As the world of business software grows increasingly competitive, B2B SaaS companies search for ways to expand their customer base and boost their bottom line. Yet amidst the endless strategies and marketing campaigns, a simple yet powerful method lies largely untapped: turning former users into advocates in their new companies.
Like a hidden treasure, these former users hold the key to unlocking new clients and reducing churn rates. By offering the right incentives and making it easy for them to become ambassadors for your product, you can gain a valuable ally in the battle for market dominance.
But how can you identify these former users? And what can you offer them to ensure their loyalty and advocacy? Join us as we explore the strategies and success stories of B2B SaaS companies who have unearthed this hidden treasure and transformed their fortunes.
The Benefits of Advocacy
When a user leaves their company, they typically lose their license to your product. However, if they were a satisfied user of your product, they may be willing to recommend it to their new employer. This is where advocacy comes in. By incentivizing your former users to promote your product, you can reap the following benefits:
- Increased revenue: When your former users recommend your product to their new companies, they can help you generate new business and increase revenue.
- Reduced churn: When your former users become advocates for your product, they can help you reduce churn by ensuring that their new companies continue to use your product.
- Enhanced reputation: When your former users speak positively about your product, they can help enhance your company's reputation and credibility in the market.
|Identify former users||Use tools like SifData or UserGems to identify former users who have changed jobs.|
|Offer an incentive||Offer an incentive that is attractive and relevant to the former user, such as a discount on a subscription or a referral bonus.|
|Provide resources||Provide resources that make it easy for the former user to pitch the product to their new company, such as case studies, product information, or video tutorials.|
|Keep in touch||Stay in touch with the former user to keep them engaged and informed about product updates and new features.|
Steps to Turn Former Users into Advocates
Turning former users into advocates can be a highly effective strategy for growing your B2B SaaS business. Here are the steps you should take to implement this strategy successfully:
- Identify your former users: Use a tool like SifData or UserGems to identify when a user changes jobs. You can also keep track of users who cancel their subscription or churn from your product.
- Reach out to your former users: Once you've identified your former users, reach out to them via email or LinkedIn. Congratulate them on their new role and ask them if they'd be interested in learning more about your product.
- Offer an incentive: Incentivize your former users to become advocates for your product. This can be a discount on their next purchase, a gift card, or a cash reward. Be creative and offer something that your former users will find valuable.
- Educate your former users: Once your former users have expressed interest in learning more about your product, provide them with educational resources like case studies, white papers, or webinars. This will help them understand how your product can benefit their new company.
- Encourage advocacy: Encourage your former users to become advocates for your product by providing them with the resources they need to promote your product to their new employer. You can also offer them referral bonuses or other incentives for every new client they bring to your company.
- Track results: Monitor the results of your advocacy program to see how it's impacting your business. Keep track of how many new clients your former users are bringing to your company, as well as the revenue and churn rate associated with these clients.
|Case studies||Showcase success stories of other companies using your product to demonstrate its value|
|Product information||Provide detailed information about your product's features and benefits, making it easy for advocates to pitch to others|
|Referral bonuses||Offer advocates a bonus for each new customer they bring in, incentivizing them to promote your product even more|
|Video tutorials||Provide easy-to-follow video tutorials to help advocates learn more about your product and how to use it effectively|
By following these steps, you can turn your former users into a powerful source of referrals that can help you grow your B2B SaaS business. Remember to be creative and flexible in your approach, and always prioritize the needs and satisfaction of your customers.
- BlueJeans: BlueJeans, a video conferencing platform, identified former users who had left their previous company and reached out to offer them a discount on a subscription to the platform for their new company. They also provided them with resources like case studies and product information to make it easier for them to pitch the product.
- Freshdesk: Freshdesk, a helpdesk software, identified former users who had left their previous company and reached out to offer them a discount on a subscription to the platform for their new company. They also offered them a referral bonus for every new customer they brought in.
- Wistia: Wistia, a video hosting and marketing platform, identified former users who had left their previous company and reached out to offer them a free trial of the platform for their new company. They also provided them with resources like video tutorials and case studies to make it easier for them to pitch the product.
In today's competitive SaaS market, it's more important than ever to find innovative ways to grow your business. By turning your former users into advocates for your product, you can create a powerful source of referrals that can help you achieve your business goals.
Identify your former users, incentivize them to promote your product, and watch your business grow.