SaaSCan Research into COVID-19 Impact on Key SaaS Metrics Revealed at Canada’s SaaS North Conference
Presented for the first time on the virtual stage at SaaS North Now 2020, SaaSCan research reveals that anticipated fallout from COVID-19 on Canadian SaaS company retention & churn metrics was greater than actual fallout, and that four specific actions had the most protective impact.
OTTAWA, Sept 9, 2020 – SaaSCan, an organization dedicated to empowering customer-centric and metrics-savvy Canadian SaaS companies, unveiled findings from its latest research comparing anticipated Canadian SaaS retention & churn metrics in April 2020 (n=48) and actual SaaS retention & churn metrics in August 2020 (n=34), today, at Canada’s flagship SaaS Conference, SaaS North.
In their session ”How COVID-19 is Messing with Metrics”, SaaSCan for Startups Advisory Board Members Allan Wille, co-founder and CEO of Klipfolio, and Pablo Srugo, Principal at Mistral Venture Partners, co-presented the findings with Lauren Thibodeau, Founder and Principal
Consultant at SaaSCan.
Top to bottom: Pablo Srugo, Principal, Mistral Venture Partners, Allan Wille, co-founder and CEO, Klipfolio, and Lauren Thibodeau, Founder and Principal Consultant, SaaSCan.
Highlights of the SaaSCan research findings:
- 60% of Canadian SaaS respondents anticipated Net Revenue Retention (NRR), a key SaaS metric that measures revenue retained and expanded from a constant cohort of customers, would fall, yet only 33 % experienced an actual NRR decline.
- 28% of respondents increased NRR between April and August 2020. All of these companies offered fixed monthly billing to customers as opposed to annual billing or variable pricing, giving clients predictability and peace of mind to cancel on a month’s
notice if needed. - Logo churn declined between April and August 2020 for 15% of respondents, all of whom were in high tech or retail (presumably with ecommerce capabilities), two sectors that experienced tailwinds from the COVID work from home / isolate at home reality.
- Top actions companies took that had the largest positive impact on increasing retention and reducing churn included:
- Pivoting the product roadmap based on value drivers in a post-COVID world
- Reaching out pro-actively to customers with near-term renewals
- Allowing customers to adjust or pause payment temporarily
- Offering complimentary services to ensure clients obtained maximum value
Read the full report here: www.saascan.ca/insights.
About SaaSCan
SaaSCan was created to bring decades of experience in customer-centric growth and SaaS metrics to Canada’s growing SaaS ecosystem.
SaaSCan for Startups in particular was born in the early days of COVID-19 to help Canadian SaaS companies understand COVID’s impact on churn and retention. It has expanded to provide enablement for SaaS startups on SaaS metrics and benchmarks
