How eSignature Tools are Leading SaaS Businesses to Greater Acquisition, more Productivity, More Revenue?
It is no secret that a poor user experience (UX/UI Design), can be irritating to customers. In the highly competitive SaaS market, speed and ease can make the difference between a profitable and long-lasting customer relationship.
This is more so than ever, since COVID-19 has helped organizations adopt more SaaS products because they are easy to use and implement.
What has separated SaaS providers who have seized these “next normal opportunities” from those that have stagnated is the quality of their users’ experiences. What can businesses do to increase their productivity?
SaaS platforms still find document signing difficult, whether it is digital or physical. This can make for a less smooth experience. This is costing businesses time and money.
With so many opportunities, SaaS companies have shifted their focus to capturing a larger share of the SaaS market than their competitors. SaaS businesses can make any changes quickly and gain an advantage over their competitors.
Although it may not be immediately obvious, eSignature software technology can make a significant impact on SaaS growth. It’s quick and easy to implement, and requires minimal effort.
Here are how eSignature tools can help SaaS companies can use to increase their acquisition, productivity, reduce churn and ultimately generate more revenue.
Improve sales conversions
Without new customers, you can’t grow. It is important to understand how a customer signs up for your product. They’ll give up if they find the process too difficult or lengthy. It’s that simple.
Consider how frustrating the contract-signing process can become for customers. It’s not ideal for customers to be sent from your website to an eSignature provider or tool by third parties to sign a contract. They have to create an account, switch windows, and puzzle over a new interface. All the while, they wonder why it doesn’t look like you brand. Even worse is the mobile version, which makes switching tabs and windows a nightmare.
Let’s not forget about the pen and paper method!
Potential customers might become frustrated or distracted by the many steps involved in the process. It would be so much easier if potential customers could sign documents directly from your website.
APIs are made to do just that. Armando Torrealba, Product Design Director at Xero says it best:
“APIs allow customers to have a natural and seamless experience because all data transactions are happening in the background seamlessly.”
eSignature APIs can be used to streamline the process and remove friction from signing paper or electronic documents.
Embedded digital signature service allows you to control the entire signing process within your product or website. Your users are fully locked in to your experience. There are no new tabs or third-party tools that can frustrate or distract them.
Furthermore, sophisticated eSignature API features offer white-labelling. This allows users to stay in your personalized sign-up experience and the only brand they see is yours.
Sign-ups can increase dramatically when you integrate a single-branded sign-up experience into your product’s workflow. We’ve seen it improve deal closings by up to 17%
You need to retain customers, not just convert them to your product.
When 70% of customers abandon a purchase due to poor user experience, it is clear that customers will not hesitate to look for a new provider.Armando Torrealba, Xero’s Product Designer Director, puts churn to one simple thing.
According to his experience, “customers who don’t feel heard are the most common cause of churn. Customers don’t like the way your company is working on things they don’t need. Listening to your customers is the best way to keep them coming back”.
Any way you can make incremental improvements to customers’ experiences that show you care is a step towards faster SaaS growth and lower churn.
eSignature API features, such as embedded signing, can be used to improve customer acquisition. This will make it easy for your users to use your digital product without having to go through lengthy document-signing procedures. It will also simplify their experience by making it intuitive and fast.
Scale your Teams’ Productivity
It’s important to understand the nuanced differences between scale and growth.
SaaS growth can be described as a simple equation: increase revenue by adding more resources (capital, staff) but scale is focused on increasing revenue with minimal investment. Scale is about getting more from what you already own.
SaaS businesses should seize every opportunity to scale business functions, and not just grow them, whether it’s through new software or integrations.
eSignature tools can be used to scale up your business. Why? Because they allow your teams to do more with less time.eSignature API features such as templating, for example, allow your teams to send personalized documents via an API with the click of a mouse.
Imagine your team sends out hundreds of NDAs each day. Instead of formatting and customizing NDAs for each request, your team can save the template once, then use an API to send out a new version with one click.
This allows your team to spend less time on admin, which can lead to lower productivity and allow them to concentrate on more important tasks.
Learn More About What eSignatures can Offer SaaS Companies
It doesn’t matter if you are building a SaaS sales strategy for B2B or SaaS start up sales strategy. The difference between great success and just getting by is in the little things that make customers and employees’ lives easier. These include a simple buying process, intuitive user experience and the elimination of unnecessary admin.
Although there are many powerful tools that can make a SaaS company grow, it is the ones that people don’t notice that matter most. These growth- and scale-enabling tools include eSignature APIs. They sit behind the process and do all the heavy lifting.