your customers feel valued and satisfied. The first step to applying these practices is by attracting the right customers. If a customer is not benefited from your services, then no retention tactic will make them stay. 

For more insights and solutions, visit Locobuzz.

Leave a reply

Personal data will be processed in accordance with Locobuzz’s Privacy Policy

Request a Demo

Please enable JavaScript in your browser to complete this form.
Consent
Personal data will be processed in accordance with Locobuzz’s Privacy Policy
Receive the latest blogs

Subscribe to our latest Blogs

Get notified about new articles

By submitting this form, you consent to our use of your data for processing your demo request and communicating about our services. We do not share your data with third parties without your consent as Locobuzz is committed to compliance with GDPR. For any questions, contact our Chief Data Officer, Vidyasagar Parivelli, at privacy@locobuzz.com. Your privacy and data security are our top priorities.

Book Your Free Demo & Unlock Insights Now

Please enable JavaScript in your browser to complete this form.
Consent

Curious to know how social listening works for top food delivery platforms?

Download our report and discover what consumers are saying about Zomato and Swiggy

Please enable JavaScript in your browser to complete this form.
Consent

Book Your Free Demo & Unlock Insights Now

Please enable JavaScript in your browser to complete this form.
Consent

Book Your Free Demo & Unlock Insights Now

Please enable JavaScript in your browser to complete this form.
Consent

Please Read the Terms and Conditions Before Submitting

  • The lucky draw contest is open to participants aged 21 and above.
  • The contest entry period starts on Oct 3 and ends on Oct 18. Entries received after the end date will not be considered.
  • Participants can enter the lucky draw by completing the online entry form provided on this page.
  • Only one entry per person is allowed. Any additional entries will be disqualified.
  • Winners will be selected randomly from all eligible entries received during the entry period.
  • The draw will be conducted online, and results will be shared on our social media handles.
  • The prizes for the lucky draw contest are as described on this page.
  • Prizes are non-transferable, non-exchangeable, and non-refundable. No cash or other prize substitution is allowed.
  • Winners will be notified via email and/or phone within 3 days after the lucky draw.
  • Winners must respond within 3 days to claim their prize. Failure to do so will result in the selection of an alternate winner.
  • By entering the contest, participants grant permission to use their names and submitted content for promotional purposes without further compensation or approval.
  • Participant data will be used in accordance with the Privacy Policy. Personal information will not be shared or sold to third parties.
  • The organizer reserves the right to modify, suspend, or cancel the contest if unforeseen circumstances or technical issues arise that affect the fairness or integrity of the contest.
  • This contest is subject to all applicable laws and regulations and is void where prohibited.
  • Participation in the contest constitutes acceptance of these terms and conditions.
  • For any questions or concerns regarding the contest, contact hello@locobuzz.com
Fill Out Your Details
[hubspot type=form portal=5086169 id=888a747b-e829-46df-a2d4-d2c7729a4ce6]
Request a Custom Report
[hubspot type=form portal=5086169 id=034775ca-2e25-4934-9e46-144ebf4e3b3d]

Personal data will be processed in accordance with Locobuzz’s Privacy Policy

Request a Demo
[hubspot type=form portal=5086169 id=bc733bf5-708e-4442-b2ad-1732d6895e71]

Request a Demo

[hubspot type=form portal=5086169 id=3f0e0940-c409-4d7a-b11d-40de60454c6a]