Your SaaS business is thriving now, but can it survive increased success?
FastSpring, a full-stack digital commerce provider, can offer you the tools you need to future-proof your business in one easy-to-use package. Here are just a few of the features that will help your SaaS live up to its potential without skipping a beat.
When your business starts to boom, the last thing you need is trouble with your storefront. After all, your storefront is where site visitors actually make the purchase that turns them into customers. If your storefront isn't well-designed to reduce friction, it's likely that you'll lose your customers after they put the product in their cart.
This phenomenon, known as cart abandonment, occurs in over half of US online shoppers— a staggering 58% will simply click away from your site before they complete the transaction. 27% abandon their cart because the checkout process is too long or overly complicated.
FastSpring's full-service digital storefront will not only localize to your user's currency, enabling you to take your SaaS to a global audience, but it will simplify and streamline the buying process.
If your prospect should abandon the cart mid-purchase, you can arrange for automatic reminders to be sent to the customer. A study found that 69% of customers who received email reminders stated that they were helpful or they influenced their purchasing decision in some way— failure to capitalize on this audience is the equivalent of tossing money out the window.
Interested in cross-selling and up-selling to customers, but unsure how to find the time or the manpower to make it happen? FastSpring's digital storefront will make it easier than ever to incorporate methods to grow your business.
Superior Subscription Management
SaaS businesses are built for subscription billing, and FastSpring provides the backbone to support this feature. In your business's early days, annual subscriptions, in particular, can be a lifesaver— it's considerably easier to forecast growth and pay your start-up expenses when you have a guaranteed income.
Not only is subscription billing a steady income stream, but it's also a great way to retain customers. Most SaaS businesses who utilize subscription billing only lose their subscription customers when the customers are truly displeased with the service— otherwise, it's simply more convenient to let the autopay roll on rather than take the time to contact customer service to cancel.
Bonus? Customers prefer subscription billing, too. It's more convenient than re-upping when the product's paid period expires, and it ensures that there's no downtime because someone forgot to pay the invoice to renew the service.
FastSpring's ability to manage and support multiple payment methods, an array of currencies, and a variety of languages will give your business the ability to grow more aggressively than ever before.
Back Office Support
One of the biggest issues that SaaS businesses face as they scale up is bringing their back office up to speed. As business booms, so do chargebacks, customer service requests, and increasingly complicated tax issues. Your team is occupied with important matters, and nobody's got time to handle the ever-growing pile of back office problems. Failure to address these important matters is a quick way to lose customers in droves.
Enter FastSpring's full-service back office assistance. A full-stack digital commerce provider will eliminate the time-consuming and costly chargeback fees, saving you $15-$40 per incident and countless hours.
Additionally, FastSpring offers businesses a Dedicated Account Manager to aid in initial setup as well as any issues that should come up going forward. Within 12 hours or less, 7 days a week, you'll get the answers you need in a timely and efficient manner. Your customers will have access to a trained support staff, fully equipped to assist with software product and software delivery issues.
Is your growth global? FastSpring's tax compliance assistance will help you work through the European Union's Value-Added Tax (VAT) as well as tax collection, compliance and payment on your behalf of state taxes, regardless of complexity.