Scale Your SaaS 297: How to Reduce Churn and Get More Lost Customers Back - with Baird Hall
EPISODE SUMMARY
Software as a Service (SaaS) is a dynamic industry where success hinges on understanding customers, managing churn, and fostering growth.
In the recent episode of Scale Your SaaS, host and B2B SaaS Sales Coach Matt Wolach and Baird Hall, Co-Founder of Churnkey, shed light on pivotal strategies driving SaaS companies toward profitability and sustainability. Read more to learn how to navigate the SaaS industry and reduce churn.
PODCAST-AT-A-GLANCE
Podcast: Scale Your SaaS with Matt Wolach
Episode: Episode No. 297, “How to Reduce Churn and Get More Lost Customers Back - with Baird Hall”
Host: Matt Wolach, a B2B SaaS Sales Coach, Entrepreneur, and Investor
TOP TIPS FROM THIS EPISODE
- Understanding the SaaS Journey
- Strategies for Churn Mitigation
- Metrics Driving Subscription Health
EPISODE HIGHLIGHTS
- Lessons from the SaaS Journey
- The Power of Customer Education
- Nuggets of Entrepreneurial Wisdom
TOP QUOTES
Baird Hall
[08:34] “The first thing to understand is that the customer you're selling to, B2B individuals, different types of businesses, the person who you're selling to, and your pricing model and pricing point, all three of those things come together to determine really generally where your churn range is going to fall."
[17:48] "Understanding that when customers are canceling, a good portion of those that don't actually want to cancel, they would prefer to find a different arrangement. But because they can't, they will just cancel the product."
[21:05] "Segment your customers visiting or canceling; give them the right flow. Personalize the cancellation process, remind them why they came, and remind them of the value or the future they were trying to get to with your product. And then, based on why they say they're canceling, give them the right offer."
Matt Wolach
[14:22] "Reactivations is the one untapped metric for subscription health that many SaaS businesses aren't tapping into."
[20:12] "A lot of times, you talk to other founders, and you realize that your problems are not super unique, and your world's actually not falling apart, and things aren't as bad as you think they are."
LEARN MORE
To learn more about Churnkey, visit: https://churnkey.co/
You can also find Baird Hall on LinkedIn: https://www.linkedin.com/in/bairdhall/
For more about how Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com.
Get even more tips by following Matt elsewhere: