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- Luma
- Lyft
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- MDMflow
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- Made
- Magento
- Mailchimp
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- MasterClass
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- NerdWallet
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- Netflix
- New Look
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- Nicely Noted
- Nike
- No Mercy / No Malice
- Nomatic
- Noom
- Nordstrom
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- Notion
- Notonthehighstreet
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- OfferUp
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- OpenSea
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- Overstock
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- PandaDoc
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- Paula's Choice Skincare
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- Pier 1
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- Pitch
- Pizza Express
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- REI
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- Search Metrics
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- Sephora
- ServiceNow
- Shop.com
- Shopify
- Shpock
- Shudder
- Shwood and Stanley
- Simba
- Skillshare
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- Smiley Movement
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- Society6
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- Spreadshirt
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- Staples
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- WE
- WW (Weight Watchers)
- WalMart
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- Watch Shop
- Watch Station
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🚀 SaaS Roundup: How to Drive Retention and Mitigate Churn
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As always, we also include out top three reads from the SaaS world.
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<span style="font-family:open sans,helvetica neue,helvetica,arial,sans-serif">
<strong>
SaaS Roundup
</strong>
<strong>
#344
</strong>
</span>
</h1>
<br/>
<br/>
<font color="#000000">
Hi there,
<br/>
<br/>
Welcome to another fiery edition of SaaS Roundup 🔥.
<br/>
<br/>
Today, we share with you tactics & strategies to
<a style="mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #007C89;font-weight: normal;text-decoration: underline;" target="_blank">
mitigate churn & drive retention
</a>
.
<br/>
<br/>
As always, we also include our top three reads from the wonderful world of SaaS.
</font>
<br/>
<br/>
Happy reading,
<br/>
<strong>
Sid @ ChartMogul
</strong>
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New from ChartMogul.
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This Downturn Is Different: How to Drive Retention and Mitigate Churn in 2023
</span>
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<br/>
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<span style="font-size:13px">
Bianca Wilk
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In a downturn, priorities shift. Buyers start getting cautious. They stop purchasing new software and reevaluate their current spending. Naturally, this puts extra pressure on customer success. After all, it’s the customer success teams that drive growth through retention and churn mitigation.
<br/>
<br/>
So, what’s the best way to drive retention and mitigate churn in 2023?
<br/>
<br/>
We hosted a panel of customer success experts this month. We asked them for their strategies and tactics on how they mitigate churn in the short term and improve retention in the long term.
</font>
<br/>
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<blockquote style="border: 0px;padding: 20px;margin: 0px;background: #EBEAEC;font-style: italic;color: black;text-size-adjust: 100%;text-align: left;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
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"For our business, it’s better to have a yearly subscriber than a monthly one. It’s less risky. So we do sometimes try to incentivize them to upgrade to a yearly plan by offering a discount that will be available for seven days. (…) We are not giving discounts to everybody all the time, but we try to be flexible."
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Read More
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Our top SaaS reads.
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Data
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<a style="color: #1c79ed;font-family: open sans,helvetica neue,helvetica,arial,sans-serif;font-weight: 400;text-decoration: none;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" target="_blank">
Why Advanced Data Teams Need Both BI Tools and Flexible Data Workspaces
</a>
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<span style="font-family:open sans,helvetica neue,helvetica,arial,sans-serif">
<font color="#999999">
Izzy Miller, Hex.Tech
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<br/>
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<span style="font-size:14px">
Modern BI tools have exploded in popularity. They have made it possible for business users to build dashboards and self-serve analytics. But is a BI tool sufficient for all the analytical needs of your company? The team at Hex argues otherwise.
</span>
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"There is a ton of important data work that simply cannot be done inside of BI tools. Predictive modeling, complex statistical analyses, geospatial work, unstructured data, machine learning— The list of important analysis that can't be done in a SQL based BI tool is actually pretty long.”
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Growth
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<h4 class="null" style="display: block;margin: 0;padding: 0;color: #202020;font-family: Helvetica;font-size: 18px;font-style: normal;font-weight: bold;line-height: 125%;letter-spacing: normal;text-align: left;">
<a style="color: #1c79ed;font-family: open sans,helvetica neue,helvetica,arial,sans-serif;font-weight: 400;text-decoration: none;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" target="_blank">
Inside Hotjar’s Bootstrapped PLG Strategy
</a>
</h4>
<p style="padding-bottom: 5px;margin: 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #202020;font-family: Helvetica;font-size: 16px;line-height: 150%;text-align: left;">
<span style="font-family:open sans,helvetica neue,helvetica,arial,sans-serif; font-size:13px">
<font color="#999999">
Kyle Poyar, OpenView Partners
</font>
</span>
<br/>
<br/>
<font face="open sans, helvetica neue, helvetica, arial, sans-serif">
<span style="font-size:14px">
Hotjar was PLG when PLG wasn't a thing. Mohannad Ali, their CEO, speaks to the team at OpenView and shares his thoughts on the evolution of PLG, the activation journey, pricing process, marketing costs and much more.
</span>
</font>
</p>
</td>
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<tbody>
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<table border="0" cellspacing="0" class="mcnTextContentContainer" style="min-width: 100% !important;background-color: #EBEAEC;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width="100%">
<tbody>
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"If you look at the time of first value, 67% of users get to the point of value within 15 minutes. It’s really quick because over the years we’ve done a lot of work to make it a very, very frictionless process.”
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<table border="0" cellpadding="0" cellspacing="0" class="mcnButtonContentContainer" style="border-collapse: separate !important;border-radius: 0px;background-color: #DAC2FF;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
<tbody>
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<td align="center" class="mcnButtonContent" style='font-family: "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif;font-size: 14px;padding: 10px;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;' valign="middle">
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Fundraising
</a>
</td>
</tr>
</tbody>
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</td>
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</tbody>
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<table border="0" cellpadding="0" cellspacing="0" class="mcnTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width="100%">
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<tbody>
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<td class="mcnTextContent" style="padding-top: 0;padding-right: 18px;padding-bottom: 9px;padding-left: 18px;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;word-break: break-word;color: #202020;font-family: Helvetica;font-size: 16px;line-height: 150%;text-align: left;" valign="top">
<h4 class="null" style="display: block;margin: 0;padding: 0;color: #202020;font-family: Helvetica;font-size: 18px;font-style: normal;font-weight: bold;line-height: 125%;letter-spacing: normal;text-align: left;">
<a style="color: #1c79ed;font-family: open sans,helvetica neue,helvetica,arial,sans-serif;font-weight: 400;text-decoration: none;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" target="_blank">
How to Raise Venture Capital with Poor Customer Retention
</a>
</h4>
<p style="padding-bottom: 5px;margin: 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #202020;font-family: Helvetica;font-size: 16px;line-height: 150%;text-align: left;">
<span style="font-size:13px">
<span style="font-family:open sans,helvetica neue,helvetica,arial,sans-serif">
<font color="#999999">
Mark Roberge, Stage 2 Capital
</font>
</span>
</span>
<br/>
<br/>
<font face="open sans, helvetica neue, helvetica, arial, sans-serif">
<span style="font-size:14px">
Startups rarely yield exceptional customer retention metrics out of the gate. If a startup’s customer retention is off the mark, even significantly, VCs often pass it as an investment. Is there a way to still get VCs interested in your SaaS startup? Yes, there is.
</span>
</font>
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<tbody>
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<td style="padding-top: 9px;padding-left: 18px;padding-bottom: 9px;padding-right: 18px;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
<table border="0" cellspacing="0" class="mcnTextContentContainer" style="min-width: 100% !important;background-color: #EBEAEC;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width="100%">
<tbody>
<tr>
<td class="mcnTextContent" style='padding: 18px;color: #202020;font-family: "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif;font-size: 13px;font-style: italic;font-weight: normal;text-align: left;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;word-break: break-word;line-height: 150%;' valign="top">
"Re-define the Ideal Customer Profile (ICP) Based on Customer Retention: Analyze the customer base to understand patterns in healthy, renewing customers versus unhealthy, churning customers. Look for segments that have relatively high and low retention relative to the average."
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<div style="padding-top: 20px; padding-bottom: 20px; font-family:open sans,helvetica neue,helvetica,arial,sans-serif;">
<h1 class="null" style="font-weight: 400;text-align: center;display: block;margin: 0;padding: 0;color: #202020;font-family: Helvetica;font-size: 26px;font-style: normal;line-height: 125%;letter-spacing: normal;">
<strong>
<span style="font-family:open sans,helvetica neue,helvetica,arial,sans-serif; font-size:26px">
Chart of the week.
</span>
</strong>
</h1>
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<tbody>
<tr>
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<p style="margin: 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #202020;font-family: Helvetica;font-size: 16px;line-height: 150%;text-align: left;">
<font face="open sans, helvetica neue, helvetica, arial, sans-serif">
<span style="font-size:14px">
<strong>
What's a good CAC payback period?
</strong>
It depends on the market you sell to. Companies selling to consumers/SMB segment have shorter buying cycles/lower CACs compared to those selling to enterprise customers.
</span>
</font>
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<a class="" style="mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" target="_blank" title="">
<img align="center" alt="" class="mcnImage" src="https://inboxflows.com/_/image/https%253A%252F%252Fmcusercontent.com%252Fa4c2738e44c3a9e98f352fbf5%252Fimages%252Fb672832f-c606-7a35-9d63-b4b52e6240e1.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtY3VzZXJjb250ZSJ9:1oyWff:XuV1O6pN8nJBTqPITJCZOkgyb7ttsYNl6UmIB2jLIJc" style="max-width: 2833px;padding-bottom: 0;display: inline !important;vertical-align: bottom;border: 0;height: auto;outline: none;text-decoration: none;-ms-interpolation-mode: bicubic;" width="564"/>
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<p style="margin: 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #202020;font-family: Helvetica;font-size: 16px;line-height: 150%;text-align: left;">
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<span style="font-size:14px">
Source:
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2 years, 6 months ago - roundup@chartmogul.com
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