retention in saas using superreceptionist - what, why & how?
TRANSCRIPT
Retention in SaaSWhat, Why & How
Prashanth H N Product Head, Knowlarity Communications
M E E TSuper
ReceptionistKnowlarity’s cloud based Plug N Play Contact Center Suite
We fix business communications problems using Super Receptionist
Dial 1
Welcome Message
Call connected to extension defined
by you
Dial 2
Calls your business phoneSMS + Email
Receive notification
Listen to call
Custom messages - Advertise, Promote, Product info, Support etc.
Customer
Sales
Voicemail
Lesser wait on calls Big Brand feel
ForYour Consumers
One number for life Delightful experience - Many ways of
connecting with you
ForBusinessesBig Brand Image for
your business!Never miss a business
call!
Record customer calls! Real Time & fast engagement!
Benefits both the business and the consumers
Retention in SaaSWhat, Why & How
1 - 1 + 1 = 1
Unit Retention
Revenue Retention
Key Terms
CACCustomer Acquisition Cost
Churn Rate
LTV/CLV Customer Lifetime Value
CAC Payback
Must read: Practical guide to SaaS Metrics
4 Main Reasons for Retention
Satisfaction
Delight
Success
Switching Costs
Customer Value
CLV = Margin * (1+r)/(1+i-r) - CAC
Levers for Increasing CLV
● Margin ↑● Retention Rate (r) ↑● CAC ↓
Retention is the most influencing & scalable factor
Practical Approaches to calculate CLV Link1 Link 2
Sales gives just 30%
Retention brings 70%Image Source
Retention & Valuation
Image Source
How to attack
Feedback
Data Driven
Segment & Serve
Tools
Feedback
● Customer Surveys (various phases)
● Customer Support
● Product Metrics
● Sales/Success
● Customer Interviews
● Social Media
Why churn? (Data)
Too less information to take any action
Source: Churn analysis by Janardhan Prasad
Why ? Again
Break it down further, now getting somewhere
Source: Churn analysis by Janardhan Prasad
Why ? Again & Again
● Stability
● Need Training
Finally Top Reasons
● No onboarding● Late onboarding● Not linked with business listing
When Churn Happens ? (Data)
Why 12 & 15 ?
Source: Churn analysis by Gaurav Lakhani
Predict churn with Data
Alerts based on Behaviour #
● Number of sessions
● Number of Calls
● Time spent per session
● Usage across months
● Usage against similars
For Sure High Low
# A mathematical formula with combination of these attributes
You cannot improve what you cannot measure
Good discipline for Data
● Usage Drill down
● Always updated Customer Information
● Granularity & segmentation on feedback
● Link them all (Overwhelming :O )
● Benchmarked v/s Actual
● Periodic review & Actions
Segment & Serve
Spend on these customers
Grow these Customers
Focus on Cost
Fire Them?
Servicing cost
All Customers are not Equal
Credits: Prof. Sundar Bharadwaj
Segment
Demographic
Geographic
Verticals
● SMB
● Enterprise
● Strategic Focus
● India
● Southeast
● EMEA
● e-commerce
● realestate
● Startups
Only You know your customers best #
● Engagement
○ Product driven
○ People, events, success
○ Training
● Product
● On-boarding
● Payments
What drives retention?
# This is what works for us, you need to narrow down to your Top 4
Support● Channels: Chat, Phone, email, Social media
● Tools: Superreceptionist, Freshdesk, Zendesk, Desk, Intercom, Snapengage, Live chat, Freshdesk Chat, Zendesk Chat
Tools
Engagement● Channels: Chat, Phone, email, Social media, webinars, events
● Tools: Superreceptionist,, Intercom, UserEngage, Resend, Jet link, mailchimp, Hangout Air
Up sell/Cross sell● Channels: Chat, Product, Phone, FOS
● Tools: Superreceptionist, SugarCRM, Zoho CRM, intercom
Tools more...
Onboarding● Channels: Phone, product
● Tools: Whatfix, Hopscotch, WalkMe
Usage Data● Channels: Product, Support, Integrations, mentions
● Tools: GA, Usage logging (DB), Mixpanel, CrazyEgg, Lucky Orange
Tools more...
Data Analysis & Dashboards● Tools: Metabase, Google Sheets, Google Data Studio, Quicksight
SuperReceptionist Integrations & APIs
Integrate telephony with any tool with the out of the box integrations or
simple & powerful APIS
