Here’s a really useful blog post from our friends at Price Intelligently, titled “How to Turn a SaaS Company Around in 90 Days.” While it’s written with a SaaS audience in mind, the concepts are solidly applicable to nearly any subscription business.
The blog posits how a shift from an acquisition-first mindset to a retention-first mindset can have tremendous impact to the growth of subscription businesses. The three primary drivers that will enable rapid growth are: reducing churn, increasing ARPU, and increasing total number of customers.
The blog then delves into the details of each and the different tactics you can and should be utilizing consistently to support those driver of growth. While some of the ideas may be familiar, it’s a solid reminder of some key best practices and why they’re important to your subscription business.
It’s also a rallying cry for changing your mindset about how you go about trying to grow your business. By focusing on the three “growth levers” listed above, small results in each area will stack and multiply and ultimately increase your revenue.
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The value of Recurly is that we no longer have to worry about the different aspects of subscription management. Instead, we can focus on things that are our core competency, like adding value to our service and expanding our offering. That’s been a huge win for us.