For technology companies that employ a subscription-based business model, sustained product adoption by customers is vital to long-term success. While many new operational capabilities have been developed to drive consumption, including the rapidly growing Customer Success discipline, many firms struggle to achieve desired adoption and retention levels in a sustained, profitable way. As companies look for methods and strategies to address this challenge, there are four practices from the healthcare industry’s approach to treating chronic illness that have applicability to tech adoption:
Earlier today the SSD community gathered to discuss Increasing Customer Lifetime Value for Software and SaaS subscriptions as Avangate shared new strategies for retaining business and increasing profits.
Today’s guest post was contributed by Waterstone Management Group. Waterstone is a boutique management consulting firm that helps technology companies and investors create measurable value by identifying and capitalizing on disruptive growth opportunities and by driving excellence in Services, Cloud and Customer Success. Follow Waterstone on twitter @WaterstoneMG, or sign-up for their quarterly newsletter to receive visionary insight.
Subscription businesses are built around fostering continuous, long-term customer relationships. Ensuring your customer has a remarkable experience throughout the entire lifecycle is vital. To achieve an exceptional subscription-based customer experience, two golden rules of engagement must be followed.
Check out this paper by Waterstone’s Dhaval Moogimane, Partner, and Steven Michalkow, Associate, in which they outline the two golden rules of customer engagement, the hurdles companies face in following them, and the power of customer jo ...
As its name suggests, Boston-based Greentech Media serves the green energy space. What may not be as readily apparent is that paid research and subscription services—not media—are its primary drivers, accounting for almost two-thirds of Greentech’s overall revenue and its fastest growing revenue stream. Here, Greentech CEO Scott Clavenna explains how prioritizing research—complemented by digital media and events—gives Greentech a recurring revenue stream that shields it from some of the fickleness of an advertising-only model and allows for major upsell opportunities with clients.