LEARN HOW A POSITIVE USER EXPERIENCE CAN ENSURE CUSTOMER RETENTION AND UPSELL WITHIN SUBSCRIPTION BUSINESSES
As industry leaders in user experience research, we are pleased to offer you access to our latest white paper – The Subscription Economy: Unlocking the Power of User Research to Drive Growth and Retention in SaaS.
As of March of 2021, it was reported that a whopping 78% of adults currently have subscription services. Not only is this business model thriving, but it is also rapidly growing. In order to maintain this growth and success, businesses with a subscription model need to understand what delights their customers through a positive and intuitive user experience – that’s where UX research and testing come in.
To better understand the value of UX research in subscription-based services, this whitepaper will dive into various facets of subscription-based services within the context of Software-as-a-Service (SaaS) companies. It will then cover the drivers of the SaaS industry, before honing in on how businesses in this space can unlock the power of user research to drive growth and retention. We can’t wait to show you how user experience research can be used to build a successful upsell and churn reduction strategy!
About the Author: Nicholas Aramouni
Nicholas Aramouni is a Senior UX Researcher and Communications Manager who has developed his qualitative and quantitative knowledge by working within a variety of industries, including music entertainment, media, technology and education. Across his career, Nick has conducted numerous international studies in countries all around the globe, placing importance on developing international partnerships as a means of better understanding the various cultures and markets that push UX researchers further. Nicholas has enhanced his involvement in UX by also working as a marketing content strategist and speaker in the field. He has proudly completed a B.A in Policy Studies, a minor in Business Innovation and a B.A in Education.
Read More Articles by NicholasDiscover our blog. Resources hub. The Subscription Economy
The Subscription Economy refers to the modern business model in which companies offer products or services through recurring subscription plans. In the Software-as-a-Service (SaaS) industry, this model has become increasingly prevalent. To thrive in this competitive landscape, businesses must prioritize both customer growth and retention.
User research plays a crucial role in achieving these goals. By conducting comprehensive user research, businesses can gain valuable insights into their target audience’s needs, preferences, and pain points. This understanding enables companies to develop and enhance their SaaS offerings in ways that align with customer expectations and provide maximum value.
User research helps identify opportunities for product improvement, optimization, and innovation, allowing businesses to stay ahead of the curve and meet evolving customer demands. By addressing user pain points and delivering exceptional user experiences, companies can foster customer loyalty and reduce churn rates.
Furthermore, user research can uncover valuable data on customer behavior, usage patterns, and satisfaction levels. This information allows businesses to segment their user base, personalize their offerings, and implement targeted upselling and cross-selling strategies. By identifying upsell opportunities and tailoring promotions to specific user segments, companies can maximize revenue potential and drive growth within their existing customer base.
In summary, leveraging user research in the Subscription Economy empowers SaaS businesses to gain deep customer insights, improve their products, enhance user experiences, drive customer retention, and unlock upsell opportunities. By prioritizing user research, companies can establish a strong foundation for sustainable growth and long-term success in the ever-evolving SaaS industry.
