How to Increase The Life Time Value of Your SaaS Customers
Would you love if your SaaS customers spent more money, and stuck around forever? Here’s how you increase your life time value of your SaaS customers.
Step #1: Optimize the onboarding flow – when someone signs up what they do right then and there will affect their life time value more than anything else.
If someone uses you software heavily, they are more likely to stick around. If they just leave, they probably won’t pay or stick around forever.
By using Crazy Egg you can optimize your user onboarding flow.
Step #2: Analyze usage – usage means high LTV. Low usage means churn. From email follow-up, to reminders, you want to get people engaged.
Building a good product also helps with usage. Just look at Slack they do really well because people love their product.
Step #3: Survey your users – ask them what they like and what they don’t. Talk to them on the phone to figure out how you can create a better product.
Data isn’t enough. You need to talk to your customers. By getting their feedback you will be able to create a better product, user experience and eventually increase your life time value.