Every SaaS company wants to achieve high product success. Unfortunately, it’s not that easy (sorry). The truth is that there are many factors that influence the success of a product or service. In running software as a service company, there are many questions that come to our minds about our customers, such as: How would you know when your customers are fulfilled and have achieved their ideal results? Why do your customers churn? And, what can you do to avoid losing them before they actually leave?
Sadly, there is no magic answer to all of these questions, but there are strategic platforms like FROGED that can offer the resources all-in-one and support you need to achieve product success.! Introducing Product Success Platforms–let’s dive in!
This article will cover:
- What are product success platforms?
- The benefits of having a Product Succes Platform
- How to choose the right Product Success Platform
- Features of a great Product Success Platform
What are Product Success Platforms?
If you’re looking for a platform that helps guarantee your clients achieve their ideal results with your product, we have a solution for you: Product success platform. As a SaaS company owner, you’ve probably heard about them and their importance, but let us explain why.
A product success platform is software that collects information through various tools that help to optimize various metrics across your entire product, including downloads, customer signals, engagement, feedback, and product usability, so owners can have a bigger perspective on their users.
Some of those platforms are all-in-one solutions and offer various tools and intelligent integrations at the same time to take product success to the next level. These, including FROGED, are the ones experts consider to be the gold standard.
What are the benefits of having a Product Success Platform?
The benefits of having a product success platform are numerous, which is probably no surprise. Here are some of the most important benefits of having one for your own SaaS product.
- Enhance customer experience
- Increase signup conversion rate
- Resolve support issues faster
- Understand your customer’s interactions with your product and make informed product success decisions
- Reduce churn
- Identify opportunities for upsells and cross-sells.
- Align companies with their customers
The benefits above ultimately help you retain your customers by providing a flawless product experience. And, as the Harvard Business Review points out, “A 5% increase in customer retention can increase company revenue by 25-95%.” Now that’s something to think about.
How to choose the right Product Success Platform?
Here’s a difficult one! Choosing the right platform can be tricky. First of all, before choosing the platform that suits best for you, you should think through what you actually need. We usually search for the “best product success platform,” but it’s possible that what might be best for someone else might not be the best for you. Here are some factors you should consider before selecting the best product success platform.
Integrations are a strategic investment that businesses can make today. Integrating your business systems gives you a 360-degree view of your customers, data, and organization, and it creates a better customer experience and improves your internal workflow. Your company will be more productive, profitable, and efficient if done correctly. FROGED has 2k+ integrations that help optimize anything from customer support to behavioral marketing. These include Slack, Whatsapp, Zapier, Segment, Jira and more. Check our FROGED integrations or book a demo with one of our integrations specialists to learn how to get started!
What’s your final destination?? What are your goals? Asking yourself those questions will allow you to create a custom strategy based on your success goals, and this is so important! Take time to look at your goals, both short-term and long-term. Some examples of success goals could be:
- Churn or Retention
- User Engagement for your product
- Good customer onboarding
After determining your goals, choosing the right product success platform will be simple as ABC.
What are my product needs in the long term? How can this solution support my business needs as it grows?
Scalability means being able to grow without being hindered. It requires planning, funding, the right systems, staff, processes, technology, and partners. What’s more, it requires a product success platform in line with all of it, and it might look like an all-in-one solution, with various integrations able to be used at the same time and with expert support.
Proactive customer support
The right product success platform must offer proactive customer support and experience. As told before, those platforms provide a 360-degree view of your customers and analyze how to retain them or improve your business to be more successful. So, offering good customer support is the key to success. It will ultimately create power users, reduce tickets and improve product adoption – the key ingredients for the ultimate user’s experience.
Check The Essential Guide to Choosing a Customer Success Platform from BOX and find out how to choose the right platform in a detailed way.
Features of a great Product Success Platform
FROGED differentiates from other product success tools and platforms as it’s an all-in-one Product Success Platform. It’s also designed to evolve the entire customer lifecycle, and it’s made by a SaaS for SaaS companies to make your life really easy and achieve the customer success your company deserves.
FROGED offers three main features to be a great platform; let’s dig into them!
Onboarding is customized for everyone!
A customer’s post-purchase experience sets the tone for their relationship with your company, especially when talking about SaaS businesses. Using FROGED onboarding customer solution, you’ll be able to:
- Reduce time to value using product flows and in-app messaging for early adoption of new product features.
- Built brand advocates personalizing each experience with behavioral-based campaigns and communication tools.
- Empower customers by giving them more control with omnichannel conversations, flows, in-app messaging, and educational tools.
A proper onboarding process helps increase signup conversions and educate users about your product.
If your customers stay engaged, they will probably upgrade their subscription to your product. The Froged platform provides retention solutions that are tailored to your and your users’ needs. They allow you to:
- Lead to Product Success through NPS to Product Flows, gaining valuable insights and preventing churn.
- Create a more dynamic Customer Care using our powerful in-app widget for messaging, live chat, knowledge base attachments, and so much more.
- Make onboarding easy (like, really easy) by creating personalized emails and retargeting campaigns with A/B testing based on user engagement with your product.
Proactive Customer Support
On our platform, we also offer proactive, omnichannel customer support across every channel, every day. We designed this solution to reduce tickets and centralize customer communication, all while providing secure end-to-end encryption. By using this tool, you will be able to:
- Create Power Users so each user will receive different support based on their usage and needs.
- Reduce tickets with more automation and more omnichannel conversations.
- Improve Product Adoption by using product flows to guide users to engage in new product features, A/B test updates, or re-target dormant users to prevent churn.
As SaaS companies continue to grow, organizations realize the importance of creating a good product success strategy; a buzzword that’s become crucial to consider when building successful SaaS companies.
All of these strategies are being merged under the umbrella of customer success, not just as a pioneering idea, but as an all-encompassing idea that is being implemented across the entire organization. It’s time to think about using product success platforms that will reduce user churn, expand customer satisfaction and upsell opportunities. Book a demo with FROGED today and learn how to optimize your Customer Experience with one powerful product.
Interested in finding out more? Become an expert in product Success by downloading our Ebook and reading the following blog posts: