Starting this process of improving your SaaS renewal revenue may albania telemarketing seem daunting, so we’ve put together some tips to simplify it and help you boost your renewal rates in an efficient and targeted manner. Before you begin, we highly suggest reading our articles focused on onboarding and customer success, as these aspects should be the focus of your customer efforts to boost not only retention but customer lifetime value. Together with constantly measuring renewal rates, applying these tactics will most certainly help you increase profits.
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Act Early
You don’t want to scramble to get your customer base to renew their monthly subscriptions when your renewal rates are tanking and your business is in danger. Instead, you should be re-acting when you spot even the slightest signs of trouble. Customer satisfaction in crucial for all SaaS businesses. Being proactive rather than reactive is the name of the game here.
One way to do this is to perform renewal research up to 90 days before a customer’s subscription is due to expire. Email them 60 days before the expiry date to acknowledge the impending opportunity for renewal. Then take them through the renewal process a month before the subscription ends. Send out friendly reminders and hold the customer’s hand throughout the process. If you spot a trend of renewal-related problems, you can address them immediately.
