YOUR EXISTING CUSTOMER BASE

It’s astonishing how overlooked the power of recurring revenue is [still] in the 21st Century.

Having a subscription base of paying customers is profoundly important in B2B SaaS. They‘re a goddamn GOLDMINE of revenue if you know what you‘re doing. It’s a money pit if you don’t.

Don’t believe me? That’s one less option your competition has to worry about sniping clients.

It’s time to make some changes. What got you here won’t get you there.

This new year gives you a fresh start to make the lasting changes you need to compete and win in a sea of sameness.

To scale your business using THE BEST WAY FOR LONG-TERM market viability is by starting to build on the success of the clients you already have.

Existing SaaS customers are more likely to:

  • Buy a new product or service (50% more than a prospect)
  • Increase their spend, usage and footprint via upsell or cross-sell (adoption / expansion)
  • Offer referrals, testimonials and case studies for marketing and sales collateral
  • Provide real-time feedback for product led growth…(outside in is the new inside out)

The list goes on and on…

Not to mention, existing customers make up roughly 50–70% of any SaaS or technology company’s annual revenue.

More on the importance of existing customers and your B2B’s future here.

Jump-start your recurring revenue today motion today with 2 actions:

The best action(s) any B2B SaaS Company can do to safeguard and insulate their business from customer and employee churn and the failure to deliver on client outcomes are:

Invest in the Customer Experience (CX)

Own every step of the user journey by adding a Customer Success Platform like GainSight, Totango, or ClientSuccess to your tech stack. (Use G2 Crowd to compare user reviews, use Gartner Magic Quadrant for in-depth market analysis)

Design and implement Customer Lifecycle Management (CLM)

Define the activities and outcomes of your account, customer success, and sales teams — along with every other person that impacts the experience your clients have using your product. This process should optimize your internal resources while maximizing the time-to-value and realized value for ascension and desired based client outcomes.

Originally published at https://medium.com/@aaronrcowell/the-best-way-to-scale-in-saas-isnt-new-it-s-overlooked-1de2e1ee551f