Every B2B SaaS entrepreneur knows the weight Monthly Recurring Revenue (MRR) holds. At its core, MRR is the predictable revenue your business can expect to earn from its subscribers each month.
But it’s much more than a mere statistic.
MRR is the heartbeat of any B2B SaaS venture, reflecting its traction, growth, and resilience in the face of competition.
The goal isn’t just about acquiring new customers. It’s about nurturing a steady, increasing MRR—a testament to enduring success.
So, as we journey through this guide, we won’t be just tallying numbers. We’ll be unlocking strategies to deepen our bond with the market.
Ready to supercharge your MRR? Let’s do it.
Deep Dive into Product Value
Your B2B SaaS tool isn’t just software—it’s a promise. A commitment to alleviate a pain point, streamline a process, or ignite growth for another business. So, how do we make sure it consistently delivers? Here’s a surefire gameplan:
a. Enhance Core Features
The essence of your product lies in its core features—the primary reasons businesses use your tools. It’s not just about adding new features, but about refining what you already offer.
Make sure your features are intuitive, powerful, and always ahead of the curve. By doing so, you ensure that users see consistent value in your offering.
b. Value User Feedback
Every piece of feedback, whether it’s praise or criticism, is an avenue for growth. Remember, your users utilize your software daily—they know where it shines and where it could shine brighter.
Here’s how to get valuable customer feedback:
Image via Canny
By actively listening to your customers and implementing their suggestions, you’re showing that their voice matters. This not only refines your product but also solidifies a sense of community and trust.
c. Use Analytics to Understand Behavior
Analytics provide a transparent window into how users interact with your software.
Are there features that are mostly ignored? Areas where users consistently face challenges? Or tools that they absolutely love? By harnessing this data, you can prioritize updates, anticipate user needs, and ensure that your software remains a must-have for them.
Evolve Pricing Strategy and Flexibility
In B2B SaaS, your pricing strategy isn’t just a reflection of the product’s value—it’s a tool to drive growth, customer retention, and product adoption. How you price can make all the difference.
Let’s explore some of my favorite B2B SaaS pricing hacks:
a. Understand Your Customer’s Willingness to Pay
Conduct regular surveys, and engage in one-on-one discussions to gauge what your customers believe is fair value for the benefits they receive. This will not only validate your pricing but also highlight any adjustments needed to match the market’s perception of value.
b. Offer Tiered Pricing
One size rarely fits all. By providing tiered pricing structures, you cater to a broader audience—from startups looking for basic functionalities to enterprise clients seeking advanced features. Each tier should clearly communicate its value, making it easier for prospects to select the one that best aligns with their needs.
Here’s an excellent pricing example:
Image via Crazy Egg
c. Allow Room for Customization
While structured pricing tiers serve a majority, it’s essential to acknowledge the unique needs of some users. Letting customers customize their plans by adding or subtracting specific features allows them to tailor the software according to their specific requirements.
If you’re unfamiliar with how flexible subscription models work in the SaaS space, the Younium SaaS subscription billing guide provides an insightful deep dive into the mechanics and benefits of such an approach.
d. Regularly Review and Adjust
The SaaS landscape is ever-evolving. Regularly assess your pricing strategy in light of market trends, competitors’ moves, and feedback from your customers. An outdated pricing model can deter prospects or even cause existing users to jump ship.
Expand Your Target Market
B2B SaaS platforms often start with a niche target audience in mind, but as the product matures, there’s an immense opportunity to tap into wider markets.
Here’s how you can broaden your horizons:
a. Identify Adjacent Industries
Analyze industries that closely relate to your current niche. These sectors often have overlapping needs and could benefit from your SaaS solutions with slight modifications or marketing tweaks.
b. Leverage Customer Insights
Your current users might have connections in industries you haven’t tapped into yet. Regular feedback sessions or surveys could reveal these unexplored avenues.
c. Localize and Globalize
If your software is predominantly used in one geographic region, consider expanding to new territories. Localize your platform (language, currency, etc.) to cater to global audiences.
Here’s how to localize your SaaS tool website:
Image via Smartcat
d. Diversify Marketing Campaigns
Tailor your marketing strategies to speak to different industries or demographics. If you already utilize content marketing, for example, create resources that address the pain points of a broader, lookalike audience. It’s also important to ensure your marketing and sales teams work in cohesion for best results. That’s where a sales strategy comes in handy. Here’s a handy post by Attrock that explains how you can create one.
e. Collaborate and Partner
Establish partnerships with complementary SaaS providers or industry influencers. Co-marketing ventures or bundle deals can be an effective way to introduce your product to a new set of users.
In Conclusion
MRR isn’t just a metric—it’s the lifeblood that dictates growth and longevity.
By enhancing product features, optimizing pricing, and championing customer retention, you build not just a product, but a thriving community around it.
Dive deep, iterate, and always keep your users at the heart of your strategy. After all, lasting MRR growth comes from strong customer relationships and constant improvement.
Author Bio – Reena Aggarwal
Reena is Director of Operations and Sales at Attrock, a result-driven digital marketing company. With 10+ years of sales and operations experience in the field of e-commerce and digital marketing, she is quite an industry expert. She is a people person and considers the human resources as the most valuable asset of a company. In her free time, you would find her spending quality time with her brilliant, almost teenage daughter and watching her grow in this digital, fast-paced era.
Social connects: LinkedIn, Twitter
