To help you run your business you need to look at financial reports. These can provide you with insights into your company’s performance in the past and present, as well as provide you with information to help you in the future markets.
Billing customers is one of those activities that must be done. Without it customers won’t pay. It takes time to create invoices and send them off to your customers; this time is not very productive and limits your revenue generation. Many businesses, especially small businesses, consider this just part of the administration time and accept the cost but it doesn’t have to be wasted time.
Subscription billing automation is a great tool that can free up time for you sales team enabling them to focus on activities that are really important and more aligned with their core roles. Research has demonstrated that when automation is used by businesses, teams become more focused and performance is improved significantly. This can help your sales team to develop better quality leads and close more deals.
It is often seen as the joke of many comedies, the hated activity and a cause of wasted afternoons. No, completing tax documents doesn’t have a great reputation. Yet, to avoid repercussions, it has to be done.
When you are running a business, whether it is an online SaaS business or a local grocery store, you need to ensure that your key operational metrics are healthy. These vital goals and achievements give you the pulse of your business; they let you know what direction you are going in and what improvements are required to keep you operating.
If there is one area of your business’ operations that is often neglected when it comes to selling it’s your invoices. Invoices are guaranteed to be read by every customer, as they want to know how much to pay you and by when. At the same time you have a higher chance of creating a sales opportunity if your customer is happy.
Customer lifetime value is an important metric for any business to examine. It lets you know the total value of your customers from their first purchase to the last. The problem is that many businesses measure this infrequently and don’t compare the results to previous findings.
When you are creating a subscription style business the toughest aspect is creating enough reason for the audience to commit to a recurring payment. Some customers may not see the reason to regularly use a subscription service. Instead they might only be interested in using a short-term service to help them improve something immediately and then not engage again until the problem re-arises.
With Halloween around the corner we thought you would like an infographic that shows what Zombie's and manual billing processes have in common. We break down the similarities and provide you some scary stats. Click on our friendly Zombie to see our infographic.
Discounting your products can be an excellent way for your business to attract new customers and generate higher sales. But the problem is how do you offer discounts to customers for your SaaS product? You can’t offer a discount on your monthly subscriptions as this can seem to devalue your product. The best option should be to offer a discount for annual subscriptions.