HOW TO INCREASE THE LIFETIME VALUE (LTV) OF YOUR SAAS CUSTOMERS Iphone Apps

Would you love if your SaaS customers spent more money, and stuck around forever? Here's how you increase your life time value of your SaaS customers.
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Step #1: Optimize the onboarding flow - when someone signs up what they do right then and there will affect their life time value more than anything else.

If someone uses you software heavily, they are more likely to stick around. If they just leave, they probably won't pay or stick around forever.

By using Crazy Egg you can optimize your user onboarding flow.

Step #2: Analyze usage - usage means high LTV. Low usage means churn. From email follow up, to reminders, you want to get people engaged.

Building a good product also helps with usage. Just look at Slack they do really well because people love their product.

Step #3: Survey your users - ask them what they like and what they don't. Talk to them on the phone to figure out how you can create a better product.

Data isn't enough. You need to talk to your customers. By getting their feedback you will be able to create a better product, user experience and eventually increase your life time value.
you have a SAS product the hardest part
is getting people to subscribe
but once they subscribe wouldn't you
love to keep them forever hey everyone
i'm neil patel and today i'm gonna teach
you how to increase the lifetime value
of your customers the first step is
optimizing the onboarding experience
anytime someone buys your SAS product or
more so subscribes to it you need to
optimize the onboarding whether it's a
free trial or you're going right
directly into the paid version you need
to optimize the onboarding the
onboarding is right when they get
started so if they get onboard and they
start using it right away you're off to
the races and you're doing an amazing
job on the flipside when someone buys
your product and they're subscribing
right away but they don't use it for the
first week what's gonna happen they're
probably gonna cancel after a few months
and your lifetime value of your
customers are gonna start decreasing you
need to make sure that on-boarded right
away and they're using it you could
follow up by email you could track your
onboarding experience you could add chat
you can look at what people are doing
and do more of the things that make
people happy and do less of the things
that are confusing people on the
onboarding experiences you can use tools
like crazy egg to watch your onboarding
experience and see how people are
navigating it so you can optimize it
right in other words what you need to do
is look to see what people are doing who
are getting all the way through and look
at all the people who aren't getting all
the way through and see where they're
getting stuck based on that you can fix
it the second thing you need to look at
is how often are people logging in but
they're not logging in often they're not
using your SAS subscription product that
means they're probably gonna turn usage
causes a higher LTV non-usage causes a
lower LTV send email reminders send
reports send text messages get them
engaged and a good way to get them
engaged other than sending reminders is
by continually fixing your product and
the way you fix it which gets into the
third way is by surveying people survey
your users find out what they love what
they hate and what you can improve upon
and don't just take their word for it
look at what they're using within your
application that's getting them results
talk to them on the phone don't be shy
words only tell you a limited amount of
stuff talking to people watching them
seeing that whole interaction will
really help you create a better product
the true way to optimize for a higher
LTV it really does come down to the
product a ship product is gonna have a
ship LTV a great part is gonna have
amazing LTV look at SLAC my team loves
slack I am NOT a big slack user I know
so many things wrong with a slack
website but yet they have amazing LTV
because people love their product sure
you still want to do the first two
methods that I talked about but in
reality you also or mainly want to focus
on creating amazing product and that's
how you create a higher LTV