The market nowadays is moving forward to a more buyer-led future, keeping the buyer in control. Studies show that it's best to slowly shift from traditional content marketing and sales operation to what the buyers want.The future of sales-enablement and demand generation lies in self-service content.

It's a Buyer's World

In order to shift to a more buyer-driven format you should can start with having a buyer-led content flow because this helps address the needs and problems of the client in the least disruptive way, which the traditional approach ignores.Some of the other ways we can take part in solving the client's problems is to help them define their stakeholders, identify potential disruptions, and help them make compromises to move the buying process forward.

Shifting to the buyer-driven experience

<ol><li class="ql-align-justify">Context - focus on creating content that helps the buyer complete the steps in their task </li><li class="ql-align-justify">Choice - have someone to guide the buyers' decisions whether to stick to their current choice or to change it</li><li class="ql-align-justify">Conversations - focus on the information that the buyers want and not the information that your brand wants to share</li><li class="ql-align-justify">Confidence - help buyer's feel confident about their choice by giving them what they need to make an informed decision, this will help you become a credible resource </li></ol>

The Four Components of a Buyer-Driven Content Strategy

Since the market industry is shifting towards a more buyer-led market, we should embrace this change and add self-service models that buyers can utilize such as:<ul><li class="ql-align-justify">Self-scheduling</li><li class="ql-align-justify">Self-selection for the person they want to work with</li><li class="ql-align-justify">Self-pricing tool that helps buyers to see the complete picture of a product, understand the product in detail, and they can choose to make upgrades or make comparisons</li></ul>

Operating in a seller-free world

The future of sales-enablement and demand-gen content lies in self-service. Try these ideas to develop truly buyer-led content experiences – Content Marketing Institute

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Why the Future of Demand Gen Lies in Self-Service Content Experiences - Content Marketing Institute

Many say the very nature of marketing involves a form of science. Does it mean marketing is predictable?Predictive analytics are quite trendy in marketing and in business in general. Many companies are trying to predict and understand the future of a company by using patterns, data and techniques.

Is Marketing Predictable?

While marketing is the core of sales for every business and organization, marketing efforts do not start off with numerous sales.In fact, many companies lose money in their effort to improve their marketing. At some point, Every business strives to reach a state of predictability. When a company reaches a state of predictability, It can drive sustainable growth from knowing exactly how much money to invest to generate a precise amount of new revenue.

A state of predictability 

So what is predictive marketing? It is a marketing technique that involves using data analytics to determine which marketing strategies and actions have the highest probability of succeeding.It has a place in the marketing technology landscape, as companies make use of general business data, marketing, and sales activity data, and mathematical algorithms to match patterns and determine the best-fit criteria for their next marketing actions. Companies that utilize this strategy strive to make data-driven decisions to yield better results

What is Predictive Marketing? 

Three main factors have led to the boom in predictive marketing including the massive amounts of data marketers can access from all available sources, access to data in real-time, and the introduction of cloud computing that provides Big Data technologies.Now that Marketing Tech tools are more accurate and sophisticated, marketers have access to better results and can measure advertising and audience sources to create campaigns with predictable responses. However, there are challenges with regard to seemingly predictive marketing.

The Rise of Predictive Marketing

One of the frustrating challenges with this approach is that it may not live up to some executives’ and marketers’ expectations for fully-automated analytics.Many marketers and business owners looking for results face this common challenge. and this is a result of the fact that marketers fail to marry the art and science of marketing. Humans remain smarter than computers. That is not to say that there are no advantages. let us look at the benefits of predictive marketing.

Challenges with Predictive Marketing 

There are several advantages of Predictive marketing such as having insight into consumers and their behaviours including improving customer engagement and increasing revenue, gaining more sophisticated segmentation of data, identifying campaigns and actions that are better targeted to customers, better-utilizing marketing budgets, and improving lead scoring.

Benefits of Predictive Marketing

Overall, it takes much of the guesswork out of marketing and the benefits of predictive marketing empower companies to conduct more accurate forecasting.It also puts marketers in a better position to see what’s around the bend and perform better in terms of upselling, making the next-best offers, determining long-term profitability, and being prepared for shifts in market conditions.Would you like to take advantage of predictive marketing? check out my next stash on predictive marketing tools and their uses.

Conclusion 

Many say the very nature of marketing involves a form of science. Does it mean marketing is predictable? Predictive analytics are quite trendy in marketing and in business in general. Many companies…

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Churn can most basically be defined as resources lost in a given period of time. Typically it’s referring to users or revenue lost and is usually represented with either a percentage or dollar amount. For example, if you had a 5% monthly user churn rate, that means each month 5% of your customer base is cancelling. Or if you said you had $2,000 in monthly revenue churn, that means you lost $2,000 in monthly recurring revenue from either customer cancellations or downgrades.

The Definition Of Churn

[Leaving Customers/ Total customers]×100

Calculating Customer Churn: The Formula

<ul><li>User churn is the number of customers you’re losing in a given timeframe (typically per month or year).</li><li>Revenue churn, which is arguably even more important, is the amount of revenue you’re losing in a given time frame due to downgrades or cancellations.</li></ul>

Users And Revenue

Here are a few signs/red flags that you might have a churn problem: <ul><li>Your churn is outpacing new customers.</li><li>LTV is shrinking: The longer your customers stay with you, the higher the lifetime value (LTV) of your average customer should be.</li><li>Your churn rate is above 10%: 5-7% is considered an average churn rate. But when you start getting into double digits, it’s usually a sign that something in your process isn’t working. </li><li>More downgrades than upgrades: If you offer different plans or add-ons for your product, you want to have more customers upgrading than downgrading. </li></ul>

Signs Your Company Has A  Churn Problem

Ask your customers why they are cancelling. Make sure you customize the cancellation reasons in your survey based on your product.After having a cancellation reasons form, you can break down the reasons and segregate the customer feedback. If trying to find out why they are cancelling is the first time you interact with your customer, that’s probably part of the problem. The best time to establish a strong relationship with your customers is during the onboarding/free trial process.

6 Churn Reduction Strategies: Find Out Why Customers Are Cancelling

A great onboarding process helps companies: <ul><li>Give customers the best first experience of the product possible, by guiding them through it.</li><li>Keep customers informed throughout the process with a clear line of communication.</li><li>Enable customers to learn more about how to use the product.</li><li>Find out what works and doesn’t for their customers.</li></ul> Many companies use the tried and tested method of well-timed emails to ensure the onboarding process is smooth.

6 Churn Reduction Strategies: Create A Magnetic Onboarding Process

You can build Customer(or Brand) Loyalty by:<ul><li>Being honest and transparent</li><li>Celebrating your customers, starting with the high-value segment.</li></ul> Someone who just enjoys your product might leave if another company releases a similar product at a lower price. Their main concern is the utility of the product.A brand loyalist, on the other hand, likes your product AND your company. They consume your content, attend your events, brag about you on social media and send referrals.

6 Churn Reduction Strategies: Build Customer Loyalty

To get more clarity, look at your churn by customer segments or cohorts. Customer segments are the different ways you group customers together. It could be by their plan level, location, coupon vs. full price, or any other category.

6 Churn Reduction Strategies: Analyze Churn By Customer Segments

Listening to your customers (and acting on their feedback) directly impacts churn. The problem some companies run into is feedback can come in from all over the place (social media, support desk, personal conversations, etc.) That makes it tough to keep track of. Brands are viewed more favourably by 77% of consumers if they proactively invite and accept feedback. So being intentional about getting feedback and putting it to use can help you retain customers and reduce churn.

6 Churn Reduction Strategies: Listen to your customers

Typically, one of two things happens when your customer’s payment fails: <ul><li>They eventually realize it and make their payment</li><li>They go ghost and you lose out on the money.</li></ul> Even if the customer does update their payment info later, you’re still missing out on revenue. Instant email communication helps, where the goal is to let customers know their payment failed, and get them to update the information.

6 Churn Reduction Strategies: Recover Failed Payments

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Ultimate Guide to Reducing Churn

In this guide, we’re going to go over six strategies to reduce churn, with real-life examples from SaaS companies that have successfully done it.

I spent over a week talking to founders about how they reduce churn in their SaaS business. Here are the strategies they shared!

6 Proven Strategies to Reduce Churn

While signing new customers is obviously key to business growth, retaining those customers is just as important.What reduces customer churn? One big factor stands out: effective onboarding. Nailing the onboarding process, especially for a product that may be constantly evolving with technology and customer needs, can sound daunting. But it can’t be ignored. Onboarding that isn’t optimized to increase retention costs you both the customers who churn, as well as the potential customers, warned away through reviews and word-of-mouth.

Reducing Churn By Effective Onboarding

Before onboarding even begins, your business must attract customers who need what you offer. No onboarding process can rescue a customer hoping to burn CDs with a Spotify account. Be sure that marketing and sales understand what your product does, and doesn’t, offer. Use customer cohorts to identify good and bad fits. Letting bad-fit customers through the door simply to raise acquisition will cost more than they spend. High churn rates and bad reviews quickly erode revenue gained in these situations.

Getting The Right Customers

People experience a range of emotions as they first hear about, research, and decide to invest in a product. Throughout this journey, it’s important to reinforce their interest, especially in those moments after the purchase.
Many digital companies accomplish this through a virtual “tour” of their features once an account is activated. These tours highlight the most exciting product offerings and help the user set up their account.
Show your customers your best side, reminding them why they signed up, and they’ll be more likely to experience early success and remain loyal to your product.

Reinforce Customer Choice By Highlighting Your Best Features

<ul><li>Don’t underestimate the power of solid welcome emails.</li><li>By shaping communication around data, you increase your chances of success.</li><li>A robust subscription billing platform can automate the welcome email process. </li><li>Take the time to make your communications and welcome email shine, and watch user activity rise.</li></ul>

Optimize Communications And Welcome Emails

There is a direct correlation between customer retention and the time between acquisition and their first “wow!” moment.A “wow!” moment is what happens when a customer sees your product delivering results. It’s an affirmation that their purchase was the right choice. If you can ensure an early “wow!” moment, and celebrate it with customers, their satisfaction smooths the onboarding process.A positive experience increases the chances that customers will enjoy using the app and perhaps even upgrade to a paid membership for more features.

Ensure And Celebrate Early Success

Educational content is a great way to retain customers.A good idea is to combine educational content with strong and responsive customer support, and users will be so informed they won’t leave for lack of understanding. It can be tempting at this phase to get pushy with upsells but don’t overdo it. Making customers aware of the advanced features found in premium accounts can be done without coming across as forceful. If customers need the features, their comfort with your product and their success thus far will be all it takes to convince them to upgrade.

Educational Content And Thoughtful Upsells

In an ideal world, personalized or concierge onboarding would be available to every customer. That’s not always possible. The next best thing, of course, is having channels that allow you to see customer pain points during the onboarding process, or even invite them to tell you themselves.Through A/B testing and tracking, you can gain a window into customer needs, locating areas of improvement in onboarding and the ongoing customer experience.You can employ forums, surveys, or an “open door email policy” to allow customers to directly suggest areas of growth.

Getting Feedback

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Onboarding Matters

Onboarding that isn’t optimized to increase retention costs you both the customers who churn, as well as the potential customers warned away through reviews and word-of-mouth.

How to Optimize your Onboarding Process to Reduce Early Churn

When startups talk about percentage churn(say 5 percent) they ignore too many variables: Does this include users who signed up during this month, or only lost customers from the previous month?What is the revenue churn vs user churn? 5% is okay if it’s all free users you’re losing, but what if that 5% happened to be all your premium customers or 50% of your revenue? What is your activity churn? How many users became inactive this month? This is your leading indicator of future churn, and usually the most actionable insight.

Customer Churn: The Questions To Ask

Activity churn is the best indicator of future problems. Typical churn stats use something like account cancellations as a measurement but cancellation is only ever a trailing indicator, it’s literally the last thing that happens. When you identify previously active customers who are slipping, a well-timed personal email can help to re-engage them. The best case is that you recover a customer; the worst case is you learn why your users leave. Either of these leaves you in a better position than doing nothing.

Activity Churn Is What Matters

There is a difference between someone who didn’t convert after a 30-day trial and a year-long user who has started to slip away. The difference results in two different jobs, conversion and recovery. Don’t let them both fall into a naive “we miss you” bucket. Treat them differently.

Strategies For Re-Engaging Customers: Target The Right Ones

Don’t auto-mail a customer who has several open support issues to remind them to login and don’t begin your mail with “Dear Customer”. Such activities do more harm than good. Introduce yourself in the email, and make it clear that you’re a real person who really wants to hear what they have to say about your application.

Strategies For Re-Engaging Customers: Be Personal

Customers don’t forget to use your product, they lose interest in it. So you have to motivate them. There are some features that will bring customers back, or keep them from switching. By offering churning customers a glimpse of what’s coming down the line, you can excite them about future releases. Things that inspire people to stick around are usually features which save time (e.g. better importing), increase adoption or efficiency (e.g. integrating with third parties), or offer additional value for no extra work (e.g. weekly reports).

Strategies For Re-Engaging Customers: Being Interesting And Useful

If you have new features coming down the line, screenshots or gifs can be particularly interesting for long standing users. If the improvements are in terms of workflow, sometimes a clear diagram will be seen and understood far better than paragraphs of text. Never forget you’re just one of many emails in the inbox, and they’re all making promises. Any effort that makes your email stand out will help.

Strategies For Re-Engaging Customers: Be Visual

Some amount of churn is natural. Businesses come and go, as does the demand for your product. When a customer decides to leave, make sure they leave on good terms. If they have legitimate problems with your product, acknowledge them. Don’t delude yourself and fight back. Thank them for their custom and let them go. The easiest way to screw this up is to continue to spam them months or years into their departure. It does more harm than good.

Strategies For Re-Engaging Customers: Be Thankful, Honest, And Respectful

If you’re a SMB(Small Or Medium Business), you could expect an annual churn rate of anything from 31-58%. As startups acquire more customers and target the enterprise market, churn falls to a more respectable 6-10%. In their early days, companies are still finding their customers and will inevitably attract the wrong customers for whom their product isn’t a good fit, hence churn should decrease for startups as their product and brand become more focused and mature.

The Impact Of Churn: Your Mileage May Vary

Churn is one of the most important metrics for today’s startups. It's also the most misunderstood. Learn how to understand churn properly for your business.

Reduce churn by re-engaging your customers

Defined as the percentage of customers that cancel their subscriptions in any given time period, churn rate is an essential metric that can make, or break, the success of your SaaS business.   That's why it's so critical to master churn analysis. No SaaS company can hang on to all its customers forever. But by understanding the nuances of why your customers churn, you can find more effective ways to reduce it.

Churn: The Reality Of Any SaaS Company

<ul><li>A good churn analysis provides a set of detailed insights on the factors affecting your churn rate.  </li><li>Churn analysis should deliver a full picture of your customers’ needs and evaluate whether your company is meeting them. </li><li>The cost of getting new customers can be five times higher than the cost of keeping existing ones. Excess churn is terrible for your bottom line. </li><li>Reducing churn means playing the long game. Lots of little improvements add up to better overall performance. With churn, the laws of compounding are on your side.</li></ul>

The Importance Of Churn Analysis

The basic formula to calculate churn rate is very simple: Number of customers cancelling their subscription per time interval / Number of customers at the beginning of that interval x 100

How To Calculate Churn

Churn should be viewed as a prime opportunity to learn and improve.   Churn analysis allows you to evaluate strengths and weaknesses in your existing processes, while improving your ability to deal with, and prevent, future churn.  Losing a few customers may seem insignificant at first. But churn is a metric that compounds over time. That’s why it's a good idea to conduct a churn analysis whenever you notice something out of the ordinary with your churn rate.

Why Analyzing Churn Is So Important For Saas Businesses 

Customer cancellations directly affect your MRR. To clarify this, you can calculate a metric called churn MRR rate , which provides a percentage for the impact of churn on your business.   First add up the MRR of lost customers over a given time period, then divide this number by MRR for the same time period.

Monthly Recurring Revenue (MRR)

The cost of attracting a new customer is always more than maintaining an existing one. LTV is the total value of your customer over the entire length of their relationship with your company.   It's common for new SaaS companies to focus too heavily on acquiring new customers rather than keeping the existing ones, which can be a fatal mistake.

Customer Lifetime Value (LTV)

This metric tells you how much you need to spend to acquire a new customer. As we already learned, it typically costs more to acquire a new one than maintain an existing one.   A high churn rate means you’ll have to spend more money on acquiring new customers, which pushes up your CAC.

Customer Acquisition Cost (CAC)

Unlike regular churn, this metric is one to aspire to. Net negative churn means that total revenue from your existing customers surpasses the revenue lost to churn.  Basically, your existing customers are spending enough extra money to offset the losses from those who churned. You can reach a net negative churn rate in several ways, including by upselling to existing customers, customers renewing their subscriptions or upgrading their plans.

Net Negative MRR Churn

When preparing a churn analysis, it's important to think about churn in relation to both your business and your customers. The following suggested analysis methods will help you achieve this.  Before starting your churn analysis, it's important to ask yourself: what problem am I trying to solve? This will help guide the analysis process and avoid wasting time on doing random searches in the data.

How To Do Churn Analysis

Analyzing churn by cohort is a good way to begin your churn analysis. In cohort reports, you segment your customer base according to a specific time period.  Cohort reports are useful because they produce numbers which are not influenced by new customer acquisition.   They also allow you to easily spot patterns in your customer base. You can easily compare different cohorts to figure out if seasonal trends affect your churn rate.

6 ways to analyze churn: Be Cohort

In this approach, you group your customers according to the length of time they’ve been with your company. Analyzing churn by age is invaluable for identifying patterns across your entire customer base without getting bogged down by too many cohorts.

6 Ways To Analyze Churn: By Customer Age

You can gain important context by examining your customers’ locations. For example, local tax regulations, payment processing methods, and payment gateways vary according to country. It’s essential for SaaS businesses to comply with these rules.  If your customer base is widely spread around the world, you might be losing customers due to a lack of local payment options or lack of compliance with regulations. This is an urgent problem to address.

6 Ways To Analyze Churn: By Geography

Analyzing churn by behavior can reveal important patterns related to certain features of your product. Perhaps customers churn right after they use a specific feature. In that case, your product and engineering teams should dig in further to identify the issue and create a fix.  On the other hand, if certain features help to retain customers, then you should focus on further improving and promoting those. Churn analysis of behavior is also a good opportunity to gain a better understanding of customer engagement.

6 Ways To Analyze Churn: By Customer Behaviour

There’s a critical difference between voluntary and involuntary churn. Voluntary churn happens when a customer deliberately cancels or downgrades their subscription.  Involuntary churn is often due to expired or declined payment cards, lack of funds, incorrect payment information, or poor payment routing . The unfortunate customer is left none the wiser. In fact, they’d likely have stayed with you if it weren’t for involuntary churn.

6 Ways To Analyze Churn: Voluntary Vs Involuntary Churn 

Your business’s approach to taking payments and optimizing for payment acceptance is a vital aspect of driving overall revenue. Even the world’s best sales team can’t overcome a poor payment acceptance workflow.   Your payment acceptance rate is the proportion of successful payments out of the total payments attempted. Here's how to calculate it: Payment Acceptance= No. of successful payments / No. of attempted payments.

6 Ways To Analyze Churn: Payment methods

Customer retention rate is the proportion of customers you've retained over a specific time period. It's the direct opposite of churn rate. For example, if your retention rate is 80%, your churn rate will be 20%. Here’s how to calculate customer retention rate: Customer Retention Rate= (No. of customers at the end of the period - No. of customers acquired during the period/ No. of customers at the start of the period) x 100

Net revenue retention rate (NRR), also known as net dollar retention, is expressed as a percentage. It incorporates several types of customer activity, including upgrades, downgrades and churn.  NRR tells you how much monthly or annual recurring revenue you’ve retained from current customers across a certain period. It requires the data of MRR(Monthly Recurring Revenue)

Gross Revenue Retention Rate Vs Net Revenue Retention Rate

NRR(Net Revenue Retention Rate) can be calculated as:  NRR= Starting MRR-Contraction MRR - Churn MRR + Expansion MRR/Starting MRR x 100 GRR(Gross Revenue Retention Rate) can be calculated as:GRR=(Starting MRR-Downsell-Churn/Starting MRR

Calculating NRR And GRR

To truly understand the nuances of churn and calculate its impact on your business, it's vital to take a holistic approach that considers all the metrics mentioned above.  Customer retention is especially important, as it’s the flipside of customer churn. Improving retention rates not only cuts down your customer acquisition cost, but also helps you improve on the less tangible measures, such as customer satisfaction.

The Importance Of Cross-Referencing Metrics 

6 essential ways to analyze churn, the key metrics that matter, and why you can’t afford to overlook the role of payments in churn.

Churn analysis: 6 ways to measure churn in your SaaS business 

<ul><li>Gathering feedback is one of the most powerful, yet often underutilized tools to reduce your customer churn.</li><li>The best way to gauge customer satisfaction is to gather feedback directly from your user base. </li><li>If you don’t regularly seek customer feedback, you won’t understand what you’re doing well, and what you need to improve. </li><li>Ultimately, reducing churn stems from how well you can understand and solve your customers' problems.</li></ul>

The Criticality Of Customer Feedback

If you connect with customers at the point of cancellation, using a short survey and open-ended questions, you can hone in on why they churned. If you run these surveys for every churning customer, you’ll start to see patterns emerge. You’ll begin uncovering insights for the following key questions.  <ul><li>What are the main reasons for churn?</li><li>Do churn reasons correlate with any customer persona? If so, how?</li><li>What can be improved to reduce churn (product, support, messaging, etc)?</li></ul>

Why Customer Feedback Is Crucial: Discover Causes of Churn

In any business, there are always shortcomings and areas for improvement. If SaaS leaders choose to ignore this and don’t listen to the voice of the customer they serve, they’re likely ignoring the problems that their customers are experiencing. These issues can continue to manifest and increase your churn until it’s been identified and rectified. You can run a variety of data analyses to identify where you are losing customers, but that will not tell you why they are leaving. You can only get that by checking in with customers regularly, particularly after they churn.

Why Customer Feedback Is Crucial:  Proactively Address Future Churn

The very process of asking people their opinions can induce them to form judgments that otherwise wouldn’t occur to them.These so-called measurement-induced judgments can influence later behavior of a customer, as it positively impacts their perception about the company.

Why Customer Feedback Is Crucial: Improve Customer Sentiment

Feedback insights based on customer segmentation offer unique perspectives: <ul><li>Recently Churned Customers</li><li>High Lifetime Value Customers</li><li>High Engaged Customers</li><li>Disengaged Customers</li></ul>

Tactics For Applying Feedback to Churn: Who To Ask

<ul><li>During Customer Onboarding</li><li>During the offboarding process, when customers decide to churn.</li><li>Inside the app, while the customer is using the product.</li><li>A quarterly check-in.</li></ul>

When To Gather Feedback

<ol><li>Start reactivation campaigns after making notable improvements using the feedback.</li><li>Start upselling and cross selling campaigns.</li><li>Build a more informed help center.</li></ol>

Taking Action: What To Do With Feedback

Feedback: Your Hidden Power To Proactively Kill SaaS Churn

<ul><li>A study by Bain and Co. found that a mere 5% reduction in churn can lead to a profit increase of 25-125%. That’s a massive gain for a little amount of work.</li><li>One of the biggest reasons that customers churn is that they don’t know how to use your product. They end up getting no real value from it. It’s a waste of their time and money.</li><li>That’s why it’s so important for SaaS companies to invest in customer education. The better you educate your customers, the more likely they are to stick around.</li></ul>

Reducing SaaS Churn: Customer Education

When it comes to improving your product’s onboarding, there are two main things you need to do:1: Define your product’s Aha! Moment: It’s where your customer realizes the amazing value your product provides.2: Reduce time-to-value: You need to direct your customers towards your product’s Aha! Moment as soon as possible. The sooner your customers see the value, the more likely they’ll stay around. To reduce your time-to-value, you need to create an onboarding flow that takes your new users and guides them step-by-step.

Customer Education Idea #1 — Onboard New Users

One of the most effective ways of reaching customers, particularly if they aren’t logging into your product enough, is via email.While most SaaS companies already realize the value of marketing automation with email sequences, few have done the same with customer education.The two things you need to consider when creating an automated email sequence are:<ul><li>Who are you sending the emails to(personalization)? </li><li>What are you sending(useful content)?</li></ul>The greater the level of personalization, the more effective the emails will be.

Customer Education Idea #2 — Send Automated Email Sequences

<ul><li>The ultimate goal of this email sequence is to get these customers to start using this feature.</li><li>The best way to do this is to make them aware of what the feature is, how it helps them, and how to use it.</li><li>Setting up automated email sequences is a great way of improving customer education while simultaneously saving a lot of time and effort on your part.</li></ul>

The Content Of Your Email

<ul><li>Most SaaS companies have a blog where they post regularly. But most companies only think about their blog as a marketing tool, not as a tool for customer education. </li><li>Your blog posts don’t just have to market your product, they can also contribute to customer education.</li><li>Focus on key problems that your product can solve, and then explain how your customers can solve them.</li><li>The key is to produce content that teaches people how to use aspects of your product to solve a particular problem.</li></ul>

Customer Education Idea #3 — Create Educational Content

An academy is essentially a course that helps customers learn how to use your product and become experts. Academies often delve deeper into the product than knowledge base articles do. The great thing about an academy is that it makes you seem like experts in your field. You aren’t just offering a useful product, you’re also teachers and guides. That will elevate you above your competition.

Customer Education Idea #4 — Launch An Academy

When faced with an issue or a feature they don’t know how to use, most customers will try to find relevant documentation to help them. Your knowledge base is often the first place they’ll look.89% of millennials, who are one of the biggest purchasers of SaaS software, prefer to search online for help rather than pick up the phone.You need to make sure your knowledge base is up to scratch, well organized and easy to understand.

Customer Education Idea #5 — Update Your Knowledge Base

These five inspiring customer education ideas will help you improve customer retention and reduce churn for your SaaS product...

5 Customer Education Ideas to Reduce SaaS Churn

Questions we ask ourselves when we're about to enter the world of work or start a business.<ul><li>How do I make myself employable?</li><li>How will I find my dream job?</li><li>What skills am I lacking?</li><li>How should I deal with clients?</li><li>What are people more interested in - my technical ability, or how I think?</li></ul> The mindset you need to start a creative business and keep it going is the same you need to tackle any new creative challenge.

The mindset required to start a creative business

If you intend to start your own studio, don't. Not yet. First benefit from other's who have done it before you. Find out about their successes and failures. Learn from their mistakes.<ul><li>Get a job. Gain experience from being around other professionals. Make yourself indispensable by showing how you add value to the company. Think about how to improve processes, add services and find new areas of revenue.</li><li>Be a thinker. Think about the writing, user experience, and the project's overall impact.</li><li>Be a sponge, not a Hoover. Ask questions, listen to the answers, and put them into practice.</li></ul>

Prepare yourself (You don't know everything just yet)

When the time is right, start small. This will allow you to take risks and learn what works. <ul><li>Do your homework. Write a thorough business plan. It is a valuable guide that forces you to think about where your work will come from. Make an effort to understand a profit & loss sheet, planning pipeline and cashflow forecast.</li><li>Plan to grow. Write an operation's manual to detail who does what and how often. Plan all the roles a bigger agency will need, then do them all yourselves.</li><li>Find 'your way'. Establish what your studio's vision is.</li></ul>

Start small, but plan for growth

<ul><li>Hire the best you can. People are your most valuable resource. When the time arrives, hire the best people you can afford. Each recruit should fit your values and bring something new with them. If there are people you admire but they're not a good fit for your team, find ways to collaborate with them.</li><li>Create a new normal. Always push boundaries and then adjust to the new normal.</li><li>Never (ever) stop learning. Don't assume things will always stay the same. Actively push change and be curious and experimental in your approach.</li></ul>

Embrace change

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The Fastlane is a state of wealth that is characterized by abundance. In the Fastlane, you don’t trade your time for money and are in complete control of all the wealth-generating factors.
The Fastlane lifestyle is for the people who want to retire young and don’t want to follow the conventional get rich roadmap that involves maxing the 401k, being frugal, and retiring at 65. Being on the Fastlane requires that you turn your back on what society says about wealth. Otherwise, you will never get rich.

The Fastlane

"The Millionaire Fastlane isn’t about being retired old with millions, but about redefining wealth to include youth, fun, freedom, and prosperity."

The get rich slow strategy that is championed by society is a losing game. It is anchored on your time, assumes that everything will go according to plan, and doesn’t involve getting rich at a young age.If you want to get rich, take the Fastlane road.True wealth is authored by three fundamental F’s:<ul><li>Family (relationships). Wealth is strong spirited familial relationships with people.</li><li>Fitness (health). Fitness includes health, vibrancy, passion, and boundless energy .</li><li>Freedom (choice). Freedom is the ability to pursue your dreams and do what you love.</li></ul>

True Wealth Isn’t Having A Bank Balance

The roadmap to wealth is made up of four key ingredients: <ul><li>Your roadmap. The roadmap is the guiding force behind the decisions you make </li><li>Your vehicle. Your vehicle is you. No one can drive you to your financial destination</li><li>Your roads. Roads are the financial pathways that lead to wealth. You can be an engineer, a plumber, a truck driver, etc. The roadmap guides your actions and the consequences of those actions create your financial life</li><li>Your speed. Speed refers to execution or your ability to go from idea to implementation</li></ul>

The Fast Roadtrip To Wealth

Sidewalker mindset:<ul><li>Debt perception: Credit allows you to buy things now. </li><li>Time perception: There is enough time and you could be dead in two weeks anyway.</li><li>Education perception. You don't need to learn.</li><li>Money perception. If you have money, flaunt it</li><li>Primary income source. Whatever pays the most, you will chase it</li><li>Primary wealth accelerator. Luck</li><li>Wealth perception. The one with the most toys wins</li><li>Destination. “I live for today and I’m not bothered about tomorrow”</li><li>Responsibility and control. Indulges in the victim mentality</li><li>Life perception. Life is too short to plan ahead</li></ul>

The Three Road Maps To Wealth: The Sidewalk To Poorness

Slowlane mindset:<ul><li>Debt perception: Debt is evil.</li><li>Time perception: Time is abundant</li><li>Education perception. Educations is important as it helps earn more dollars</li><li>Money perception. Each and every dollar must be accounted for because money is scarce</li><li>Primary income source. A job is the primary source of income</li><li>Primary wealth accelerator. Compound interest</li><li>Wealth perception. Savings, investments, and 401K</li><li>Destination. Comfortable retirement in the twilight years</li><li>Responsibility and control. Works to provide for the family by relying on others.</li><li>Life perception. Settle for less, and give up on any dreams</li></ul>

The Three Road Maps To Wealth: Mediocrity- The Slowlane

Wealth = (Primary Income Source: Job) + (Wealth Accelerator: Market Investments) When in the Slowlane, you mindlessly trade your life for a paycheck.

The Slowlane Roadmap Equation

An excellent book on how to create insane wealth and live a great life. M. J. Demarco shares the secret to becoming a millionaire at any age. And it is not the kind of advice you receive from financial gurus, parents, or friends.

Is the financial plan of mediocrity -- a dream-stealing, soul-sucking dogma known as "The Slowlane" your plan for creating wealth? You know how it goes; it sounds a lil something like this: "Go to school, get a good job, save 10% of your paycheck, buy a used car, cancel the movie channels, quit drinking expensive Starbucks mocha lattes, save and penny-pinch your life away, trust your life-savings to the stock market, and one day, when you are oh, say, 65 years old, you can retire rich." The mainstream financial gurus have sold you blindly down the river to a great financial gamble: You've been hoodwinked to believe that wealth can be created by recklessly trusting in the uncontrollable and unpredictable markets: the housing market, the stock market, and the job market. This impotent financial gamble dubiously promises wealth in a wheelchair -- sacrifice your adult life for a financial plan that reaps dividends in the twilight of life. Accept the Slowlane as your blueprint for wealth and your financial future will blow carelessly asunder on a sailboat of HOPE: HOPE you can find a job and keep it, HOPE the stock market doesn't tank, HOPE the economy rebounds, HOPE, HOPE, and HOPE. Do you really want HOPE to be the centerpiece for your family's financial plan? Drive the Slowlane road and you will find your life deteriorate into a miserable exhibition about what you cannot do, versus what you can. For those who don't want a lifetime subscription to "settle-for-less" and a slight chance of elderly riches, there is an alternative; an expressway to extraordinary wealth that can burn a trail to financial independence faster than any road out there. Why jobs, 401(k)s, mutual funds, and 40-years of mindless frugality will never make you rich young. Why most entrepreneurs fail and how to immediately put the odds in your favor. The real law of wealth: Leverage this and wealth has no choice but to be magnetized to you. The leading cause of poorness: Change this and you change everything. How the rich really get rich - and no, it has nothing to do with a paycheck or a 401K match. Why the guru's grand deity - compound interest - is an impotent wealth accelerator. Why the guru myth of "do what you love" will most likely keep you poor, not rich. And 250+ more poverty busting distinctions... Demand the Fastlane, an alternative road-to-wealth; one that actually ignites dreams and creates millionaires young, not old. Change lanes and find your explosive wealth accelerator. Hit the Fastlane, crack the code to wealth, and find out how to live rich for a lifetime.

The Millionaire Fastlane

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