It’s what we all want, isn’t it? Increasing your ROI is a main focus of any SaaS company and is even more important in the growing stages when capital is scarce. Here are a few accountant approved tips on how to increase your ROI and make sure your investments are paying off.
- Outsource when it makes sense – As we always say, you really can’t overestimate the benefits of outsourcing things that will just bog your company down. Marketing, administration, and yes, accounting, are all things that might be best left to someone who can come in hourly and get stuff done. You’ll save money in the long run handing off these projects to someone with experience in the industry and give yourself more time to work on what you do best
- Keep your customers happy – Cost per lead, customer lifetime value, and churn…all of these are some of the most common metrics that SaaS companies measure to increase ROI, and all of them come down to the same thing: keeping customers around is a lot more lucrative than getting new ones. Invest in your customer satisfaction, customer and customer experience. Send out surveys. Ask questions. Make sure you are keeping your best assets around.
- Pick the right employees- SaaS companies need to be choosy about their employees, as they are probably the most important investment they make. Once you take the time to hire someone, it’s in your best interest to keep them around, so make your interview process as detailed and grueling as it needs to be to make sure you’re getting the right people on board.
- Stay on top of your MRR – Staying up on your monthly recurring revenue is of key importance for SaaS companies. This metric, more so than any other, is a realistic assessment of how your company is doing at any given time. Keep track of your MRR each month to compare and contrast how you’re doing at different times in the season, and use it to make the important marketing and sales investment decisions that will affect this number.
These tried and true tips will help you stay on track to keep your ROI at a good level for managing funds and future investments.
