If you are running a SAAS company you are part of the Subscription economy. One killer datapoint we often ignore is ‘Churn’. Normally we are so focused on the customer acquisition part – with marketing initiatives and events and advertising and campaigns we overlook at what rate we are loosing customers. Churn impact both the key numbers – CAC and LTV. The motivation of all SAAS companies is to reduce the first and increase the 2nd. Churn puts a spanner of sorts in that (fly)wheel. So we need to pay attention on day one.
Andy Ruskin likes to cite two presentations – one, the Zuora deck and two, the Elon Musk presentation introducing the Tesla batteries as his example of great business stories told by companies. There is no denying that story telling or a compelling narrative with its build up , a la Freytag’s Pyramid [- Exposition – (The Set Up ) Rising Action ( complications, development ) Climax ( peak tension and turning point ) Falling action ( Resolutions, revelations) and finally denouement (final resolution )] needs to be designed. Or perhaps The Hero’s Journey. What ever the structure, there is no denying of the fact that your organisations story narrative is the key to your ability to communicate and execute on your vision. Andy Ruskin’s presentation The 5 elements of a Great Strategic Narrative has s Prezi version by Igor Lacerdino.