Automating Your SaaS Business - Upward Exits

Automating Your SaaS Business

Rather than creating another list of tools to automate your SaaS business, the goal of this article is to help shine understand the importance of such tools.

Onboarding Your Customer for Success

One of the many reasons that SaaS customers will end up churning is largely due to the fact that they were not onboarded properly in the first place. It is essential for the onboarding process to be dialed in from the very first welcome email. When possible, sending a checklist to your customer is a useful way for them to know how far along they are in the onboarding process and when their onboarding process is officially complete.

For some software products and services, there is a lot of information that is important to gather from the client. Clarity is king.

 

For complex enterprise SaaS businesses, having a dedicated account representative for each customer can provide the personal touch that those account will likely need. Clarifying to the customer how communication will take place will free a lot of confusion later on. This automated flow of communication saves time, energy, and reduces churn.

Related

For more information on buying and selling SaaS businesses, have a look at our all encompassing guide here.

Automate Outreach and Followup

Oftentimes as business owners we assume that everything is fine with our clients or customers merely because we have not heard from them. We assume that no news is good news. However, more often than not, long gaps in communication can lead to increased churn. Some clients have questions or problems that they have not been able to solve and for whatever reason they have not reached out to your business for help. Having your dedicated account manager send automated followup emails once a month to check in on how the client can keep the channels of communication open and prevent a potential larger problem.

Streamlining Payments

When it is possible, we recommend using a payment processor that easily allows subscription based charges. The advantages of this are that the payments are entirely automated and it eliminates the need to send manual invoices and hire a part time or full time Accounts Receivable employee. 

 

Providing an option for customers to choose an annual recurring subscription for a discount compared to a month to month plan is another way to auto

 

Automated response to (almost) every type of question – let these answers be company wide – all customer support people know that the highest people in the business have signed off on these responses.

Engage Customers with Video Tutorials and Explainers

Creating video tutorials are a simple and effective way of walking customers through your software. While written documentation and have a robust Frequently Asked Questions (FAQs) is essential, including a library of videos to familiarize your customer with your software adds a human touch to your business. In addition, it allows your business to automate responses to questions that could be answered through a short video tutorial as opposed to having a dedicated customer service representative answering the same question repeatedly. 

 

Allowing your customers to see your face and hear your voice is a powerful tool in building loyalty to your business and product.

Combining any number of these automation practices will ultimatley make your business easier to manage and therefore more desirable to buyers. If you have considered selling your SaaS business but don’t know where to start, consider getting a free SaaS valuation.