In the SaaS industry, the most successful companies prioritize the retention of their existing customers over the acquisition of new customers. Why? Because SaaS companies charge a monthly subscription, so in order to turn a profit, they need their customers paying them for many months in a row. If they can’t retain their customers for X amount of months, they’ll ultimately lose money by acquiring them.
In the SaaS industry, the most successful companies prioritize the retention of their existing customers over the acquisition of new customers. Why? Because SaaS companies charge a monthly subscription, so in order to turn a profit, they need their customers paying them for many months in a row. If they can’t retain their customers for X amount of months, they’ll ultimately lose money by acquiring them.
If you follow professional sports, you know that you can’t just boil a player’s value or ability to perform down to a single statistic. One metric can’t reveal that much insight — analytics is more complicated than that. It’s only when you examine numerous statistics or metrics together that you can get a full picture of a player’s ability to perform and truly gauge their value.
When I’m looking for a business that will have what I need, whether it’s food or office supplies, I use Google Maps. I know that the search results will give me enough information to pick the best option, like reviews, ratings, photos, and location information.
A couple years ago, I used TripAdvisor or Yelp to learn about new restaurants in my area. Nowadays, I use Google Maps as the primary decision-maker, instead.