Growing SaaS startups use Formaloo to decrease churn rates and increase customers’ lifetime value. The SaaS startup in this case study is an email and messenger marketing platform based in New York. Read on to see how this SaaS startup enables customers to succeed.
This startup had more than 1,000 active customers when they signed up to use Formaloo, and that’s where Formaloo shines! This amount of customers and anything more than 1,000 active customers gives Formaloo enough fuel to do its magic.
Location: New York
Increase in average customer lifetime value
Increase in retention
Increase in new upgrades
Formaloo helps us enable our clients for success. Formaloo allows us to have a full picture, being able to trace our clients’ interaction across our applications.
— IGOR, HEAD OF MARKETING
Access and use data faster and more efficiently to make better business decisions
This SaaS startup had multiple sources of data. Their clients could interact with multiple applications, including a website, a blog, two mobile applications, an API integration, and a marketplace of multiple integrations with other SaaS services. All of these data sources had their own metrics and events in vastly different ways.
Having too many data sources, they needed to be able to use the data generated from these sources more efficiently. They also wanted to provide an easy way for marketing and product teams to have quick access to the data generated from these channels.
Therefore, they chose to implement Formaloo to get all of their data from their different sources into a single funnel and to make data available to everyone in the company in a more accessible and understandable manner.
Track and analyze existing customers’ data within a tight timeline and launch marketing campaigns based on data insights
This SaaS startup wants to make sure its clients are successful, that they get high conversions using the chat and email systems, and also high ROI from using the company’s services.
They look closely at the conversion funnel from the beginning of each conversation to converting through the call-to-actions. For each market, they have targets they want clients to hit, so they know they are reducing churn and increasing conversion.
They use Formaloo to integrate all of their data sources in one single platform and get single-view profile for each of their clients. This helps them learn about how their clients are interacting with their services.
Using custom actions in Formaloo, they incorporated a scoring system that helps them measure their clients’ success. Formaloo’s scoring system also enhances them with a powerful recommendation system to learn what they can do to improve their clients’ success.
Since implementing Formaloo, the departments in the SaaS startup are no more drowned under different KPIs and charts from different departments. They have been able to gain a deeper understanding of their clients’ journey.
To integrate their customers’ data and for their customers to succeed and get high ROI, this SaaS startup decided to use Formaloo solutions.
With Formaloo, they understand how they can enable their clients to succeed. After six months of using Formaloo insights and running based on its recommendations, the average lifetime of their clients raised by 45% and they succeeded to get a 5% increase in their upgrades.
“Without Formaloo, we couldn’t put all this together this efficiently because that would have had to pull in one or even multiple data scientists. And even if we did hire data scientists, it wasn’t guaranteed that we would be able to achieve these accurate results through the charts they would generate. Formaloo helped us manage our data in the best possible way and enable our customers to succeed.”
Have a growing SaaS Startup? Here’s your opportunity to bring success to your clients.