REISift is a CRM for businesses and investors in the real estate industry
It's a SaaS tool with plenty of customization options that lets users maximize their marketing and sales pipeline.
As a result, REISift has been growing steadily and the number of active accounts keeps rising month over month.
REISift's pricing is similar to that of many SaaS companies. They have monthly subscriptions that start at $49 and go all the way to $299 / month for their product.
1. The Challenge: Growth made Retention crucial
REISift has a large volume of users that pay relatively low subscription prices. As a result, it needed to implement a scalable cancellation process that:
- Allowed users to self-cancel
- Optimized user retention with targeted offers
- Provided churn analytics
Their previous cancellation process required a lot of manual work by the Customer Success team and provided little insight into the cancellation reasons and insights.
2. The Solution: Implementing a Cancellation Flow with Raaft
The REISift team implemented Raaft within 2 weeks and quickly started seeing the results.
They reduced the reactive workload of Customer Success - allowing the team to focus on value-adding activities. They also started saving users at the moment of cancellation and finally had access to reliable to churn data.
"With Raaft, our Customer Success team was able to instantly make changes to our cancellation process, without relying on engineers. We can analyse the results and learn from our churned customers."
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3. The Results: Over $60k Saved in 2023
The team then started working on optimizing retention. And achieved some amazing results.
More than 90% of the users who cancel with the churn reason "Don't Use It Enough" accept the offer to pause the subscription. And while some of those do end up cancelling, a lot of them don't.
It also gives the team plenty of time to reach out to those at-risk users and educate them on using the tool.
Another important piece of the puzzle that REISift got out of working with Raaft was the option to review detailed feedback left by churned users.
REISift will keep improving its cancellation flows to maximize retention and provide the best possible customer experience. As the business grows, retention becomes more and more important in the business operations.
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