Why do all the hot SaaS companies like Salesforce, Workday, Box, Hubspot, Zendesk and others not profitable? Have profits gone out of style? Is operating an unprofitable business a viable long-term business model or a current market anomaly? Let’s dig into the counter-intuitiveness of SaaS financial metrics…
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Consider two SaaS companies: Company X signs on a new customer. And then, no next steps – they take their own sweet time onboarding and training the customer. The customer’s left wondering what’s next. Company Y, in contrast has an intensive onboarding process. The customer success manager hand-holds the customer through every step of the way. This customer learns to use the product and is able to see an ROI from the get-go. Which company is going to be able to hold on to the customer a year from now?
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I’ll have to admit, the very first time a customer left our service it escalated to a crisis at our company. As an entrepreneur, it was hard not to make it personal. After brainstorming to find answers, here are some reasons on why customers leave…
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Silota is an analytics firm that provides visualization software, data talent and training to organizations trying to understand their data.