If you have a list of users that aren’t paying users, chances are you are sitting on an untapped source of income that could add between $3k-$20k to your MRR (depending on your average customer value).
There are three areas where this hack works splendidly:
- Free Trial users that signed up for a free trial, went through you current funnel but STILL didn’t convert to a paid user
- Freemium users that are actively using your SaaS but haven’t converted to paid
- Past users that WERE paid but aren’t any more
No matter what type of SaaS you run, chances are you have at least one of these lists...
You might want to pop into your database and check (just for kicks). How many do you have?
When I see SaaS that have lists like this, I get all giddy inside...
Because, like a vein of gold hidden inside a rock, that list is just WAITING to be tapped into.
See, your user list is like a garden.
And just like an apple tree in that garden, not every apple ripens at the same time.
A good gardener won’t just come out and pick apples once or twice a year, they will come out as many times as necessary to pick the fruit when it's perfect.
Maybe as often as daily (depending on how many trees there are).
It doesn’t make a whole lot of sense to wait until the apples are old and rotting to go out and pick them.
A good gardener knows that it takes time, effort and patience to get all the fruit.
In your list of unpaid users, there are some that are ripe, ready to turn into paid users. There are others that aren’t quite ripe yet, but will be in a few days, weeks, months...
In fact, there are others that may take YEARS to be ready...
The secret is to be there - to be top of mind - so when they are fully ripe and ready, you can lead them into becoming a paid user.
Most SaaS have a 15 day, 30 day or even 60 day follow up process when a new user signs up, but after that...
And from my experience, that’s a big mistake.
Keeping in contact often (through email, in app messaging, etc.) is one of the quickest, easiest (not to mention CHEAPEST) ways of adding a significant amount to your MRR.
The SaaS that are constantly nurturing their customer garden will see a significant increase in MRR, conversion rates and see a decrease in churn (even negative churn).
It doesn’t matter if you haven’t emailed them in months, or if you have NO idea what to start sending them...