What’s your plan?

Over the years, I’ve seen dozens if not hundreds of SaaS startups make one crucial mistake.

• The founders have a fantastic idea and cool technology.

• Market fit is terrific… it solves a real problem, and people want to purchase.

• Their dazzling pitch deck includes how many customers they will obtain and how quickly, with an astonishing 95% retention rate baked in, with no actual plan for this.

This always reminds me of that South Park episode: The Underpants Gnomes.

I love your optimism! I love your moxie! I love your confidence!

However, if your business model only works (i.e.: makes money) if you attain this lofty goal for retention, you better have a plan for how you’re going to make that happen.

Now, I’m not saying you must button up all the details before you get funding, but I am saying give it some thought.

Here are some key areas to consider:

In- App Onboarding

When a brand-spanking new customer logs into your site, how will they know where to go? What do they need to do first, second, third? How do they quickly get to that First Value?

You believe they will just intuitively KNOW.

Here’s a hard truth: They will have NO CLUE.

As the creator of your game-changing application, you have spent countless hours inside the platform. You know it like the back of your hand, so it’s likely impossible for you to view it with fresh eyes…the way a new customer will. What seems absolutely fool-proof to you will be a complete mystery to your users.

Consider in-app tours to orient customers to your site, and GUIDE them to that initial AH-HA! moment.

Email Drip Onboarding

Are you seeing a theme here? Yep, onboarding is the first and most critical step in customer retention.

If they don’t know how to use your application and gain value from it, you can bet they will not renew their subscription. A tool that doesn’t help people achieve their goal is not something they will pay for.

You can align an email drip campaign to your in-app onboarding to reinforce the path. Then continue to interact with customers to draw attention to key features and benefits.

This works for B2C and B2B companies, and it’s a minimal investment that can cover high volume transactions.

Get Green Playbooks

If a customer hits a bump in the road, how will you handle it?

They need tech support, they are not adopting key features, or they just plain aren’t logging in.

First and foremost, you must have systems in place to identify when these warning signs happen.

Next, since each of these represent an area of churn risk, and you should have a plan in place for getting these scenarios back on the path to retention.

If you’re an enterprise software company, you may think these things don’t apply to you…but that’s not true. Even if you offer (or require) professional services to onboard new clients, you need to have plans in place for users at the client account who onboard after your consulting engagement is finished.

Plus, consider how you will continue to interact with these client accounts during their customer journey through adoption, renewal, and expansion.

More on all these topics in other blog posts!

Ready to get your plan in place?

Contact me and let’s get you on the path to success!