SaaS (Software as a Service) and other subscription-based businesses rely on monthly recurring revenue (MRR) from existing customers to monetize and enhance their product. Often, “revenue growth” is seen as only achievable through new customer acquisition, but this isn’t the case. Expansion MRR is new revenue from existing customers when they upgrade their subscription plans. Your … Continue reading 7 Practical Ways to Increase Expansion MRR and Achieve Negative Churn
Whether you live on the islands or are visiting, it’s important to find the right grocery store to meet your needs—especially if you’re watching your wallet. The majority of produce, meat, dry goods, dairy, and other products in Virgin Island grocery stores must be shipped in. This adds to their shelf price. In particular, those … Continue reading Grocery Shopping in the Virgin Islands: a Complete Guide
No longer a futuristic endeavor, the Internet of Things (IoT) today has reached adoption across multiple business sectors. Intelligent digital connectivity is now a part of many people’s day-to-day lives. From smartwatches to smart cities, every day a growing number of IoT device and sensor types are rolled out and activated. In fact, there are … Continue reading 44 Zettabytes of Data by 2020 – Are You Prepared for the IoT Data Deluge?
In 1998, Joy Gendusa was exhausted. Running a graphic design business and raising two toddlers, she worked 70 hours a week and made more money brokering printing services than selling graphic designs. Gendusa’s market was saturated: she created great work, but the competition constrained her growth. She was barely meeting overhead, and taking on projects … Continue reading Leveraging Customers’ Perceived Value of your Business to Grow Recurring Revenue
Preventable churn is hard to see, creeping around at the edges of day-to-day business and eating up revenue. It’s tricky to catch because: Every SaaS (Software as a Service) company expects to experience some level of churn Customers churning out don’t directly affect the flow of operations Once customers are lost, it can be difficult … Continue reading How to Tell Whether You’re Experiencing Preventable Churn
There’s no question that first impressions are important, especially in business. How much more important, then, is the impression a customer gets once they’ve made their first payment and activated your product? Very, apparently. A study by Price Intelligently found that a 1% increase in acquisition translates to a 3% improvement in your bottom line. … Continue reading How to Optimize your Onboarding Process to Reduce Early Churn
Perception is not always based in reality, and therefore isn’t always rational. “Sensation transference,” for example, happens when product packaging changes consumers’ experience of a product. Coca-Cola dealt with repercussions of the phenomenon in 2012 when some customers said that the soda tasted differently when packaged in a special white can with polar bears. The … Continue reading 7 Ways to Raise Your Perceived Value to Customers and Grow Recurring Revenue