How SaaS companies can use customer behavior and data to reduce customer churn
Summary
Things were much simpler then — sales reps leveraged customer relationship management (CRM) software like Salesforce to go from one new business opportunity to the next. Today we live in an era where recurring revenue is king and a sales rep’s job doesn’t end after closing a new customer lead. The sustainability of successful (and scalable) SaaS companies is focused on a modern sales process of closing new customer leads, quickly followed by an integrated company-wide approach across success, product, and engineering to ensure that new customers are happy and continue to pay, renew, and purchase additional services. One of the most common mistakes in addressing customer churn is relying too heavily on your personal intuition and experience to dictate a company’s short and long-term strategies. Fortunately we live in an age where you can leverage data science to decode customer behavior and use your intuition as part of the final equation.