Using videos in the customer lifecycle can be the game-changer you need for your B2B SaaS business. Here’s how you can use it to drive higher engagement and more repeat sales.
Did you map out a phase-by-phase customer lifecycle management strategy?
Does it drive the desired outcome or die soon after the initial buzz?
The latter happens when an incorrect medium is chosen to deliver content. After all, it is not what you communicate but how you do it that matters, and that must continue throughout the customer lifecycle.
Take the example of an e-commerce SaaS solution provider. SaaS businesses thrive on subscriptions and that comes with a loyal customer base. So, the attempts to garner loyalty begin right from the lead nurture phase.
During this phase, businesses send out emails containing links to feature-specific blogs and articles. These could be articles introducing or explaining more about a new plugin, automation feature, or something else.
But do readers actually open these links and engage?
Maybe not, and that’s despite the awesome content you created.
Why not try a medium that can drive 96% or more engagement? And build personal connections too? That’s exactly what video content does but that’s not all.
A powerful video marketing plan can do that throughout the customer lifecycle —right from the awareness to the advocacy phase.
Let’s dive into some interesting ways to use videos throughout your customer journey.
For the sake of clarity, we'll try to understand how this can be done in each phase of the customer lifecycle.
The product awareness phase is the most difficult to crack.
It is a period when the customer has no clue about your product, let alone its features and uses. Unless you create super engaging content, they have no reason to learn about it.
Also, the present-day consumer is busy. So, it becomes important to deliver content they can leisurely consume in their spare time with minimal effort. Now that definitely excludes reading lengthy articles. This also helps enrich your customer experience from step 1.
So, why not switch to what the generation wants?
Yes, it’s time to create video content. You can make it even better by creating separate videos for the targeted customer personas. This instantaneously connects with the reader because it is solving a problem.
However, most businesses don’t create separate content mainly due to time and cost constraints. You don’t have to be one of those businesses.
Conduct a customer lifecycle analysis which helps asses your customer experience at different stages. This is done by assigning metrics to each stage.
If videos work for you then check Trainn which lets you create cost-efficient educational videos in under 5 minutes.
This gives you the flexibility to create better awareness through laser-focused videos. You can even measure engagement for each video with Trainn. You can tailor the video content according to the customer's preferences.
Once you’ve tackled the awareness phase, you’ll be communicating with an informed lead. So, things become easier because they already know what your product does and how it is going to benefit them.
At this point, to convert them into actual customers, it’s important to further personalize video content and manage your customer lifecycle.
You must go one step deeper and create content based on the type of customers you are dealing with.
For example, there could be large organizations and small manufacturers showing interest in your services.
Segregate their problems based on the sales volume and pitch a particular plan. While one group might be okay with the basic plan, the other might need something more advanced.
So, don’t shy away from creating separate videos.
Customer retention plays an important role in the business ecosystem as it lowers acquisition costs.
In fact, retention is five times cheaper than acquisition.
That’s because, in the retention stage of the customer lifecycle, you are interacting with an aware customer from your own database. Hence, there is no expensive PPC or lead generation involved.
Still, there is a need to build a personal connection with your existing customers. That can be made possible with specialized video content delivered by in-house specialists.
When you understand the customer lifecycle you'll also acknowledge the importance of retention to your bottomline.
This phase in the customer journey needs informative and engaging videos that inform customers about the product's new features and updates.
The videos should explain how these new features will benefit them greatly and also provide stepwise instructions on how they can use these updated features to the fullest.
This makes existing customers feel special. Let them know that not everyone has access to these videos. Inform them that they have received these videos as they are prestigious customers, someone who has tried and tested your product.
After controlling the churn, you can now shift your focus to getting more out of your existing customers.
It is now time to cross-sell and upsell to an existing customer base. This is a delicate phase because you don’t want to annoy them. They’ll simply unsubscribe from the emails or quit the social media community.
Sending too many emails and notifications can drive away your existing customers.
Here, a data-driven strategy is crucial and with Trainn, it’s simpler. Its video analytics dashboard provides detailed insights. It becomes easier to measure customer engagement and identify high-intent leads.
You can then explore cross-sell and upsell opportunities with these prospective leads and convert them into full-fledged customers.
Loyal customers are the best brand ambassadors any business can have. However, earning customer loyalty isn’t easy. Businesses must go the extra mile to earn that loyalty. It depends on how you create positive sentiment around your brand.
You can do that by including customer success stories in each video followed by a testimonial. This is great for lead generation and also for creating a strong sense of community on social media platforms.
You can create and deliver video content to customers to make them aware of the features, updates, functionality, and uses of the product. This goes a long way in boosting customer satisfaction.
Effective onboarding, ongoing customer support, and attractive rewards are some more ways to foster loyalty.
SaaS businesses thrive on customer loyalty. Unlike physical products, it’s not a one-off deal. In the world of physical goods, conversion is followed by disengagement.
That phase simply does not exist in the SaaS customer lifecycle as there’s scope for repeat business. Once the leads are generated through external promotions, they can be reused several times. This lowers the overall customer acquisition costs and optimizes revenues.
However, that’s not easy. There are a bunch of competitors out there eager to lure customers. This is quite evident from the 20% average churn rate in the SaaS industry.
This is for businesses netting over $10 million annually. These are people who’ve done their product and market research. Still, they end up losing 20%.
Everyone is creating great products, but the winner is almost always the one constantly talking about and promoting their products. Doing that effectively is crucial, and text-based content isn’t the answer.
Your customers don’t want to do the hard work and read a block of text. Technology is changing and so are customer expectations.
With the rising internet speeds, consumers now seek content they can sit back and consume. Nothing fits in better than videos. Make them informative and there’s no looking back.
Trainn lets you build educational video content throughout the customer lifecycle. In under 5 minutes, you can build great videos, track engagement, and do much more. Want to know more? Let's talk.