As more and more businesses are beginning to accept cryptocurrencies as a form of payment, it's important to understand the benefits of implementing recurring crypto payments for Software as a Service (SaaS) companies. Recurring crypto payments can offer a number of advantages over one-time crypto payments, including decreased Customer Acquisition Cost (CAC), decreased Churn rate, increased User Experience and Retention rate, increased Lifetime Value (LTV), and predictable Revenue.
Customer Acquisition Cost (CAC) is a metric that measures the cost of acquiring a new customer. For SaaS companies, CAC can be a significant expense, as it includes the costs of marketing, sales, and customer service. By implementing recurring crypto payments, SaaS companies can lower their CAC by reducing the need for expensive marketing and sales efforts.
With recurring crypto payments, customers can easily sign up for a subscription and make payments automatically, without the need for additional marketing or sales efforts. This can lead to significant savings for SaaS companies, as they can focus their resources on delivering high-quality products and services, rather than on acquiring new customers.
Decreasing Churn Rate
Churn rate is a metric that measures the percentage of customers who cancel their subscription or stop using a service. High churn rates can be costly for SaaS companies, as they must constantly acquire new customers to replace those who are leaving.
Recurring crypto payments can help to decrease the churn rate by making it easier for customers to continue their subscription. With automatic payments, customers don't have to worry about remembering to make a payment, which can lead to fewer missed payments and less likelihood of cancellation. Additionally, providing a seamless experience for customers to make crypto payments, can increase customer loyalty and retention.
Increasing User Experience and Retention Rate
Recurring crypto payments can also improve the overall user experience for SaaS customers. By making payments automatic, customers don't have to worry about remembering to make a payment or manually entering their payment information. This can lead to a more seamless and convenient experience, which can increase customer satisfaction and retention.
Lifetime Value (LTV) is a metric that measures the total revenue that a customer generates for a business over their lifetime. By increasing retention and decreasing churn, recurring crypto payments can help to increase LTV for SaaS companies.
In addition, by providing a convenient and seamless experience for customers to make crypto payments, companies can increase the likelihood of customer loyalty and retention, which can lead to more revenue over the long-term.
Recurring crypto payments can also provide predictable revenue for SaaS companies. With automatic payments, businesses can better predict and forecast their revenue, which can help with budgeting and planning.
Unisub is a good example of a platform that allows businesses to accept recurring crypto payments, including USDT, USDC, DAI, WBTC, WETH and other ERC20 and Polygon tokens. By using unisub.io, SaaS companies can easily implement recurring crypto payments and start reaping the benefits.
Recurring crypto payments can offer a number of benefits for SaaS companies, including decreased CAC, decreased Churn rate, increased User Experience and Retention rate, increased Lifetime Value, and predictable Revenue.
If you are looking to integrate crypto subscriptions for your business, increase the usage of your token, open access for crypto users, or are just curious how it works, book the demo!
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