Analytics and Growth for Enterprise Software Products

A lot of the talk about “growth” centers around signing up users, conversions. It sure feels good. But ultimately, you want long-term customers who can also be your advocates?

Do you have a clear strategy to turn customers into evangelists?

On March 1st we co-organized with SaleSide the Nearsoft Talks in Barcelona during Mobile World Congress, one of Europe’s biggest tech events. This gave us the perfect excuse to share our SoftwareDeTools‘s experience building and launching enterprise software.

In a previous post, I talked about user retention strategies. In this post, I will go more on depth on the analytics.

Growth

Juliana Mendez, founder of SaleSide shared with us what she has learned working with startups and corporations to apply growth strategies based on data and analytics. Here you will find Juliana’s SaleSide presentation.Growth has been a buzzword for the last couple of years. The results of applying it at early stage companies is well documented with many thought leaders like Andrew Chen, Morgan Brown, and Sean Ellis
coining the term a few years back.

I find the efforts that did not go as well to be the ones where we can extract the most wisdom and apply it to the work we are doing

Kelly Watkins, Global Marketing, Slack

The mindset of product owners and entrepreneurs regarding marketing and growth is mainly holistic. So growth strategies applied in the customer life cycle need constant information for it to continue to be valid and avoid silos

Juliana Mendez, CEO, SaleSide

Measuring Success

Experimentation is a key part of a growth strategy. It is important to involve all of the team through the product development process. As Juliana pointed out, team members need to get past the Build stage of the workflow and concentrate their efforts in the measuring and learning stages of the strategy.

Some of the most common mistakes teams make during the initial stages of the growth strategy is not setting clear objectives and set the key questions they would like to get answers – Juliana Mendez, CEO, SaleSide

Creating a North Star Metric is one of the most important aspects of any growth strategy. It captures the core value of what your product delivers and the main reason why your customers pay for your product.

The North Star Metric is not a one size fits all analytics data point. You have to understand your unique perspective and also your clients point of view and align your team around it.

These are some good points Juliana made during her presentation,

  • Understand the main value for your most loyal customers
  • Quantify this value in a single number

You can reach Juliana Mendez via Twitter, LinkedIn, or directly via the SaleSide website.

Turning Your Loyal Customers into Product Advocates

During my presentation, I discussed the retention funnel we use at SoftwareDevTools. I described the different phases that a user goes through. Once you have retained a customer, it has the potential to become an advocate for your software product.

Final Thoughts on Customer Retention

It is important for your team to understand how they fit in the retention strategy. Our integration of Freshdesk and Trello does that. This team alignment also makes the client feel he is being taken care of. Your customer will feel confident that you have it all under control and that the right persons gets involved at the right time to solve his problem.

This level of personal support leads customers to become your advocate.

I talked about Freshdesk & Trello as customer support. This plays an important role in achieving retention and reducing churn.

The onboarding experience is critical as a first time user. You need to give new customers all the information they need to achieve their goals.

During the education phase you start building a relationship with them. You slowly build user confidence in your product and thrust that you will deliver exceptional results. The user is confident now that they have made the right choice to choose your product. Be careful not to build any customer support anti-patterns that would leave your customer is left with a bad user experience.

Your customers will turn into your advocates when they believe that without your product they would not have achieve exceptional results.

This is done with strong support from your team in all areas. From payments, accounting, QA, development, marketing, and product features: everyone should be aligned to strengthen the relationship for customer success.

The interaction process of multi-disciplinary teams is what we wanted to facilitate with our Trello Power-up for customer support teams that leverage Freshdesk.

I would like to thank Moritz for the beers it sponsored for the event and for healthy snacks from the The Healthiest Choice. Barcelona was a great place to have our first international Nearsoft Talks and we would like to repeat it this summer. Sign up to get notified.

If you are interested in getting to know more about product development and customer support, follow SoftwareDevTools LinkedIn page or their blog where they discuss remote work, product management, bots, and more topics about the software industry.

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