Compliance Team
Angels Den

Dear User,

You may have heard about the new General Data Protection Regulation (“GDPR”), that comes into effect May 25, 2018.

We would like to ensure you that your personal data is safe with us. Please read the details regarding the processing of your personal data and if you agree with the processing as described below, please click the ‘I agree’ button.

Please be informed that you can withdraw this consent at any time.

1) What data are we talking about?

We are disclosing details regarding the processing of personal data that is collected within our calls and in connection with your use of Angels Den’s platform, Websites and other functionalities of Angels Den, including those saved in cookies files.

2) Who will be the controller of your data?

Angels Den Funding Limited (hereinafter referred to as AD) will be the controller of your data (Angels Den means all entities from the Angels Den capital group, which includes Angels Den Funding Limited with its registered office in London and all entities related to it and dependent on it) and only our Trusted Partners.

3) Why do we want to process your data?

We process this data for the purposes described in our Privacy Policy, including:
- compliance with any legal requirements and obligations,
- ensuring that content from our Website is presented in the most effective manner for you,
- marketing purposes,
- providing you with our services (including the completion and support of immediate activity required to provide you with information and deliver products and/or services that you request and to deliver any contracts entered into with you), or
- as otherwise explained in this privacy policy or by any communication by us.
Where you have explicitly consented to be contacted for such purposes, we use your personal data to provide information on our new and existing products and services.

4) To whom can we transfer data?

In accordance with applicable law, we may transfer your data to entities processing it at our request, e.g. marketing agencies, subcontractors of our services and entities authorized to obtain data under applicable law, e.g. courts or law enforcement agencies - of course only if they submit a request based on an applicable legal basis. Furthermore, we will transfer your data to Trusted Partners outside the European Union – to the USA – under the EU-U.S. Privacy Shield Framework.

5) What are your rights to your data?

You have the right to request access to, correct, delete your personal data. You can also withdraw consent to processing of personal data, raise objections and use other rights granted under GDPR (i.e. right to data portability).

6) Use of cookies

We use cookies to give you the best experience on our Website. This means that we have placed cookies on your device. If you continue without changing your cookie settings, we assume that you consent to our use of cookies on this device. You can change your cookie settings at any time but if you do, you may lose some functionality on our Website. More information can be found in our Privacy Policy.

In connection with the above, I agree to the processing of my personal data by Angels Den and its Trusted Partners. I confirm that I understand that my personal data is being collected as part of my phone calls, use of AD’s online platform, Websites, and other functionalities of AD, including the data saved in cookie files. I also consent to profiling in order to allow Angels Den and its Trusted Partners the provision of better services (including for analytical purposes). Your data will only be processed on a valid lawful basis in accordance with applicable data protection laws. The processing of your personal data for marketing purposes (including statistical analysis) by AD is based on the firm's legitimate interest. The processing for marketing purposes by our Trusted Partners is only possible if we receive your freely given consent. We will also process your personal data to fulfil our contractual obligations to you as contained in AD’s Terms and Conditions of the use of our Website and services. Therefore, this data will be processed on another lawful basis – ‘contract’. We will also process your data to comply with our legal obligations for our Service (such as anti money laundering and know your customer requirements), which is also a valid lawful basis in accordance with applicable data protection laws.

Expressing this consent is voluntary and you can withdraw at any time.

If you have any doubts or questions about the use of your personal data, please do not hesitate to contact me via email. I’m happy to assist.

Compliance Team
Angels Den
cl@angelsden.com

I Agree
Not Now

How To Grow Your SaaS Business and Ease the Cashflow

Grow Your SaaS Business: 5 Ways to Increase Your Monthly Recurring Revenue

 

According to research, the software as a service (SaaS) market is worth $170 billion globally. Specialists also predict that the demand will grow due to the increased adoption of cloud applications. If you are a SaaS business owner or manager, you should leverage the high demand and use it to grow your business.

Prioritize customer needs and ensure your product meets their demands. Further, use effective ways to avoid churn and source capital to scale.

Here, we provide the ultimate guide to increasing monthly recurring revenue (MRR). We’ll also discuss how a solution like Angels Den Finance can help you leverage MRR.


1. Boost Confidence in Your Product


One ideal way to increase your monthly recurring revenue is by cultivating customers’ confidence. When your target market trusts what you offer, they will likely be loyal to your brand. 

Boost your customers’ confidence by addressing concerns regarding your product. Check reviews about your software on downloading platforms to determine the aspects clients would like you to change. You can also get this information on forums that review solutions or on your Google Business page.

 Other ways to boost your customers’ confidence and grow your business with MRR are:

-Respond to client reviews

-Share customers’ testimonials on your website and social media

-Offer reliable customer service

 -Improve the user experience

When boosting confidence in your product, you should also focus on your target market. Offer free demos to increase awareness about your product and its benefits.   

This method will educate your customers and help them discover how they can solve various issues with your solution. Further, it presents an opportunity to test the software and clarify misinformation about its features.

Offering free demos or consultations will help you convert more leads into customers. Besides, you can increase MRR without incurring losses associated with free trials.


2. Automate Customer Retention


Client retention plays a significant role in increasing your monthly recurring revenue. Still, this process can be time-consuming, especially if you have many clients. Automate some retention processes to lower churn and increase your MRR.

For example, send post-sale emails to appreciate your customers and guide them on using the software. Such will make them feel valued, which can encourage loyalty.

If you run a SaaS business that sells to other enterprises, you likely deal with clients with a heavy workload. Automating some processes will help your customers streamline workflow. Besides, it encourages engagement with your tool, increasing your monthly turnover.


3. Encourage Referrals


 Another way to increase your monthly recurring revenue is by boosting the number of referrals. You may obtain these from product reviews or references by your current clients.

Develop a referral program to encourage your clients to refer you to others. Since your customers understand your product and its benefits, they can easily encourage others to subscribe to your packages.

One strategy you can use to encourage referrals is by offering discounts. Besides, reward customers a percentage of your revenue when a new client subscribes. Another way to reward clients that refer others is by giving them a one-month free subscription for every referral.


Implementing a referral program will encourage customers to help you generate leads. In the long run, you will increase MRR at a lower marketing cost. A referral program also allows you to build long-lasting relationships with your customers and avoid MRR fluctuation.


4. Upsell Your Product


Upselling your product is an effective way to boost MRR in your SaaS business. This process involves promoting additional features included in a premium package. It also includes influencing clients to upgrade to the next plan for added benefits.

Develop upselling strategies by studying your clients and assessing how they could benefit from additional features. For example, you can determine how their needs changed after scaling. After that, use various strategies like email marketing and newsletters to encourage them to opt for a better package.

Content marketing is another way to upsell your product and increase monthly recurring revenue. Determine the issues your clients face when using a basic software package and use blogs to highlight the benefits of premium plans. Besides, include a call to action in the content to generate more leads and encourage customers to upgrade.

Upselling additional features to clients has many benefits. First, it allows you to generate more MRR from existing clients. Besides, you target customers willing to pay a higher amount for extra features.



5. Generate More Leads


Using the proper channels to get more business leads will help you increase MRR over an extended period. Determine the platforms your target customers mainly use and use them to increase product awareness. Besides, use paid ads and social media marketing to boost traffic to your sites.

Once you generate leads, use demographics to determine the people you should target. For example, use companies’ revenues and market outlook to assess if they will likely need your services in the long run. 

If your product targets individual users, use aspects like age and income to focus on loyal customers. Such strategies will help you avoid wasting time and effort on leads that will churn after a short period. It also allows you to tailor your product and boost monthly recurring revenue.



Grow Your SaaS Business with Angels Den Finance


Increasing your recurring revenue will help you grow your SaaS brand. Still, waiting for customers to renew plans can make it tough to get lump sum funds and sponsor some projects.

At Angels Den Finance, we provide a platform where you can trade your unpaid invoices for cash. With our solution, you can grow on your terms and leverage recurring revenue. 


Contact us now for a demo.


Reach out to our Entrepreneur Management Team at: em@angelsden.com

Or to Daniella from the Finance Team at : dani@angelsdenfinance.com


-Sarah Wynam (Author)



Angels Den Finance is in partnership with Crowdz, a leading Invoice Financing Company in the US.