Business

Mehwish Yati published in Business, Software, Technology

Is Customer Churn Acceptable for SaaS Businesses

Saas

Churn rate is one of the important metrics that always remain the point of focus for SaaS businesses. Churn is indeed concerning for businesses, however, it can be voluntary or involuntary. Voluntary churn indicates those customers who cancel subscriptions on their will. But involuntary churn rate shows those customers who get their subscription cancelled because of any technical issues.

Whether it is voluntary churn or involuntary churn, SaaS companies need to have failsafe strategies to deal with them and to implement these strategies, they onboard churn management software.

In this blog, we are going to help you know if churn is acceptable for SaaS companies or not.

Customer Churn: a Necessary Evil

Though all SaaS companies put in the effort to avoid churn as much as they can, churn is a necessary evil that cannot be avoided. So is churn acceptable for SaaS companies? No, it is not. However, SaaS companies try to limit churn by opting for various strategies as much as they can. The point is it is not possible to bring the customer churn rate to zero, but strategies are crafted and improvised to minimize the churn realizing that it is a necessary evil. The policies are made to bring churn to the level that is acceptable for SaaS companies.

What Is an Acceptable Churn Rate?

Acquiring more customers to compensate those who are leaving is not a satisfactory strategy to limit the churn rate. Though the churn rate depends on the market where you do business, 5-7 per cent is considered the acceptable churn rate for SaaS companies. Also, 3 per cent is considered a very good churn rate. But not all businesses succeed in limiting the churn rate to this percentage. It depends on competitors and the business market as well. Today, there are varying customer churn reduction platforms that are very helpful in limiting the churn rate. You can also adopt one.

How to Make Your Churn Rate Acceptable?

Now that we agree that churn is inevitable in SaaS subscription businesses, it is important to find ways to bring it to the level that is acceptable for SaaS companies. So, here we are to help you. Following are some of the strategies that are workable when it comes to reducing voluntary and involuntary churn rates.

Opt for Smart Dunning

Dunning is important to recover payments without affecting your customer relations. Dunning is the way of effectively communicating with the customer so that payments can be recovered from the customers. Also, specific templates for dunning emails and notifications are designed and used so that the tone to ask customers to pay their charges may not sound harsh. Many churn software for SaaS also offers dunning management. It is better to go for smart and automated dunning.

It is not easy to manage dunning manually. Why?

  • Dunning emails need to be scheduled
  • Dunning emails have a specific template and a format
  • Dunning notifications and messages have a specific tone

And to manage all these things for all subscribers is not a piece of cake. Therefore, SaaS businesses should go for smart dunning so that payments can be recovered from customers and they do not leave their services or products.

Proactive Approach

To avoid customer churn, a proactive approach is the best strategy. And what to do when you intend to be proactive?

  • Keep track of the customer journey
  • Do customer segmentation
  • Communicate with customers regularly

The most important thing is to never sever ties with the customers. Always maintain communication with the customer.

Conclusion

Nothing can help more than churn management software when it comes to filling the revenue leaks. Yes, it is a fact that customer churn cannot be avoided, but you can bring it to the level where it will be acceptable for your business. No strategy has helped any business in minimizing the churn to 0%, but that does not mean you need not work on it. You need to work on a churn reduction strategy that can help you in reducing the churn to the minimum level. Subscription Flow is one of the leading churn management software that can help you achieve revenue targets by minimizing customer churn rate.

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alexhobbs published in Business

Impounded Vehicle Insurance

There can be a lot of reasons why your vehicle has been impounded. Perhaps you did not know your policy had expired. Was your vehicle insured but not insured for the right use? Maybe you thought your own insurance policy allowed you to drive other vehicles or someone else used your vehicle thinking they were insured. Let us help you in this condition. We can arrange documentation instantly and the policy itself lasts for 28 days, so there is no need to sit this one out. Our professional team will help you to take the first steps to get your vehicle back on the road.

Our short-term impounded vehicle insurance can help you in the release of your impounded vehicle when it is in a police compound. You should get documentation from the compound which includes insurance documentation. 

Many other insurance policies particularly exclude the use of impounded vehicles from compounds.

Our insurance policies designed particularly for this purpose

It is a 28-day policy, particularly for releasing an impounded vehicle from the compound.

The insurance cover is third-party only.

The important documentation to release your impounded vehicle from the compound can be mailed to you as soon as we have all the information. Do not pay more compound storage fees than you have to.

As an insurance broker, Release my vehicle insurance brokers have been assisting people to arrange vehicle insurance in the UK for many years.

Can you use the one-day vehicle insurance to collect your impounded vehicle?

You just cannot use an insurance policy issued for one-day in order to secure the release of an impounded vehicle from the police compound. To release the vehicle from the police compound. To release the vehicle, the registered keeper will require an expert impounded vehicle insurance policy that is valid for 28 days.

Can you name additional drivers on impounded vehicle insurance?

It is not possible to include an extra named driver added to your impound insurance policy.

Why do the police impound vehicles?

 Under the traffic law, the police have the power to impound any vehicle that is being driven without a valid insurance policy or where the driver does not hold a proper driving license. If the driver has committed the offense or the police are not able to establish insurance coverage for being at the roadside, the car will be impounded and taken to the impound where you will be charged a release fee plus daily storage fees until the vehicle is collected.

There is a strict time limit of 14 days and the notice will be handed to you at the roadside. After this date, there is a risk that your vehicle will be auctioned or thrown away. When you tackle our impounded vehicle insurance, we deliver your certificate of insurance by mail as soon as your payment has been received.

Our impounded vehicle experts can assist you to find the right policy and cover for you. You need to act quickly if you want to save on impound costs which is why this kind of insurance can prove to be the perfect solution.

Experts in impounded vehicle insurance

To release your impounded vehicle, you are required to provide proof of insurance for the next 30 days. Whatever the reason your vehicle was impounded, most standard policies will have certain restrictions which do not allow you to collect your vehicle.

Simple temporary insurance

In this instance, temporary insurance is required to help release the vehicle. There are many reasons for vehicles being impounded, from no insurance or when the vehicle has been deemed unsafe for the road.

We are a combination of some of the most competitive insurance brokers in the UK all of which are keen to save your time and money. It is a really simple procedure. Just complete the form on our website, and we will introduce you to our partners that have particularly asked to quote for businesses like yours. 

How does it work?

Just complete the quick and easy form. We will scroll through our approved insurance brokers to find you the best deals. Our insurance brokers will get in contact to provide you with competitive quotes. Just contact us and we will provide you with what you need.

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Amrit published in Business

THANK YOU: AN ICEBREAKER

I don’t know if any of you have realized that simple words like thank you can create a huge impact on our relationships and become a great icebreaker if you look at it. We have been taught to be grateful in our life and thank all those people who helped us in some way or another. As we grew this habit grew too and now every day we have instances where we tend to thank people for their contributions. 

We have a great tool to make the act of saying thank you really classy. For that, we recommend using virtual thank you cards that are specifically designed to adhere to your personal and professional requirements. These cards are full of designs that are attractive and meaningful at the same time. 

Each of the cards is designed with utmost love and affection to provide you with the perfect present for your loved ones. You can add pictures, gifs, and music to make it more personalized. The ability to schedule the virtual thank you cards in advance also becomes a great feature for all. 

It’s just like passing around a huge collage wherein everyone can sign and fill up their messages of love and respect. You can also download them as a pdf or a video very easily. 

LITTLE CAPTIONS!

If you are in need of some lovely words to showcase your gratitude, we have a generalized collection ready for you. Just choose the ones that you like and share them with your dear ones. Each of these can be added after your own personal message and can add great value to your virtual thank you cards, take the idea of gratitude to a whole new level, and set an example that shows how much you care. 

  • “You’re the best.”
  • “I’m humbled and grateful.”
  • “You knocked me off my feet!”
  • “My heart is still smiling.”
  • “Your thoughtfulness is a gift I will always treasure.”
  • “Sometimes the simplest things mean the most.”
  • “I’m touched beyond words.”
  • “All I can say is wow! (Except, of course, I’m grateful.)”
  • “My heart just keeps thanking you and thanking you.”
  • “You’re a blessing to me.”
  • “Thank you for being my angel.”
  • “Bless your big and generous heart!”
  • “This has been a challenging time, and I appreciate you so much.”
  • “You have no idea how much your help has meant.”
  • “For all the little and big ways you’ve pitched in…thanks!”
  • “There was nothing random about your acts of kindness. Thank you for all you have done.”
  • “I can never thank you enough. But this is a start.”
  • “You always know how to make life brighter for everyone you know.”
  • “I can’t possibly repay you.”
  • “You are always so helpful.”
  • “You make the world a nicer place.”
  • “You went above and beyond, and I am touched and grateful.”
  • “You took the common courtesy to an uncommon level. We’re so grateful for your help.”
  • I can’t even begin to explain how much your help meant to me.
  • Thank you for always stepping in to help when I need you most.
  • Thank you for taking the time to help me, it really meant a lot.
  • Thank you for sharing your home with me, I had such a great time catching up.
  • My stomach (and I) want to thank you for that delicious meal.
  • You made me feel so at home that I forgot I wasn’t! Thank you for having me.
  • Thank you for putting a roof over my head this weekend, it was so kind to invite me into your home.
  • Thank you for hosting my event, my day just wouldn’t have been the same without you!
  • Thank you for the raving letter of recommendation, I can’t wait to start my new job.
  • Have a drink with me.
  • You’re a peach! Thanks for your help.
  • Where would I be without a friend like you?
  • What you did for me was kind of a big deal. Thank you.
  • How did you become so wise? Thanks again for all of your advice.
  • You are my angel, thank you for your kindness and compassion.
  • You know all my secrets and weird quirks, yet you’re still my bestie. Thank you.
  • I don’t say it enough, but I just wanted to say thank you for always having my back.
  • Do you have to train to be so amazing? Because you are definitely the best friend anyone could ask for!
  • You’re my partner in crime, thanks for always supporting my crazy ideas!
  • You are a ray of sunshine to me and everyone else around. Thank you for brightening my day!
  • Words can’t even express my thanks, but I hope this gift will help show you how grateful I am for a friend like you.
  • Thank you for helping me through that difficult time. If you ever need a shoulder to cry on, I have two for you.
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