Boost renewals > 90%
Time: 2 weeks
Boost your renewals rate > 90%
Subscription renewals an ongoing concern? Our AI-driven analytics delivered some eye-popping answers. Read on ...
Software-as-a-service or Saas has established itself as a clear win-win business model.
However, a lot of SaaS companies face issues of low renewals. This is a big business model risk.
The key concern is - there is a lot of money being spent and investments being made to get people onto your platform.
And once you are on the platform, the engagement strategies start kicking in - to keep you on it.
Unfortunately, the reality is, that for a lot cases, the users are not sticking around beyond the initial subscription period. Despite all the efforts being made in retention.
In fact, most end up leaving with little hope for recovery.
This churn affects the value proposition and ultimately the profitability of the platform. It can be argued that renewals is one of the most strategic priorities for a SaaS platform.
One of the world's leading marketplaces for B2B was facing such a dilemma.
They turned to JetFerry to see if our AI-driven BI could provide some answers.
JetFerry's AI-driven BI platform dug deep into their data and after doing some crunching and applying various AI algorithms we came back with you some startling answers.
so far, so good. We now had a clearly defined insight for potential users who would appreciate the platform's value proposition and align with it more closely.
The next step was in capturing this opportunity.
Enter, JetFerry's Prescriptive Analytics.
We identified the existing low performers and the under utilized sales resources and mapped them across to the new opportunity.
This allowed the company to re-purpose their resources effectively to monetize this opportunity.
The end result was a win-win for marketplace and its users. The marketplace was able to find a customer profile that was likely to renew at a whopping 3X of existing renewal levels.
This is just one example of how JetFerry provides answers, not just analytics!