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.
It is well known that there are purchasing behaviours across industries. Retailers tend to get busy on days around the sale periods, like Black Friday and Cyber Monday and hotels will often be busy around the holiday seasons. The same can be said of your SaaS business.
Customers are all different and as such, not every customer will want to pay for aspects of your service they aren’t going to use. Being flexible in business, including your pricing, is essential if you want to achieve success. Yet for SaaS companies this can be a challenge. How do you manage customers who want to have a custom package and with it: a custom price?
There are going to be times when your business will see customers leave your subscription service. Although this is undesirable, there are several benefits and you can turn these moments into an opportunity. One of the best ways to turn a customer leaving your organisation into a benefit is by conducting an exit survey with them.
There are many factors that can affect your business’ cash flow. Not having a properly managed cash flow can be damaging to your ability to pay bills on time or allocate funds to marketing campaigns to take advantage of opportunities; one of the key aspects that can affect your business’ cash flow is your billing frequency.
When it comes to selling, there is one aspect that every customer wants – a trust indicator. This can come in many forms, such as client testimonials, awards, certifications, press acknowledgements or guarantees.