Keys To Successful Subscription Marketing
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Slides from my session at the Gilbane conference 2015. Recurring Revenue: Why Subscription Models are the New Hot Business Model (Again) Wednesday, December, 2: 4:00 p.m. - 5:00 p.m. There are those who have been “doing” subscriptions longer than many - newspapers, newsletters, journals, and magazines, to name a few. While traditional publishers are evolving and still thriving, today subscriptions are a hot "new" business model being used to sell anything and everything from information, data, software, music, services, articles, books, cars, make-up, and apps -- pretty much anything one can imagine being sold on a recurring basis. (Yes, even underwear.) In this session we will walk through the drivers and strategies businesses need to keep in mind launching and scaling subscription revenues. We will also walk through case studies and war stories direct from publishers, SaaS, data and other subscription-focused businesses. Moderator: Kathy Greenler Sexton, CEO & Publisher, Subscription Insider Panelists: Catherine Giffi, Director, Strategic Market Analysis, Wiley Jim Fosina, CEO & Founder, Amora Coffee & Tea and Fosina Marketing Group Dan Burkhart, CEO, Recurly Peter Figueredo, Founding Partner, Subscription Practice Lead, & Head of Client Services, House of Kaizen
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The 6 Metrics Every Subscription Business Needs to Track
• 3. We’ll cover...1 The metrics we like to track...2 The metrics we NEED to track3 Q&A
• 4. WHY DO METRICSMatter?
• 5. They tell us if we’re succeeding
• 6. Great metrics help us work on the right projects
• 7. THE METRICS WE LIKEToo Much
• 8. Total users
• 9. Pageviews and visitors
• 10. Vanity metrics are a distraction
• 11. We need metrics that track our business
• 12. Metric #1 MONTHLY RECURRING Revenue
• 13. What is monthly recurring revenue (MRR)?
• 14. SaaS depends heavily on recurring revenue All your costs are up front. And it takes a long time to turn a profit on a customer.
• 15. MRR best practices
• 16. Metric #2 USER AND REVENUE Churn
• 17. Churn is the percentage of people that bail
• 18. High churn = pain, low churn = win
• 19. Churn starts low but grows quickly If customer growth is constant, churn will eventually match it. You’ll stop growing.
• 20. 100 new customers per month at 10% churn 800 600 Customers 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar
• 21. High churn = improve your product
• 22. Once you have control of churn... To keep growing, you’ll need to acquire customers faster every month.
• 23. Churn best practices
• 24. Metric #3 AVERAGE REVENUE PER Customer
• 25. Average revenue per customer
• 26. Up-sells and cross-sells are the key
• 27. Up-selling = get them on a higher plan
• 28. Cross-selling = sell more stuff
• 29. Average revenue best practices
• 30. Metric #4 LIFETIME Value
• 31. There are many different ways to calculate LTV LTV combines current revenue with churn to predict how much you’ll earn in the future.
• 32. Different from average revenue per customer?
• 33. LTV best practices
• 34. Metric #5 COST PER Acquisition
• 35. What’s the cost to acquire a new customer?
• 36. The importance of CPA
• 37. Get CPA for each marketing campaign
• 38. CPA best practices
• 39. Metric #6 THE SIGNUP Funnel
• 40. Track each step to becoming a customer
• 41. Don’t forget to track activation Activation = Someone uses a core part of your product for the first time
• 42. Funnel best practices
• 43. CAN WE TRACK THESE IN Analytics?
• 44. Google Analytics can’t track any of this.
• 45. You need to connect revenue to customers.
• 46. A customer analytics revenue report
• 47. We can also segment by traffic source
• 48. Where do we get customer analytics?
• 49. Two metrics you’ll need to pull by hand (for now)
• 50. KISSmetrics will track these metrics for you
Driving Customer Success in the Subscription Economy by Nick Mehta, CEO of Ga...
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
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Visit totango.com to view the entire webinar and hear their insightful commentary that accompanies these slides and Q&A.
Subscribed 2016: The Enterprise Shift - From a Perpetual to a Subscription Bu...
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The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
Subscribed 2015: The Subscription Maturity Model? Where do you fit?
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Recommended
The 6 Metrics Every Subscription Business Needs to Track
• 3. We’ll cover...1 The metrics we like to track...2 The metrics we NEED to track3 Q&A
• 4. WHY DO METRICSMatter?
• 5. They tell us if we’re succeeding
• 6. Great metrics help us work on the right projects
• 7. THE METRICS WE LIKEToo Much
• 8. Total users
• 9. Pageviews and visitors
• 10. Vanity metrics are a distraction
• 11. We need metrics that track our business
• 12. Metric #1 MONTHLY RECURRING Revenue
• 13. What is monthly recurring revenue (MRR)?
• 14. SaaS depends heavily on recurring revenue All your costs are up front. And it takes a long time to turn a profit on a customer.
• 15. MRR best practices
• 16. Metric #2 USER AND REVENUE Churn
• 17. Churn is the percentage of people that bail
• 18. High churn = pain, low churn = win
• 19. Churn starts low but grows quickly If customer growth is constant, churn will eventually match it. You’ll stop growing.
• 20. 100 new customers per month at 10% churn 800 600 Customers 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar
• 21. High churn = improve your product
• 22. Once you have control of churn... To keep growing, you’ll need to acquire customers faster every month.
• 23. Churn best practices
• 24. Metric #3 AVERAGE REVENUE PER Customer
• 25. Average revenue per customer
• 26. Up-sells and cross-sells are the key
• 27. Up-selling = get them on a higher plan
• 28. Cross-selling = sell more stuff
• 29. Average revenue best practices
• 30. Metric #4 LIFETIME Value
• 31. There are many different ways to calculate LTV LTV combines current revenue with churn to predict how much you’ll earn in the future.
• 32. Different from average revenue per customer?
• 33. LTV best practices
• 34. Metric #5 COST PER Acquisition
• 35. What’s the cost to acquire a new customer?
• 36. The importance of CPA
• 37. Get CPA for each marketing campaign
• 38. CPA best practices
• 39. Metric #6 THE SIGNUP Funnel
• 40. Track each step to becoming a customer
• 41. Don’t forget to track activation Activation = Someone uses a core part of your product for the first time
• 42. Funnel best practices
• 43. CAN WE TRACK THESE IN Analytics?
• 44. Google Analytics can’t track any of this.
• 45. You need to connect revenue to customers.
• 46. A customer analytics revenue report
• 47. We can also segment by traffic source
• 48. Where do we get customer analytics?
• 49. Two metrics you’ll need to pull by hand (for now)
• 50. KISSmetrics will track these metrics for you
Driving Customer Success in the Subscription Economy by Nick Mehta, CEO of Ga...
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation by Nick Mehta, CEO of Gainsight, is all about Driving Customer Success in the Subscription Economy, something Enterprise Software-as-a-Service ( SaaS ) vendors must embrace if they wish to succeed at the highest levels.
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Don't get lost in space! Understanding SaaS metrics is no rocket science.
We recently got a lot of user request to explain and detail critical SaaS metrics.
Not only lifeless definitions but also how they're calculated, why they are useful and how they are connected to each other.
This guide gives you a simple to understand introduction into SaaS metrics. So, we grouped them into three parts: acquisition, retention and revenue.
And these are some of the metrics, we're going to introduce:
Customer Acquisition Cost (CAC), User Churn, Retention Rate, Revenue Churn, Customer Liftime Value (LTV) and Monthly Recurring Revenue (MRR).
Enjoy!
SaaS Metrics Masterclass: What Key Business Metrics, Pricing Strategies, and ...
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Industry leaders, Zuora and Totango, present which metrics truly give an accurate picture of the health of your subscription business. Which metrics should you calculate and optimize on - ARR, GEI, CRC or other ratios?
Chief Financial Officer, Tyler Sloat from Zuora shares 3 metrics they measure for their company and track against other best-in-class subscription companies. Chief Marketing Officer, Kaiser Mulla-Feroze from Totango, also presents a couple key metrics he finds missing from the boardroom discussions.
Visit totango.com to view the entire webinar and hear their insightful commentary that accompanies these slides and Q&A.
Subscribed 2016: The Enterprise Shift - From a Perpetual to a Subscription Bu...
Transforming a traditional enterprise business into a subscription business requires a huge shift - from product focus to customer focus. Learn the 6 core steps to building a subscription business from Wolters Kluwer, a global corporation that successfully made the shift.
Check out Zuora Academy for more actionable advice for finance, marketing, tech, operations, product, and more. All the info you need to build and run an amazing subscription business: https://www.zuora.com/academy/
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The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
Subscribed 2015: The Subscription Maturity Model? Where do you fit?
A subscription business is a relationship business. Subscription approaches need to support customers that wish to ease into a relationship with the product or service as well as those that are deeply committed. Learn about this new subscription maturity model that provides a framework of stages, critical measures, outcomes, and actions required for the effective management of subscription approaches.
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- Unit economics
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• 3. We’ll cover...1 Right and wrong ways to pick a price2 The two stages of pricing3 7 rules to give your pricing the edge
• 4. Price has a MASSIVE impact on your business.
• 5. Bad Methods for Pricing
• 6. 1. Product cost + X% You’ll undercharge some customers and overcharge others.
• 7. 2. What does the customer want to pay? People have no idea until you ask them for their credit card.
• 8. Pricing by Value
• 9. Value-Based Pricing Your customers get value worth $Y and it only costs them $X.
• 10. Why does this work? People cannot perceive absolute value, only comparative value.
• 11. Some value is easy to calculate...
• 12. Other value isn’t...
• 13. Pricing - Stage 1 1
• 14. Stage 1 is all about the unknown. Customers don’t understand your product and you don’t understand your customers.
• 15. This is before product/market fit.
• 16. The price you pick won’t be the best.
• 17. Your goal = prove that the product can be sold.
• 18. Pricing - Stage 2 2
• 19. This is your growth stage.
• 20. Time to optimize your price. You’ll need a deep understanding for how your customers use your product.
• 21. Interview your customers
• 22. The ideal price is... Just high enough to need consideration but low enough to still provide plenty of value.
• 23. What if you have different customer segments?
• 24. Separate segments with features. Price sensitive customers get limited plans, value sensitive customers get the VIP plan.
• 25. For this to be successful... You need to talk to your customers and understand the benefits they need the most.
• 26. Capture the full value from each customer type.
• 27. Bidsketch Case Study - Old Pricing
• 28. Bidsketch Case Study - New Pricing
• 29. Bidsketch Case Study - Results1 Doubled average revenue per customer2 Only a slight drop in conversions3 No impact on churn Google “bidsketch pricing post”
• 30. Seven Rules for Pricing 7
• 31. Rule 1: End with a 9 $39 or $37?
• 32. Rule 2: Make Your Price Short $1,000.00 or $1000?
• 33. Rule 3: Anchor Your Price 1 That product is $100, this is only $10 2 Was $150, now only $80 3 Value of $1500, selling for only $150
• 34. Rule 4: Offer Multiple Prices
• 35. Rule 5: Double your Price People tend to UNDERvalue their services.
• 36. Rule 6: Be Careful With Freemium Plans Very difficult to make it work outside of mass markets.
• 37. Rule 7: Grandfather Old Customers In As long as you don’t raise prices for old customers, you won’t get any complaints.
• 38. These are rules, not laws.
• 39. Your 3 Tools for Getting It Done
• 40. 1. The Customer Interview
• 41. 2. A/B Testing
• 42. 3. Customer Analytics
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The Actionable SaaS Metrics series goes beyond measuring and calculating. It takes a deeper look at some characteristics of common subscription metrics, with the goal of identifying key actionable steps to optimize them for your business.
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Deloitte - Andy Main, Customer Solutions Leader
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- An intro to SaaS metrics
- Unit economics
- LTV and churn: An in-depth look
- Variable pricing axes
- Months to recover CAC
- The primary unit of growth: Sales
- Understanding public SaaS companies
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• 3. We’ll cover...1 Right and wrong ways to pick a price2 The two stages of pricing3 7 rules to give your pricing the edge
• 4. Price has a MASSIVE impact on your business.
• 5. Bad Methods for Pricing
• 6. 1. Product cost + X% You’ll undercharge some customers and overcharge others.
• 7. 2. What does the customer want to pay? People have no idea until you ask them for their credit card.
• 8. Pricing by Value
• 9. Value-Based Pricing Your customers get value worth $Y and it only costs them $X.
• 10. Why does this work? People cannot perceive absolute value, only comparative value.
• 11. Some value is easy to calculate...
• 12. Other value isn’t...
• 13. Pricing - Stage 1 1
• 14. Stage 1 is all about the unknown. Customers don’t understand your product and you don’t understand your customers.
• 15. This is before product/market fit.
• 16. The price you pick won’t be the best.
• 17. Your goal = prove that the product can be sold.
• 18. Pricing - Stage 2 2
• 19. This is your growth stage.
• 20. Time to optimize your price. You’ll need a deep understanding for how your customers use your product.
• 21. Interview your customers
• 22. The ideal price is... Just high enough to need consideration but low enough to still provide plenty of value.
• 23. What if you have different customer segments?
• 24. Separate segments with features. Price sensitive customers get limited plans, value sensitive customers get the VIP plan.
• 25. For this to be successful... You need to talk to your customers and understand the benefits they need the most.
• 26. Capture the full value from each customer type.
• 27. Bidsketch Case Study - Old Pricing
• 28. Bidsketch Case Study - New Pricing
• 29. Bidsketch Case Study - Results1 Doubled average revenue per customer2 Only a slight drop in conversions3 No impact on churn Google “bidsketch pricing post”
• 30. Seven Rules for Pricing 7
• 31. Rule 1: End with a 9 $39 or $37?
• 32. Rule 2: Make Your Price Short $1,000.00 or $1000?
• 33. Rule 3: Anchor Your Price 1 That product is $100, this is only $10 2 Was $150, now only $80 3 Value of $1500, selling for only $150
• 34. Rule 4: Offer Multiple Prices
• 35. Rule 5: Double your Price People tend to UNDERvalue their services.
• 36. Rule 6: Be Careful With Freemium Plans Very difficult to make it work outside of mass markets.
• 37. Rule 7: Grandfather Old Customers In As long as you don’t raise prices for old customers, you won’t get any complaints.
• 38. These are rules, not laws.
• 39. Your 3 Tools for Getting It Done
• 40. 1. The Customer Interview
• 41. 2. A/B Testing
• 42. 3. Customer Analytics
• 43. KISSmetrics helps you find the right price 1 Know who to interview 2 Get A/B results from your whole funnel 3 Track WHO’s doing what
Subscribed 2016: 100 Years Young
Brands we know and love are creating new business models anchored on recurring revenue. Leaders from the most powerful and recognizable brand names in the world apply lessons from the startup world to 100-year old businesses.
Check out Zuora Academy for more actionable advice for finance, marketing, tech, operations, product, and more. All the info you need to build and run an amazing subscription business: https://www.zuora.com/academy/
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"Supercharge revenue with a value-based pricing strategy" by Patrick Campbell (CEO, Price Intelligently).
What you'll learn:
- The core principles that power the best pricing pages
- A framework for continually optimizing your pricing
- Easy changes that can boost your revenue
- The most common pricing mistakes
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Lifetime Value (LTV) can help your entire company understand the actual value that you can expect to receive from a single customer over the course of your relationship with them. It is the metric that tells you whether customers are happy and enjoying your product or that customers are ready to churn and you should reassess your strategy.
Here we walk through exactly how to calculate Lifetime Value (LTV), including what to and not to include in the calculation, as well as how to optimize this crucial SaaS metric.
7 ways to get more sales from your existing customers
Facts about customer relations.
What do you do to sell more to your customers?
Sales mistakes that can kill your saas business and how to avoid them
What does it mean to find your repeatable, scalable sales process?
Who should my first sales hire be?
How should I design my sales comp plan?
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Customer Success Plan Template
Now that you’ve developed your strategy to optimize customer usage, loyalty and renewal, use this Customer Success Action Plan template to outline the activities you and your team will implement in order to reach your goals.
Introduction to customer success
Customer success is gaining momentum and many companies are transitioning into the new model that puts the customer in the center of operations.
This is an introductory presentation which helps explain where does customer success feet in the grand scheme of things, what is the charter of this initiatives and what is Totango technology.
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In this webinar, we’ve partnered with Tri Tuns to discuss:
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Customer Success introduction by maturity levels. This is a presentation I've given at CEOQuest.
Many companies these days are considering various sorts of implementing customer success organization in order to retain and grow the customer base.
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