The threat of rising interest rates and the ongoing economic uncertainty have left businesses reevaluating spends and operating frugally. And, with conscious spending taking over the consumer mindset, customers are now postponing new purchases or subscription renewals unless it’s essential. While it may be challenging to acquire new customers, it’s not impossible to ride out …
Have you noticed an uptick in payment failures lately? If so, you’re not alone. According to a survey by Chargebee, payment failures are now a top concern for 41% of subscription-based businesses, outranking customer acquisition. ⚠️ The same survey found that 45% of subscription-based businesses spend at least 5 hours per week managing failed payments. …
Continue reading “Payment Failures: A Threat to Your Subscription Business’s Long-Term Success”
‘Experiments’ may not have the most favorable reputation but don’t throw out the baby with the bathwater.
All SaaS companies grapple with the uncomfortable reality of customer churn. If only you knew (for sure) why your customers were leaving, you’d pull out all the stops to fix the leaky bucket. A customer exit survey, a common tool to collect feedback from existing customers, can help tell you what pain points require immediate …
Continue reading “Customer Exit Surveys: Best Practices, Questions and Types”
Economic trends from the past two years indicate that the value of growth for SaaS companies has plummeted. According to Openview 2022 SaaS Benchmarks Report, if you want to secure the same valuation today as in 2021, you’d have to grow your ARR by more than 2x. But how do you maintain a stable and …
Continue reading “The Hidden Costs of a Manual Collection Strategy”
2023 brings with it economic volatility, cost pressures, and unpredictable consumer demands. How can finance leaders thrive in an increasingly complex and unpredictable world?
Congratulations on your new role as a CFO! It’s an exciting time to be a CFO and part of the historical transformation of the entire finance function. Many modern Chief Financial Officers like you are set to drive that transformation as Chief Growth Officers. “To excel in their new roles and increase their organizational impact, …
Continue reading “New CFO Checklist: Your First 90-day Plan”
Losing customers is a painful process, no matter the reason. But when that loss is due to a failed payment, it hurts a lot more. The customer wants to renew the subscription, but an expired or maxed-out credit card results in a failed payment, ultimately forcing the customer to churn. Once this happens, recovering lost …
Continue reading “Dunning Best Practices to Combat Involuntary Churn”
Most businesses treat customer cancellation surveys as a means to collect terminal customer feedback, without realizing how important it is in supporting your retention engine at the moment of cancellation. Sure, the analytics is a great assist against possible future churn. But, there are more immediate impacts that often go undetected, and hence, underutilized. More …
Continue reading “How to Use Cancellation Surveys to Reduce Churn”
Accurate revenue forecasting is crucial for every business as it informs future valuations, dictates expenses, improves conversions, and even helps navigate economic uncertainty. However, accurately predicting revenue can be challenging, particularly for subscription-based businesses, as they need to account for churn, revenue leakage, and upgrades/ downgrades across their billing engine, or marketing and sales pipeline, …
Continue reading “A Complete Guide to Subscription Revenue Forecasting”
Well, this is one of those questions that has no short answer. The shortest way to describe the difference between the CFO and the controller role is this quote from a research report by EY: ‘The difference between the CFO and the financial controller is that the latter is more like the financial operating officer. …
Continue reading “CFO vs Finance Controller: Who(m) Does your SaaS Business Need?”
It’s estimated that 42% of businesses experience revenue leakage, sometimes at a staggering rate. In fact, companies lose an average of 9% of their annual revenue through revenue leakage. Which is disappointing, since money lost in leakage is essentially what your business should have rightfully earned. Fortunately, there are solutions that can plug those gaps. …
Continue reading “What Is Revenue Leakage? 5 Ways to Keep Your Revenue Watertight”