Thank you to James Wells and the LNS Research team for highlighting Oden and our customers - retention and expansion come from focused effort and dedication to customer outcomes, and doesn't happen by accident!
SaaS companies, on average are among the lowest in customer retention. A report on SaaS by Apptension shows that SaaS companies are third from the bottom, with only 68% customer retention. At 5x-7x the cost to gain a new customer compared to keeping an existing customer, SaaS companies have their sales teams on the hamster wheel. There are a few in the industrial SaaS space that are killing it. Namely QAD Redzone, MasterControl, and Oden Technologies. With customer retention in the mid- to high 90s, these companies have figured out how to make their solutions sticky. What are they doing that is different? A few things. ✔ Compelling Success Stories ✔ Customer Intimacy ✔ Journey Stewardship ✔ Coaching and guiding on Organizational Change Management. Want to improve your stickiness? Own Organizational Change Management for your buyers. Interested in learning more? Check out the article linked in the first comment below and stay tuned for the full report on Organizational Debt and The Change Management Imperative, coming soon to the LNS Research library.