How to improve customer renewal using videos?
B2B SaaS businesses that only focus on new customer acquisition and ignore their existing customers are missing the woods for the trees.
That is because satisfied customers are more likely to stick around and be vocal advocates for your product. They are also more likely to refer their friends and colleagues, leading to business growth.
Furthermore, it can be an expensive and time-consuming exercise to acquire new customers. Therefore, it is important not to neglect the ones you already have.
Happy customers are also more likely to renew their subscription or purchase additional products or services from you.
What are the companies doing about Customer Success?
Over 72% of businesses say improving customer satisfaction is their number one priority, according to Forrester Research.
This guide tells you what you as a B2B SaaS company should do to ensure Customer Success. There are 3 sections:
The definition of Customer Success is different for every company, but in general, it is the goal of every business to create satisfied and happy customers.
Customer success is the term used by business-to-business and software as a service companies to describe the process of ensuring that clients achieve their desired outcomes.
There are many aspects to Customer Success, from initial onboarding and training to ongoing support and account management.
This may include helping them understand how to use the product, providing tips and tricks for getting the most out of it, or troubleshooting any issues they may be having.
“The main focus of Customer Success is to ensure that clients are getting value from the products or services they have purchased.”
Customer success is a term used in the business world to describe the process of ensuring that customers are satisfied with the products or services they receive.
It is an important part of any company’s strategy, as it ensures that customers remain loyal and spend money on the company’s products or services.
This can be accomplished through a variety of methods, including customer communication, satisfaction surveys, and customer retention.
Broadly speaking, the exercise:
“The main goal of Customer Success is creating a customer experience that meets or exceeds customer expectations.”
To develop a Customer Success strategy, SaaS companies need to pay attention to customer experience. They should collect, analyze, and update customer data.
A B2B SaaS business should pay attention to:
Strategy: Customer success includes everything from creating an effective marketing campaign to ensuring quality products and services. So, it is important to understand:
Tools: Help track and monitor customer behavior such as complaints and comments to determine where problems are occurring.
Website: Increase your conversion rates by optimizing the website. It is important to keep your website fresh.
SEO: Search engine optimization is the cornerstone of digital marketing that determines how a website gets ranked by the search engines and where it appears in search results.
Taking good care of your potential and current customers is the only reliable way to ensure Customer Success.
Videos are an effective medium for doing just that–they are both engaging and informative. With video consumption on the rise, every B2B SaaS business should tap into its power.
For example, videos can be used to show customers how to use your product or how it works. They can also be used to provide support after purchase or answer common questions.
Additionally, videos can be used to share Customer Success stories from customers who have used your product in unique or interesting ways.
In this section, we will examine what problems the SaaS customers face and how a SaaS company can provide the solutions with different types of Customer Success videos:
How can B2B SaaS product explainer videos help with Customer Success?
“Challenge: Customers do not know how the product can help their business.”
Explainer videos can play a huge role in a B2B SaaS company’s Customer Success. These videos can help:
This customer support video created by Content Beta for HotelIQ, the hotel and hospitality Business Intelligence company, shows the benefit of using their app built by hoteliers and data scientists.
“Customer Success: An Explainer video like this can convince hoteliers to use the app to gain insights into their business processes that will help them succeed.”
How can B2B SaaS product marketing videos help with Customer Success?
“Challenge: Too often, B2B SaaS companies rely on product demonstrations to show the features and functions of their software.
While this may be interesting to potential customers, it does not always help them understand how to use the software for their business needs.”
B2B SaaS product marketing videos can take a different approach by showing how the software can solve specific business problems.
They can also help customers understand how to get started with the software and what to expect from using it.
This customer support video created by Content Beta for Ready Hire, the Sales Development Training company, explains how its training can help train Sales Development Representatives (SDRs).
“Customer Success: Customers wanting to hire sales talent can see that Ready Hire students are well trained and employment ready.”
How can B2B SaaS product demo videos help with Customer Success?
“Challenge: Customers will want to see for themselves how a product can add value to their business.”
Product Demo videos are an excellent way to show customers the benefits of your product and how it compares to the competition. Using them, businesses can show off their products, highlight benefits, and demonstrate how they work.
Product videos can be used on your website as well as social media and email marketing campaigns. They are a great way to engage customers and help them succeed with your product.
This customer support video is created by Content Beta for PartnerStack and demonstrates the capabilities of their Learning Management System.
“Customer Success: Customer success videos like product videos reduce the time and effort needed to convince customers about your products.”
How can B2B SaaS customer onboarding videos help with Customer Success?
Onboarding videos can help with Customer Success by providing a quick and easy way to learn about a product.
By seeing how the product works and what it can do for them, customers are more likely to be satisfied with the product and successful using it to solve their business problems.
Customer onboarding videos play a critical role in Customer Success and can help:
This customer support video created by Content Beta for Donna Weber, a Customer Onboarding Expert, who explains the importance of customer onboarding.
“Customer Success: Customer onboarding videos can help improve customer satisfaction and reduce the likelihood of customers abandoning a product or service. “
How can SaaS customer support videos help with Customer Success?
“Challenge: Companies are often at a lose when they receive a deluge of customer support tickets, which can ultimately lead to poor customer satisfaction.”
In a world where customers can easily take their business elsewhere, it is more important than ever for companies to provide excellent customer support.
One way to do this is by using SaaS customer support videos, which can:
This customer support video, created by Content Beta for Poka, the connected worker platform for driving manufacturing excellence, explains how to perform daily management tasks.
“Customer Success: Customer support videos demonstrate a company’s thoughtfulness and how they care about Customer Success.”
How can SaaS FAQ videos help with Customer Success?
“Challenge: Customers are not enthusiastic about searching for essential information on a website. They want a ready-made resource to help them with a quick solution to their problems.”
Customer Success is critical to the success of any business, but it can be difficult to achieve for SaaS companies as their products are used by customers with different skill levels.
FAQ videos can help with Customer Success by:
This customer support video is created by Content Beta for ManyChat, a service for creating chatbots for Facebook Messenger.
“Customer Success: FAQ videos help provide solutions to customer problems before they become an issue. Customers have come to expect this feature and they appreciate it.”
How can Remote customer testimonial videos help with SaaS Customer Success?
Challenge: Customers want to see and hear from the satisfied customers of a company before they consider doing business with them.
Remote customer testimonial videos are a great way to collect feedback from customers about their experience with your product. It is important, however, to be professional and honest about testimonials.
This customer support video, created by Content Beta for Galley, features Cate Smith, Corporate Chef, talking about how the Galley app is helping restaurant staff in their day-to-day work.
Customer Success: The good Chef explains why restaurants no longer need to worry about food data, purchase orders, menus, or recipes. They can solely concentrate on what they do best–cooking delicious food.
In this section, we will briefly touch upon Customer success metrics that help you measure the effectiveness of a Customer Success program. They can be used to determine whether you are providing a valuable product or service and whether it is meeting customers’ needs.
Customer success is also a company’s success as it ensures that customers remain loyal and spend money on the company’s products or services.
Customer success is the key to ensuring that your customers are happy and coming back for more. When you focus on your customers’ needs and well-being, they will be more likely to recommend you and return in the future.
The simplest way to ensure Customer Success is to have a customer-centric approach to product development, marketing, customer service, and even employee hiring.
Some examples of metrics include counting the number of customers who have used your product for more than 90 days; newly signed up; paid their bill on time; and so on.
There are many reliable indicators of Customer Success, but we will look at the following two in this guide:
Conversion rates: The conversion rate is the percentage of visitors who end up taking advantage of what you offer on your site. It measures business growth by counting how many people who visit your website or landing page and sign up for your free trial end up purchasing your product or service.
Net Promoter Score (NPS): NPS Surveys measure customer satisfaction. A high NPS will show if a B2B SaaS company has satisfied its customers or not. The NPS indicates the customer-to-sales ratio. It is made up of the number of positive responses minus the negative responses.
They can rely on four basic metrics for measuring financial performance: Revenue, Margins, Expenses and Profits.
Revenue: The amount of money a business receives from customers over time. It consists of three primary components: Subscription, Product, and Service.
Margin: The difference between revenue and expenses, usually measured on a per-unit basis.
Expenses: The cost of running a business. It includes not only fixed costs but also variable costs that change with the quantity or value of services or products sold.
Profits: The income of a business prepared as per generally accepted accounting principles. Profit is defined as net income before all operating expenses, taxes, interest and depreciation.
Before we wrap up, let us look at the customer management best practices B2B SaaS companies can follow to achieve Customer Success:
Takeaway: Provide a great experience for customers, from the initial sign-up through ongoing use, leading to happy and satisfied customers. They are more likely to stick around and recommend your business to others.
You could also create how-to videos or case studies that show customers using your product in a real-world setting. The videos save the customers the trouble of reading a lengthy manual or getting in touch with customer support teams.
Customers want a quick solution to their problems. Quick assistance is always appreciated because it helps customers get the answers they need without taking up too much of your company’s or your team’s time. FAQ videos can do just that.
A blog is not only a great way to drive traffic to your website and increase your visibility, but it also acts as a value addition for Customer Success. By adding videos to complement the written content, B2B SaaS businesses can use blogs as a valuable customer education resource.
Customer success managers (CSMs) should use Email as a fundamental tool in their work. They can use an appropriate video with the Email to let customers know about product updates, product releases, or even to thank customers for their business.
The ultimate proof of Customer Success is a good word from satisfied customers who see the value of the software and how it can help others to be more successful in their businesses. In addition, the experience should encourage them to recommend your business to others.