Bookmark this collection of resources all about customer retention and stop churn in its tracks.
Customer retention is one of the biggest metrics in SaaS and a key component in any SaaS company’s strategy. Cultivating a high retention rate will set you up for long-term success. Here are 10 articles and webinars that focus on the foundational aspects of customer retention and best practices to create a best-in-class customer retention strategy.
What is Customer Retention?
Customer retention refers to the strategies used to keep customers from spending their money elsewhere. When a customer leaves, it’s known as churn. A successful customer retention strategy will build symbiotic business relationships, drive brand equity, and encourage customer loyalty amongst your customer base.
Benefits of a Customer Retention Strategy
Customers can leave your company for many reasons—your biggest advocate left for another company, they didn’t get any value, they weren’t a good fit—the list goes on. A customer retention strategy does more than just keep customers from leaving. Good customer retention strategies:
- Proactively prevent churn
- Promote customer loyalty
- Create long-term, exponential growth
- Are more cost-effective than acquiring new customers
- Make you more appealing to investors
Blog Posts: Boost Your Customer Retention Strategy
This article will give you the rundown on the importance of a customer retention strategy and how to tackle the common causes of churn. You’ll also learn how to calculate Gross Renewal Rate (GRR) and Net Retention Rate (NRR) and the difference between the two metrics.
The renowned Sun Tzu once wrote, “If you know the enemy and know yourself, you need not fear the result of a hundred battles.” Read up on your number one enemy, churn, in our Essential Guide to Churn. Get to know it inside and out—learn its weaknesses and its many forms so you are fully prepared to defeat it.
Learn how to forecast renewals like a pro. This article demonstrates how to leverage machine learning to turn your data from numbers soup to usable insights. It also covers important metrics and best practices for centralizing your entire renewals process.
Only focusing only on growth but not on retention is like pouring water into a cup with a hole in it. No matter how much you pour in the top, it’s never going to be full. Read this blog post to learn how you can optimize your retention strategy to prevent “leaky holes.”
If you’re not giving renewals the energy or attention they need, you’re missing out on a gold mine. But where should you start? This blog post will put you on the right path with five areas to focus on. Chances are, your business already has customer data, all that’s left is to put it to work!
This guide is a crash course on the buzzwords that make SaaS, well, SaaS. Learn the benefits of recurring revenue, how to calculate the metrics that matter, the difference between expensive and lean revenue, and much more. If you have teammates that are new to the SaaS world, this is a fantastic primer for them.
“If you need more revenue, invest in Sales.” Our CEO addresses this common argument in his article and shares why companies should reconsider this “kneejerk” response.
Webinars: Customer Retention Strategy Examples
One of the most volatile moments of the customer journey is onboarding. Get it right and you have a customer that will keep coming back, get it wrong and you’re down some major dollar bills. This webinar, featuring Taskfeed’s founder, Andrew Mahood, and GM of Gainsight EMEA, Dan Steinman, provides you with playbooks to scale your onboarding process—because churn waits for no one.
Customer success has come a long way over the past decade. More and more companies are realizing that if they truly want to prevent churn, organizations need to work together. In this webinar, Bob Slaby, Chief Customer Officer at Altify, and Bryan Hamblin, Chief Sales Officer at Gainsight, share actionable tactics to team up and drive growth at your company.
Handoffs are such a critical part of the customer journey. If they're disruptive, they'll impact customer satisfaction, customer success, and customer churn. In this webinar, Jamie Cole, VP of Marketing and Product at Taskray, Tyler McNally, Sr. Director of Customer Success at Gainsight, and Meenal Shukla, Sr. Client Outcomes Manager at Gainsight, provide a detailed framework for operationalizing the handoff between Sales and CS.
See How Gainsight Can Improve Customer Retention
You've studied up on best practices, now it's time to put them into action. Gainsight helps customer-centric SaaS companies improve customer retention and grow through their product. Sign up for a personalized demo to see how Gainsight can help you deliver consistent value to your customers.
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