If you're reevaluating revenue growth opportunities for your SaaS, you're going to want to look at the entire customer experience. In other words, the growth levers you consider should span beyond acquisition alone — especially given that improving retention and monetization has 4-8x the impact of focusing on acquisition.
Just as importantly, you'll need to know how to make this shift at your company, and with your team. Seeing the opportunity to drive more revenue "post-acquisition" is critical, but it's just a good idea on a shelf until you develop a comfort level for challenging the status quo (and asking "why"), digging for insights, and building scalable experiences that deliver better customer outcomes.
We sat down with Patrick Campbell, founder & CEO of ProfitWell, to talk about exactly this.
In the last decade, Patrick has become very well-known in the SaaS space for his expertise in pricing strategy and subscription business data (in fact, he's the source for the stat above about the value of retention and monetization over acquisition). He's also the CEO of an 80-person SaaS company, himself.
In this interview, we're discussing with Patrick:
- How ProfitWell encourages team members to surface new growth opportunities at every stage of their customers' experience, by maintaining a culture of "thinking critically & being disagreeable"
- Why research is such a critical component of ProfitWell's ability to scale
- How departments are structured around specific outcomes