Unlocking Subscriber Loyalty: The Power of Personalization in SaaS
There are so many things that make some SaaS subscribers disappear. It feels like fighting a losing battle. After all, you can work on everything you can think of to stop churn, but one deal from a competitor, and that customer is gone, possibly for good. But there is one thing that is in your control. One thing that SaaS customers love. One thing that keeps them coming back for more. And it’s something that can be really easy to do. Can you guess what it is? Just make it personal. 73% of customers says experience as an important factor in their purchasing decisions, just behind price and product quality. - PWC 66% of consumers expect brands to understand their individual needs. - Salesforce You want your SaaS customers to feel special and appreciated. Because when they do, it’s gold for you. Happy customers are loyal. They stay for the long-term. Of course, you have to get that personal UX right. There’s no room for guesswork or error here. So how can you ensure that your business, your people, and your product or service meets each customer’s unique needs? It feels like a huge ask. The good news is that we work with many SaaS companies who have hundreds and thousands of subscribers, all with their own needs. We’ve heard it all! And we know which tips really help. So here are some of the best to help you with customer personalization. Ready? The Macro Tips There are the bigger, more institutional things your SaaS company can do to personalize your customer experience and boost satisfaction and loyalty. 1. Embrace data-driven insights Make use of the data you have! When you leverage subscriber data points such as purchase history, demographics, and behavior profiles, you can create more tailored experiences for each user. This could range from finding out what type of product or service a customer is interested in to offering personalized discounts and promotions. 66% of consumers will share personal data to elevate customer experience. - Harris Poll 2. Use AI technology Artificial intelligence (AI) technology can be used power tasks such as managing customer support tickets and creating and sending personalized recommendations. Imagine never having to do that again! This frees up valuable time for your teams to focus on the complex issues that need human intervention. 3. Invest in personalized content Offer tailored content based on each user’s interests or preferences. It’s far more likely to encourage engagement, conversion, and sharing. For example, if a customer has already bought a subscription to a specific feature of one of your SaaS products, you could create content that helps them increase the value they are achieving. 4. Take advantage of automation With the right software, all those soul-sapping tasks like sending follow-up emails or tracking customer interactions will be completely automated. This will save your team time and ensure that your customers get a consistent, personalized experience. With Bluefort's end-to-end SaaS software platform, you can streamline your processes and take automation to the next level, to effortlessly personalise your customer experience. 5. Track customer churn Use analytics tools to track customer churn. It’s important to figure out what customers love and what makes them run. Often the answers will shock you! 6. Knock down your silos This is a big one that most SaaS companies overlook. Silos kill SaaS customer experience because they lead to inconsistent messaging, mistakes, and a lack of understanding of the customer's needs. We’ve all been there as customers – on the phone, on hold forever waiting for customer service, only to have customer service not have our details (or even worse, have the wrong details!). It’s frustrating and such a turn-off. It’s a massive lost opportunity for loyalty. 76% of customers expect consistent interactions across all departments. - Salesforce The Micro Tips We believe that sometimes it’s the little things that make all the difference, especially when it comes to bonding with people. So here are four practical, small ways to increase your SaaS customer personalization for results that matter: 1. Use a customer’s name It might seem like a small thing, but addressing a customer by name can make a big difference. People love to hear their names - hearing it grabs their attention and activates the core identity part of their brain. Phone calls, emails, responding to a support ticket, sending an offer - using their first name instead of a generic greeting can help build rapport and make the customer feel valued. 2. Offer personalized discounts When you offer discounts based on a customer's purchase history, interests or browsing behavior, you show that you're paying attention to their needs. For example, if a customer has been looking at a particular feature/product but hasn't bought it yet, create a personal offer for them. This shows them you understand them and can encourage them to convert. 3. Customize your communication channels Different customers like different channels. Find out if they prefer email, phone or live chat and use that channel for communicating. This can help make the customer feel more comfortable and engaged with your product or service. 4. Provide personalized onboarding Each SaaS customer wants the onboarding experience that suits them. Personalized video tutorials, one-on-one training sessions, or a customized set-up process will make them more comfortable and confident. Which means a better relationship for the long-term. Apart from using someone’s name, by far the best tip is to take advantage of automation. Because automation relieves you from having to do any of the others. It’s finally out of your hands, in the best possible way. Today’s customers expect personalization in their experiences, and research has found that it can increase customer satisfaction, reduce churn rates, and improve overall engagement with products or services. So if you’re looking to give your subscribers the best possible experience (and reduce churn!), make sure personalization is at the top of your priority list—it could be the difference between success and failure. And if you give these SaaS customer personalization tips a try, you’ll be on track to providing them an unforgettable experience that keeps them coming back for more. 86% of consumers will leave a brand they trusted after two bad customer experiences. - Emplifi So if you’re looking to give your subscribers the best possible experience (and reduce churn!), make sure personalization is at the top of your priority list—it could be the difference between success and failure. And if you give these SaaS customer personalization tips a try, you’ll be on track to providing them an unforgettable experience that keeps them coming back for more.Want to see how you can drive up customer loyalty through personalization and automation with Bluefort?
Are Client Disagreements Burning You Up?
A Spicy Guide to Handling Disputes Like a Chilli Pepper Pro Client disagreements are a nightmare. Even if you think you can handle them, they can completely catch you off-guard. They can get worse and worse. They can completely disable your abilities to think about anything else. Client disagreements are just like eating chilli peppers that just keep getting hotter and hotter. When was the last time you ate a chilli that was waaaay too hot for you? You sweat bullets. You reach for the nearest beverage (hope it’s not wine!). You might even hiccup like crazy. And all the time, you wonder – why, why, why, do you put yourself through this? Right now your tongue might be metaphorically on fire as you try to navigate the heated world of client dissatisfaction. Because client disagreements are PAINFUL. As business leaders, we know that client disagreements are inevitable. But much like the world's spiciest chilli peppers, these disputes can range from mildly irritating (think jalapeños) to downright catastrophic (hello, Carolina Reaper). The key to keeping your finance and revenue numbers in check—and your taste buds intact—is understanding the different types of disagreements and their potential impact on your business. So we’re gonna take you through a little guide - the Scoville scale of client disputes - and learn how to handle them like a chilli pepper connoisseur. With Bluefort's end-to-end digital operating platform, you can streamline and hyper automate your processed, to put an end to disagreements, and actually impress your clients. Grab your glass of cold milk and let’s go! The Scoville Scale of Client Disagreements: From Jalapeño to Carolina Reaper Jalapeño-Level Disputes (2,500 - 8,000 SHUs): Minor Miscommunications These little disagreements usually come from simple miscommunications or misunderstandings. Though they cause a little discomfort, they’re usually resolved fast, with open communication and transparency. Damage level: Tingling tongue, a few burps.Cayenne-Level Conflicts (30,000 - 50,000 SHUs): Unmet Expectations Okay, it’s getting a little hot in here. Clients feel their expectations haven't been met. This can involve project scope, deliverables, or timelines. This level means you have to be proactive - don’t wait till things blow up. Stop the problem where it is. Damage level: Get your hands on the strongest antacids you’ve got and start popping those bad boys like chocolate buttons at Easter.Habanero-Level Hassles (100,000 - 350,000 SHUs): Contractual Disputes Whew, NOW we’re getting spicy. Contractual disputes usually have something to do payment terms, service level agreements, or other legally-binding things. This is where customer disagreements can have a big impact that requires mediation or legal intervention to resolve. Damage level: Your friends film you gasping with eyes bugging out, knocking over the stuff on the table in desperation…and the film goes viral. Ghost Pepper-Level Grievances (855,000 - 1,041,427 SHUs): Ethical Concerns Man do things escalate fast when there are ethical concerns. We’re not saying you’re unethical! We’re saying there’s a perception of that. It could be a lack of corporate social responsibility. It could be questionable business practices. Maybe you have partner who has gone rogue. These client disagreements MUST be sorted rapidly before your company's reputation is ruined. Damage Level: You’ve got third-degree burns going in and out and you are not taking visitors.Carolina Reaper-Level Rifts (1,569,300 - 2,200,000 SHUs): Major Breaches of Trust The Carolina Reaper of client disagreements involves major breaches of trust, such as fraud, theft, or other serious misconduct. These disputes can lead to financial ruin, the dissolution of the business relationship, fines, and even prison. Damage Level: You are now dead. And no one goes to your funeral. Sounds familiar, right? The thing is, even if you’re on top of all your company’s processes, you’re going to have client disagreements. In fact that’s probably why you’re reading this article now. So let’s get to what can be done about it. The Cooling Remedies: How to Tame the Heat of Client Disagreements What are some cooling remedies for managing these fiery situations? 1. Transparency Be upfront and clear with your clients about project scope, deliverables, and timelines from the outset. Get everything in writing. 2. Active Listening Ensure you fully understand your clients' expectations and concerns. Know their definitions for the words you use (ie how do you both define “timely”?) Actively listen to their feedback, and work together to find solutions. 3. Regular Check-Ins Schedule regular check-ins with your clients to discuss progress, address any issues that arise, and keep that strong working relationship going. 4. Contract Clarity Make sure your contracts are clear, concise, and easily understood by both parties. 5. Ethical Business Practices This goes without saying, but be ethical! Integrity is everything. On the flip side, deal with clients who have good reputations too. 6. Open Dialogue Both sides must be able to say difficult things. But it increases trust, and helps solve disagreements before they get worse. 7. Professional Mediation When direct communication isn’t enough, bring in a professional (or professionals) that both sides trust. 8. Automation Implement automation tools that will take care of the end-to-end process. Automation streamlines communication, project management, and reporting. It cuts down misunderstandings, creates timely updates, and provides a high level of service for your clients. Client disagreements can range from mildly irritating to downright fiery, just like those chilli peppers that some of us adventurous (misguided) people like to try. By understanding the different types of disputes and their potential impact on your business, you can navigate these situations with grace and skill—and keep your taste buds (and finances) intact.Want to see how hyper-efficient processes and automation can help cut down client disagreements?
Why Is My ROI on Innovation as Elusive as Bigfoot?
A Guide to How to Find the Beast Ever felt like your return-on-investment (ROI) on innovation is playing a never-ending game of hide-and-seek? Maybe it’s even harder to find- like Bigfoot. Feels like a legend that only a lucky few have seen. And you’re strongly suspicious they’re all fibbing. They have to be! Maybe every time you hear "boosting your ROI” you want to scream into a pillow in frustration. We don’t blame you. It’s soul-destroying pouring money into something that SHOULD be working, but isn’t. So we thought it might be helpful to go through why you’re missing ROI on innovation, and some tips to finally find and tame that beast! The Mystery Behind No ROI on Innovation: Bigfoot's Secrets Revealed So why are your innovative efforts not yielding big old heaps of cash? There are lots of possibilities. Here are a few of the most common: Misaligned goals Does it feel like your innovation lacks focus? Have your priorities somehow been along the way? And whose goal is it anyway – the business’s or the customers’? Does one compete against the other? You don’t set out to find Bigfoot without knowing which forest he's hiding in. That destination has to be lined up before you can figure out how to get there. Lack of collaboration Be honest - come on, now - how many silos does your company have? Even the people in your office who can’t stand the sight of each other need to be able to share information. Innovation only succeeds where ideas are freely exchanged. Teams have to work together. Imagine going after Bigfoot with a documentary team and no one has spoken to each other till you all meet for the search. Chaos ensues. Inadequate measurement Are you tracking the wrong metrics or using outdated methods to evaluate your efforts? Look, when your innovation ain’t doing great, you probably would rather put your thumbs in a torture vice than look at the actual numbers. It’s hard. It’s wincy. It feels like “failure” right in your face (we don’t think anything is failure as long as we learn from it). You have to measure the impact of innovation to understand your ROI. Otherwise, it's like trying to capture Bigfoot using a Polaroid camera and a kids’ butterfly net—not gonna happen. Asking the wrong questions Do your innovations match what your customers want or need? Sometimes companies don’t ask the right questions before they start- they just plunge into the idea without figuring out the parameters or fine details. Innovation is always about solving a problem, even problems that will be important in the next year, three years, or five years. You’re not capturing anything about Bigfoot unless you have the right gear, and you won’t have the right gear if you don’t ask the right questions. The Soul-Searching Questions You Should Be Asking: Bigfoot Edition Speaking of asking the right questions, it's time to rip off the proverbial bandaid and ask yourself some crucial questions (along the issues above) about your innovation programme: 1. Is my company culture conducive to innovation? Everyone thinks they’re all about innovation but that’s not the case. If you want good innovation, you must give your people the TIME and RESOURCES they need to problem-solve. 2. Am I listening to (and actioning) my customers' feedback? Sometimes it’s frustrating having to listen to your customers. Especially when they change their minds, don’t know what they want, or are tempted away by your competition. But they do give insights into areas where your products or services could be improved. 3. Am I doing enough research on competitors? Figuring out where your competition is awful is probably more helpful than where they’re doing well. Customer reviews, message boards, and social media account comment sections are GOLDMINES for information on what your competitors’ customers need. And they’re free! 4. Am I learning from past mistakes? It’s such a cliche, but it’s true. The thing is, very few people do it. Mistakes are amazing learning opportunities, but only if you're willing to do the deed and acknowledge them. Look at the missteps and patterns of your past actions. 5. Are we actually getting the products out there? If your innovative products or services never make it to the right market, you'll never see an ROI. Make sure you have a good plan in place for launching and promoting your innovations. The Action Plan: How to Make Innovation Better and Boost Your ROI (Bigfoot-Style) So, with all these questions probably circulating in your head, it’s time to take action. That ROI has been wandering the forest enough. It’s been hiding. Other people have been bragging about it and it’s time to take control and find it once and for all. Though each business has its own circumstances, and you have a lot of choice, there are some basic steps you can take to make your innovation better and find that elusive ROI: Establish clear innovation objectives: Your plan needs specific, measurable goals that align with your overall business objectives. Foster a culture of collaboration: Break down departmental silos, offer cross-functional training, and do team-building activities. Make sure your innovators are creative problem-solvers who have the time to play with ideas. It’s not something that can be done crammed into 1-3 hours a week. Implement a robust measurement system: Don’t ignore those KPIs - look at revenue growth and cost savings, operational metrics (like process efficiency or time-to-market), and qualitative measures (customer satisfaction or employee engagement). Continuously iterate and improve: Innovation is an ongoing process that involves constant research, tests, experiments, etc. Keep going, keep trying, and take risks. Unconventional can be good, even in a conventional industry. Consider a collaboration with a complimentary business: Partnering with a trusted, complimentary business helps you pool resources, expand your reach, and drive innovation. Collaborate on new product development or share industry insights. Be creative with getting the word out: Promote your innovative products and services using a variety of channels, such as social media, content marketing, and events. Engage customers and partners who love your brand to help build buzz and drive interest. Broaden how you decide to innovate: Why focus just on developing new products? Maybe new applications for your existing offerings is a better move. This can cut down on investment and start bumping up the return. No one said that good ROI on innovation was going to be easy. It’s an elusive thing. But you’re not alone. By asking yourself the right questions, addressing the underlying issues, and taking actionable steps to make innovation better, you can unlock the full potential of your efforts and finally achieve that sought-after ROI. So, channel your inner Bigfoot hunter, unravel the mystery of your missing ROI, and make innovation the driving force behind your business success. Get that proverbial Bigfoot, film it, and show the world that you’re capable of!Ready to streamline your processes, reduce errors, automate your subscription management operations, and finally focus on your customers?
The Struggle is Real: Why Businesses Can’t Seem to Embrace Change
It's no secret that change can be hard. It can be terrifying. Doesn’t matter if it’s a new haircut, a new person or a new business strategy. It's hard to know what the future holds when you're used to doing things a certain way. And because change can require time or money or effort or risk, it’s easy to think that sticking with what we know is the safer option. But here's the thing that our primordial lizard brains refuse to believe- change usually takes a lot less time and effort than we thought. And we know that the long-term cost of resisting change can be a real doozy. Why do we do this to ourselves over and over again, especially when after the change happens, 9 times out of 10, we think to ourselves “Actually, that wasn’t so bad”? WHY? We know the downsides to resisting change in business. We risk falling behind competitors. In fact, we’ve seen countless examples of businesses (both large and small) fold because of this very thing (Blockbuster and Kodak, anyone?) Take the software-as-a-service (SaaS) world. You’re in a field where innovation is everything. you pour all our money and resources into making cutting-edge products. So why be so resistant to innovating your own operations?SaaS customers care about how your products run. But they also care about how you run. And if you don’t run well, they will run … a million miles away. But all this can change with the proverbial flick of a switch. And that switch is automation. And this is where change can make a huge difference. But how do you know it’s time to change? Here are five signs: Your team is constantly swamped with manual, repetitive tasks. Ain't nobody got time for that! Automating can free up time for more strategic work and increase productivity. Your process is prone to errors and inconsistencies. Manual processes are, unfortunately, prone to human error. Automation can help improve accuracy and reduce the risk of errors. You're not meeting your growth goals. If you're not hitting your targets, it's time to re-evaluate your processes. Automating can help identify inefficiencies and help you meet your goals faster. You're relying on spreadsheets. Don't get us wrong - spreadsheets are great. But they're not scalable. As your business grows, it's important to have a system that can handle increased volume. Your customers are unhappy with your service. If your customers are dissatisfied, it's time to look at your processes. Automating can help you deliver a better customer experience, and most importantly, reduce churn. The thing is that if a friend come to us with these problems, and there was an obvious solution, we’d tell them to go for it, right? The ironic thing is - and we've seen this quite a few times - that automation is so much less disruptive than people will think it will be. The number of times we’ve installed our LISA software, or given a brand a free trial and shown them how it works, they all say something along the lines of “This is it? This is all we have to do to make it work?” It’s much, much easier than they feared. So, if you're hesitant about embracing change, just remember - the struggle is real, but the payoff is worth it. If you’re not sure, why not get in touch with us to find out how one change can completely revolutionise how you do business for good? You’ll be so glad you did. Take a chance. You won’t regret it.
Leveraging AI to Skyrocket Customer Lifetime Value and Crush Churn
We love customers. And we want to make sure they love us. It’s easy to make the mistake that success in subscriptions is about getting customers. But that’s only half the story. We’ve got to keep them too. Customer loyalty and longevity is the lifeblood of success- which means we have to reduce churn if we want any chance of maintaining that steady stream of revenue. The problem is that churn doesn’t always act like a flood. It can be stealthy. Like a leak in a boat that sinks businesses, where you don’t know you’ve got a problem until it’s too late. It not only erodes the customer base and over time has a massive impact on the bottom line. Because churn is death- the stakes are that high. So the solution needs to be that good. That’s exactly why AI has been developed in the subscription business industry. It’s the fastest, easiest and most cost-effective way to drive customer lifetime value and send churn packing for good. How’s it work? Here are a few ways AI helps managers boost subscriber lifetime value: Helps make better decisions Due to their recurring nature, subscriptions generate a lot of data: billing data, renewal data, financial postings, logistical data, entitlements etc. This is good news. AI tools don’t work without high quality training data. Predictive models evolve with more data, so overtime, the AI gets better. It can pinpoint subscribers most likely to churn, so that you can do something about them before they do. Trend spotting AI tools are perfect at spotting patterns or trends. You can feed your organisation’s subscription data points to spot any meaningful correlations which would otherwise be missed. They can also be used to verify or annul existing business mind-sets for example: is there a correlation between customers who are not using your all of your product’s benefits and churning customers? Is a high number of support cases an indicator of dissatisfied customers who might churn or an indicator of highly-engaged customers who are pushing your offering to its limits and helping you improve? Let AI help you answer such questions! An enhanced user experience The capabilities of AI are a surefire way to win your customers' hearts because customers don’t just hope for it, they expect it. AI tools (such as chat-bots) automatically analyze in-segment subscriber behavior, preferences, demographics and sentiment to create a tailor-made experience that fits each customer like a glove. Imagine if these bots are also tapping into your subscription data to inform customers about their active subscriptions, open support tickets, usage levels, next scheduled deliveries, upcoming renewals, etc. They can make special offers or help customers define the service they want for the upcoming contract period. A win-win both for your sales teams and for your customers. Do you know a customer who doesn't love feeling special? The time they need to succeed AI finally relieves your teams of some of the biggest, most time-sapping tasks they have. Sales, customer service, and development teams might be amazing, but they have their limits if they lack the resources they need to manage subscriptions. If they’re freed from tedious tasks, they’ll have the time to focus on future-proofing your business, like building nurturing customer relationships and improving new products and offerings. That’s why we’re passionate about the role of AI in unlocking customer lifetime value and reducing churn in subscription businesses. No one should have to necessarily grind themselves into the ground with the day-to-day tasks of subscription management, and still suffer churn. By using AI to deliver personalized experiences, anticipate churn threats and offer the best renewals, and give our teams the time they need to create lasting connections, subscription businesses will build a loyal customer base. So, let's embrace AI and bid farewell to churn once and for all!
An Adventure in Subscription Management Land – The Big Sister Rescue Edition
Ever hosted a party that got completely out of control when you were younger? Then you know that it was never meant to get out of control. A few extra guests here, a trouble-maker there, too much booze over there, and then you blink, and BOOM! You’ve got compete strangers wearing your grandma’s best jewelry, the sofa’s missing and someone’s setting the fence on fire. If you break the whole thing up, you’ll forever be known as a buzz kill and no one will ever come to another party. AND your parents are on their way home. You’re going to have some explaining to do. And that’s exactly what can happen with subscription management. Well, not exactly, but close enough. Especially if you’re in Revenue Operations (RevOps). Things start to go well. The business scales- a little bit here, a little bit there. You start getting busy. Really busy. You might struggle to keep up. Little mistakes crop up. But as the party gets more chaotic, mischievous billing errors sneak in, managing cancellations becomes a daunting task, and keeping track of subscription data feels like a high-stakes game of hide-and-seek. You’re on the edge of disaster - with dwindling customer loyalty, slipping revenue, and skyrocketing churn rates. And then the moment of inevitability comes- you hit the tipping point and the subscription management process spirals completely out of control. It’s pandemonium. People are leaving. Your brand’s damaged. And somehow you’ll have to explain what happened to people who are going to be furious. But then- just when you think all hope is lost, here comes your proverbial big sis LISA (Bluefort’s Licence and Subscription Automation product suite), who has been here before and knows exactly what to do. She gets you to pull yourself together and introduces you to three powerful tools that will bring order to your wild party and streamline your subscription management process. Each tool will help you regain control to this mess and your reputation: 1️⃣ Consolidating Subscriptions: The Guest List Makeover LISA shows you how to organize your subscription party-goers by consolidating everything. There are no more silos, and groups of people doing different things at different times. She knows how to figure out who’s still here and what they need. As you streamline your list together, you'll get better visibility of your subscription data, making it easier to manage everything, like renewals and cancellations. This newfound clarity brings you one step closer to improved customer retention and reduced churn. 2️⃣ Automating Billing: The Party Trick of Precision Impress your guests with LISA's ultimate party trick: automating billing. It’s virtually impossible to accurately keep up without automation. But by eliminating manual processes and reducing the risk of billing errors, you'll save so much time and ensure a seamless experience for your customers. They won’t be mad at your mistakes. This slick maneuver guarantees a proverbial dance floor packed with happy, loyal customers and increased revenue. No one’s sitting your do’s set out. 3️⃣ Integrating with Other Systems: The Perfect Party Playlist Create the ultimate party atmosphere by integrating your subscription management software with other systems. As LISA guides you to harmonize the flow of data and improve overall efficiency, that means all the challenges of managing cancellations, billing, and subscription data are gone. What’s left? Better customer retention and increased upsell. With LISA's help, you've transformed the out-of-control house party into a well-coordinated and streamlined subscription management extravaganza. Not only does she help you regain control, but she also assists in cleaning up the aftermath, making sure your business is set up for continued success. She brings end-to-end automation, digital capabilities, and ease of use. It’s the trifecta that keeps on giving for your Revenue Operations. Now, as a united force with your big sister LISA, you've conquered the challenges of scaling your business and successfully managed your subscription management process. And with this subscription management, you enjoy increased revenue, decreased churn and a rock-solid reputation as the place to go for subscriptions. You’re free now to scale as much as you want with LISA because she will always be there to help you out and sort everything out for you. Together, with Bluefort and LISA by your side, you'll continue to grow and celebrate the rewards of a successful subscription management journey.
Waterloo: Enhancing Subscription’s Customer Service and Billing Since 1815
The man never imagined when he sat down with strawberries for breakfast that the world was going to break apart. It was June 1815. He was Marshal Grouchy, and he and his troops were supposed to have picked off the Prussians. But he didn’t, and now his ally Napoleon was 20 miles away, fighting for his life against the armies of the Seventh Coalition, at Wavre. And though Napoleon was at first successful at defending attacks, as we all know, he eventually failed against Wellington soon after at Waterloo. The thing is, he didn’t have to fail. Because of a series of vague or incorrect intel and misunderstood orders between Napoleon’s unit and Grouchy’s, Marshal Grouchy and his supporting forces were delayed. So they had no idea that Napoleon’s forces were forced to fight without backup. In fact, Grouchy didn’t even know there was a battle that day - until he heard the actual battle going on. Disaster. This mistake allowed the Prussians to join up with Wellington’s British forces and start the beginning of the end for the French Army. The point is that success requires excellent communication between collaborators. And the same thing goes with subscription management. Okay, you probably just raised your eyebrow. You’re thinking there’s a chasm of difference between 19th century continental military disasters and SaaS subscription businesses. But hear us out. If your teams don’t communicate well, your business can blow up spectacularly. So this history lesson serves as a warning for subscription management. (We’re sure that’s what Grouchy had in mind all along). In a lot of subscription businesses, billing and customer service information and teams are siloed. This risks all the pitfalls of disjointed billing and customer service. And there are many pitfalls. Incorrect invoices. Billing disputes. Customer service reps who don't understand the billing process. A billing team that might not be up on discounts, renewals, upsells and cross-sells. And maybe a sales team that’s way too busy to keep up with everything as well. But if there’s one thing that subscription customers don’t like in a provider, it’s mistake after mistake. That’s the basis of customer churn. High churn rates not only decimate your revenue but also damage your company's reputation, making it hard, if not impossible, to bring new customers. And teams are stuck dealing with recurring issues instead of innovating and taking the company forward. Whether failure comes slow or fast, it’s hard to stop or recover. So why put your business in that position a second longer than you have to? Strategies for Victory To tear those silos down and make sure that info flows between teams again, companies must take a strategic approach. Here are some things that can help: Clear and Concise Billing Information: Easy-to-understand invoices that include info like subscription plans, billing cycles, and payment methods can prevent billing disputes and reduce the burden on both customer service teams and accounts. Training: Arm customer service staff, sales, and billing with the know-how of subscription billing and management processes. This means that all teams will know what is expected of them and what to expect from the others. This means more efficient subscriber query and problem resolution. No more putting a customer on hold hoping to find the answer! Proactive Support: When teams openly communicate, they can anticipate and address potential customer pain points before they escalate or even begin. For example, send reminder emails before subscription renewals or offer assistance with account changes. Best Practices for Killer Results A coordinated approach for billing, sales and customer service teams includes these practices: Regularly review and update billing processes using feedback and insight from all teams to make sure they stay accurate and user-friendly. Keep clear channels between billing and customer service departments, relying on continual collaboration and information-sharing. Implement a centralized subscription management system to streamline processes and provide real-time data access to both teams. The easiest way to put this into action? Enter the LISA Solution: A United Front for Subscription Management You might feel overwhelmed by the very idea of these suggestions. But you might have also felt exactly like Grouchy and watched with horror at the consequence of missed communication. The good news is that you don’t have to make these changes alone. Not at all. Bluefort’s LISA product suite is here to align your billing and customer service teams, transforming the subscription experience for them and your customers. LISA’s platform not only automates subscription billing and management processes (which is a revelation in itself), but it’s specifically designed to make it easy for teams to collaborate. Key features of LISA include: End-to-End Automation: LISA automates your entire-end-to-end process from invoicing to renewals which reduces mistakes AND keeps up with subscription sales and offerings. Digital Capabilities: Your billing, sales, and customer service teams can access real-time data and analytics when they need it. This means they can make informed decisions and handle any customer issues fast. Ease of Use: LISA simplifies the subscription management process, freeing up your teams’ time so they can coordinate their efforts and provide a seamless customer experience. By learning from Grouchy and Napoleon, we can recognize the importance of coordination and communication in achieving success. Uniting billing and customer service teams will change your subscription management experience. It will make your teams far more happy and far less stressed. It will increase your customer satisfaction, and foster long-term loyalty. With these strategies in place, you’ll never have to watch your world crumble at breakfast over a bowl of strawberries.
Minty Fresh Pricing and Packaging: How to Meet the Needs of Every Customer Segment
There’s one big reason why your teeth sparkle and taste so minty fresh after you brush them in the morning. Can you guess what it is? Exactly right- customer segmentation! Okay, maybe that isn’t the answer you were thinking about. But we guarantee you it’s the right one. In fact, the modern toothpaste story is the perfect way to talk about segmentation and why it’s so icy and exhilarating. Back in the late 19th century, toothpaste was a luxury item targeted at the well-off, who could afford this “novelty” for oral hygiene. As time went on, and it become more affordable, everyone started buying it. The problem was that not everyone had the same mouth. And it was horrible - after all, they put soap in it! But companies started realising there were different customer segments with varying needs. Take fluoride toothpaste as an example. Though it was technically available after 1914, once Crest introduced it in 1956, a new segment was unveiled: customers interested in cavity prevention. Then companies realised people might want different tastes in their toothpaste, so they expanded it to spearmint. Peppermint. Cinnamon. Black liquorice. And a million others. Then, another segment – those who wanted white teeth. And another one - people who wanted to manage tooth sensitivity. Other segments popped up- children, dentures, people who like sparkles, people with too much tartar, and people with gum disease. Now consumers can get the kind of toothpaste they want- even something super specific like purple sparkly cupcake-tasting toothpaste that whitens your teeth. All that choice is much better than soap-flavoured toothpaste. And it’s the same principle for pricing and packaging segmentation. The more clear the segments, the better customised the pricing and packaging. Whether it's offering different subscription plans, bundling products or services, or providing discounts, customization is the key. Just like purple cupcake flavor toothpaste won’t work for someone with raging halitosis, one subscription offering might not meet every customer's unique needs. But by offering varied plans and pricing models, you can ensure every customer feels valued and understood, thereby increasing revenue and customer satisfaction. Best Practices So, how can we best customize pricing and packaging? A few best practices include: 1. Regular Reviews Markets change. People change. And so do their preferences and situation. Keep your strategies fresh with regular reviews. 2. Transparency Customers value honesty. Be transparent about what your packages include and their cost. No one likes unpleasant surprises, and once trust is gone, it’s really hard to get it back. 3. Flexible Subscription Plans Rigidity can be the death of a business in an industry that thrives on innovation. Subscription plans need to be as flexible as the products they offer because when you cater to each customer’s needs, they'll appreciate the personal touch. 4.Value-Added Services You know how frustrating it is when a company you’ve bought from forever suddenly rewards its new customers. Do the opposite. Reward customers who stay. Value-added services can set you apart, delight customers, and build loyalty. The Foundation You’re Looking For So what is it that fuels the segmentation that enables the best practices of customised pricing and packaging? Good data analysis gives the segments you need. By tracking customer behavior and preferences, you’ll see the patterns, understand needs, and then forecast trends. Without it, you're flying blind and might make all kinds of mistakes - like creating a premium plan that nobody wants. Or launching a product no one needs. In the subscription world, you need to know who your customers are, what they need, and how much they're willing to shell out for it. It will mix customer buying behaviour with KPIs like Monthly Recurring Revenue, Customer Acquisition Cost, and Customer Lifetime Value. You’ll get a continuous evaluation about how well your strategies are working, and if not, they signal it's time for a change. In other words, you’ll know which packages work for which people so that you can constantly adjust. Then your data analysis crunches all these numbers together and helps categorise everything into your segments. And then you learn more about the people who are your customers. Are they the 'Just-the-Basics' type, or the 'All-in-Premium' people? Have some lost money recently, so they’re in the ’Cost-Sensitive' segment? Got some tech heads who are 'Feature-Hungry'? Here’s an exercise for you. Look at the emails or mailings you get from places where you regularly shop. Do you reckon the communication is generic, or do you think they’ve got you down to a tee? Sometimes, brands are overt about it, with phrasing like ‘as someone who likes a bargain …’. These people have done the data analysis legwork and, it’s no surprise that they’re much more successful than those that haven’t. Data analysis takes the pain out of guesswork and lets you know how many people fall into which categories.But where to find the data analysis capabilities you need? Enter LISA, Bluefort’s Licence and Subscription Automation product suite. This tool can streamline subscription management and optimize your pricing and packaging strategies. It helps you test different pricing strategies, track customer behavior, and automate operations. With LISA, you can efficiently maneuver through the maze of subscription management, ensuring no byte of data or customer segment is left behind. Remember, the essence of the toothpaste story is success and growth coming down to recognizing and addressing the needs of different customer segments. In the B2B subscription world, this translates into customizing pricing and packaging. By doing so, you're not just selling a product or service; you're delivering value and satisfaction. As you go about your day, let that minty freshness remind you of the power of customer segmentation and understanding them. So, go forth and segment, customize, and conquer. Because your customers deserve nothing less. And neither do you.