SAAS Business - Customer Renewal.
Software as a Service business is new in Malaysia. Probably only a few of my friends are in this space.
Let me just share with you my observation and analysis of the customer renewal for SAAS product.
When the customer purchase the product, it is because of the sales people. They manage to convince the customer to try the product, experience the power, enjoy the benefits.
Then we were asking why customer renew the subscription?. The answer is they are renewing the subscription due to good product quality, good product features and good support. So at this stage the original sales person is not the key criteria for renewal.
Now based on this finding, we are looking again at our compensation strategy.
You may study this in your company and tell me what you found.
Software as a Service business is new in Malaysia. Probably only a few of my friends are in this space.
Let me just share with you my observation and analysis of the customer renewal for SAAS product.
When the customer purchase the product, it is because of the sales people. They manage to convince the customer to try the product, experience the power, enjoy the benefits.
Then we were asking why customer renew the subscription?. The answer is they are renewing the subscription due to good product quality, good product features and good support. So at this stage the original sales person is not the key criteria for renewal.
Now based on this finding, we are looking again at our compensation strategy.
You may study this in your company and tell me what you found.
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