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Demystifying Sustainable Growth: 6 Steps to Increase Your Revenue | Webinar with Closed Loop

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There are plenty of ways to retain customers, but no single approach has taken hold for subscription businesses. Instead of running one-off initiatives, you can approach retention like a system.

These 6 steps to driving sustainable growth through retention cover how you can improve your product and processes by talking to customers at the best moment, the right way to go about segmenting your customers to increase LTV where it counts, and why you should think about your cancel experience like a churn funnel.

Presented by Guy Marion, CEO at Brightback

Published in: Software
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Demystifying Sustainable Growth: 6 Steps to Increase Your Revenue | Webinar with Closed Loop

  1. 1. Revenue Demystifying Sustainable Growth: 6 Steps to Increase Your
  2. 2. CEO & Co-founder guy_marion Guy Marion CEO & Founder Lance Loveday
  3. 3. SPECIAL OFFER: LET US TAKE A LOOK UNDER THE HOOD POTENTIAL UPSIDE:Spending >$50K/mo? Get a FREE AUDIT All we need is read-only access to AdWords, Facebook & other platforms and in a few days we’ll provide a free, detailed report showing you exactly how we can improve your performance. Visit: closedloop.com/audit CATEGORY RATING Key Metrics Spend Hierarchy Account Structure Account Settings Bidding Strategy Keyword Strategy Landing Page Ad Copy Creative 35-40%
  4. 4. ` Automated customer retention for high-volume subscription business !4 TOP-TIER INVESTORS INTEGRATIONS SELECTED CUSTOMERS
  5. 5. Automated customer retentionfor high-volume subscriptionbusiness Why retention? 2019 State of Industry How to build a churn funnel (6 steps) Summary Agenda
  6. 6. Automated customer retentionfor high-volume subscriptionbusiness Source: 2017 Pacific Crest SaaS survey forentrepreneurs.com/ 2017-saas-survey-part-2/ 2019 TECH IPOS: CUSTOMER RETENTION IS 🔥
  7. 7. $42M ARR lost in 5 years… due to high churn, nearly 4X the total ARR reached by ARR MONTHS SINCE LAUNCH 0.5% Gross Churn (-3.5% Net) 1% Gross Churn (-2% Net) 2% Gross Churn (0% Net) 4% Gross Churn (3% Net) $57M $16M $26M $40M The fastest growing companies retain more
  8. 8. it isPLUS 7x acquire 
 a customer more expensive to $ $ $ $ $ $ $ retain 
 a customer $ than to
  9. 9. Source: Survey of 332 subscription CEOs, executives, and founders State of Retention
  10. 10. of companies
 say customer retention… 97% 97% yes 2.8% no 2019 State of Customer Retention Survey is a big win!
  11. 11. Percent of companies that 
 feel retention is prioritized appropriately 68% B2B 44% B2C
  12. 12. of B2Cs offer bundles 51%58% of B2Bs test discount offers AND Companies turn to discounts and deals to retain customers
  13. 13. Churn funnel How to build a
  14. 14. 1 Ditch your exit survey and build a customer churn funnel
  15. 15. Saveable churn Non-saveable churn • Poor onboarding ⭐ ⭐ ⭐ • Needs or interests changed • Misunderstood product ⭐ ⭐ • Poor performance or reliability • Poor customer experience ⭐ ⭐ • Too complicated • Pricing: not seeing value ⭐ ⭐ • Downsize or gone out of business • New stakeholder or executive ⭐ ⭐ Customers are influenceable 20%of customers cancel 
 for the wrong
 reason
  16. 16. 2 Segment your customers and personalize their cancel experience Identify
  17. 17. START First value 
 (successful trial) Grow value 
 (deployment) Increase
 Users Increase
 Usage Expand Functionality Churn ChurnChurn Customers cancel throughout the lifecycle…
  18. 18. Segment users by key dimensions •Billing term •Usage •Age •Revenue •Plan/Product
  19. 19. Create loss aversion & celebrate past successes
  20. 20. 3 Understand categorically why customers leave Engage & Learn
  21. 21. Systematically build churn intelligence
  22. 22. Align short-term product fixes, success motions, and sales/marketing fit
  23. 23. 4 Test and evolve tailored save offers Engage & Learn
  24. 24. Pause your plan
  25. 25. Downgrade instead?
  26. 26. Name your price!
  27. 27. 5 Automate alerts and retention workflow in your GTM stack Retain Customers
  28. 28. Trial signs up Self-Service Sales Customer buys Expand Contract Customer Support / Retention Customer Data Customer Success Subscription MgmtCustomer Data Engagement New Instance Save Starts to Cancel Qualified Unqualified New subscription Subscription terminated Churn data Customer lifecycle tool stack
  29. 29. 6 The True North: incremental revenue Retain Customers
  30. 30. 3,573Identified 3,209 Canceled Watch List 20% 80% Test & evolve to grow your save rate Saved 51% 364 49% Engaged 714 Saved / Lost 10.1% Saved
  31. 31. Optimize for cohort performance
  32. 32. Agend a Ditch your exit survey and build a customer churn funnel Segment your customers and personalize their cancel experience Understand why customers leave Test and evolve tailored save offers Automate alerts and retention workflow in your GTM stack Optimize for incremental revenue Takeaways
  33. 33. SPECIAL OFFER: LET US TAKE A LOOK UNDER THE HOOD POTENTIAL UPSIDE:Spending >$50K/mo? Get a FREE AUDIT All we need is read-only access to AdWords, Facebook & other platforms and in a few days we’ll provide a free, detailed report showing you exactly how we can improve your performance. Visit: closedloop.com/audit CATEGORY RATING Key Metrics Spend Hierarchy Account Structure Account Settings Bidding Strategy Keyword Strategy Landing Page Ad Copy Creative 35-40%
  34. 34. Thank you! brightbackIO brightback.com Closedloop closedloop.com

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