With SaaS products, a big part of the focus tends to be on startups. Since these are the companies trying to disrupt various industries, they tend to get a lot of attention and headlines. However, enterprise-level SaaS products are also changing the game – it just has more hoops to go through than a lean startup does.
In this episode of the SaaS CX Show, I’m talking with Wolf Ruzicka, chairman of Eastbanc Tech. Wolf and his team have worked with some major players in the tech world, including Microsoft, Facebook, Nasdaq, and others. Eastbanc Tech is unique because it blends the flexibility and adaptability of a startup, but the company is developing software solutions for international corporations.
So, we talked a bit about what makes Eastbanc successful and what they’re doing to change the world of SaaS products as a whole, including how to reduce customer churn.
Learning From Your Mistakes
Because startup companies operate on a shoestring budget and don’t have a massive following, they’re allowed to make mistakes. Growing pains are just a natural part of the product development pipeline, and patches and fixes are par for the course. With enterprise-level software, however, the trick is to learn from other people’s mistakes if you can.
Wolf reminds me of an old saying, “stupid people never learn from their mistakes, normal people do learn from their mistakes, and smart people learn from other’s mistakes.” While it’s not always possible, that’s the goal at Eastbanc. Take the knowledge and failures from both other companies and your own experiences to streamline the development and innovation processes. That way, a customer churn analysis won’t be like reading an epitaph.
Using KPIs as Motivation
One of the challenges that Wolf and his team encounter when incubating new software products is that it’s too easy to get complacent. Because there aren’t necessarily deadlines or expectations, there is no pressure for the product to deliver. So, instead of letting a project fall by the wayside, his team will develop KPIs and let the data hold them accountable.
In some cases, this strategy can be somewhat literal. If a big client like Comcast is looking for SaaS products to roll out, then there is some level of pressure to get it done by a specific deadline. No matter what, though, Eastbanc always operates under that level of scrutiny. Overall, as long as Wolf and his team hold themselves to the highest standard, they’ll continue to produce the highest quality products.
Layering the Customer Experience
As technology develops, it builds upon the technology of yesteryear. So it is with the customer experience. For a while, cloud-first approaches were the go-to option for companies trying to make it easier for clients and businesses. Then, a mobile-first approach to ensure that everyone could have maximum productivity on a smartphone. Next came a design-first approach, which centered around incorporating useful design elements to make the product more user-friendly.
In each case, the new focus didn’t replace the old one – it became part of it. Cloud technology is still a significant factor in today’s marketplace, as globalization and working from home become the new norm. Mobile technology is only becoming more ubiquitous as users become more comfortable using their phones for more types of transactions.
So, for a company to build enterprise-level software, they have to recognize how each focus blends into the next. Rather than picking one element (i.e., the cloud), the customer experience has to be consistent across the board – it’s a good customer retention strategy. Next on everyone’s radar is artificial intelligence, which will only add yet another layer.
We talk more about Eastbanc and the future of SaaS, so check out the episode here. If you want to get in touch with Wolf directly, you can find him on LinkedIn at www.linkedin.com/in/wolfruzicka/, or you can find out more about his company at www.eastbanctech.com.