SaaS companies spend up to seven times more on acquiring new customers than other businesses, so loyalty is critical to long-term revenue streams and profitability. Forward-looking SaaS enterprises focus on customer engagement. One way is by integrating Communications Platform as a Service (CPaaS) technology into their existing software applications and workflows. This enhances the value they provide to customers while also providing an excellent user experience.
According to Gartner, by 2025 almost all businesses will be using API-enabled CPaaS solutions as an essential IT skill set to improve their digital competitiveness. CPaaS has been proven to give businesses a competitive edge by unlocking new communications features and tools without replacing those companies’ IT stacks.
CPaaS Solutions for a Better Bottom Line
For SaaS companies, CPaaS allows them to use customers’ preferred communications styles for service requests, follow-ups, delivery notifications, two-factor authentication codes and more. By leveraging CPaaS functionality, SaaS companies reduce resource and infrastructure costs, respond better and faster to changing market demands, and scale faster. The results are often evident in their bottom line: those businesses have extraordinary revenue-generating potential and the highest average lifetime value (LTV).
It takes time for businesses to establish genuine customer interactions; it results from consistent and clear communications over time. Customers today want to be able to have a substantive discussion with your brand in a variety of ways, including phone calls and SMS.
For SaaS businesses, the fact that customers have questions, need immediate assistance and want instant communications makes customer support a challenge. Having a variety of ways to reach out to potential and existing clients improves customer acquisition and retention.
The following is a rundown of ways a CPaaS platform may help you bring your team and customers together to boost retention and increase revenue.
CPaaS Enables Omnichannel Communications
Omnichannel communications is an integral part of customer engagement. When you can talk with your clients on their preferred mediums, they feel understood and are more willing to engage with your business.
Some customers enjoy telephone conversations, while others like to get help via chatbots and SMS. Older customers often desire to talk with a customer care representative while Gen Z and Millennials prefer the chat option. CPaaS allows organizations to have reliable omnichannel communications to make and receive calls, send and receive text messages, and provide stellar customer care. Instead of forcing a customer to leave your app or website to get help, a CPaaS solution enables companies to integrate multiple communications methods within their existing app or website. This results in a better customer service and purchasing experience.
CPaaS Enables Rich, Real-time, Personal Interactions
Today’s customers expect a personalized experience. They desire easy access to real-time support or a way to make requests from the convenience of their mobile phones. Some individuals even expect businesses to adapt to them rather than vice versa, which means companies must embrace proactive engagement.
CPaaS allows organizations to customize how they communicate with customers by offering multi-channel services via an API that optimize interactions on existing applications and software. When you have a CPaaS solution in place, you can easily connect with your customers the way they want. The result is a better customer journey for everyone involved.
CPaaS Enables Switching Channels Mid-Stream
The ability to switch communications channels mid-stream offers distinct advantages for organizations and customers. When a service ticket is opened, the customer now has the option to change their preferred communications channel as they work through an issue or request.
This feature provides SaaS companies with powerful communications capabilities that allow them to be more agile and adaptable, improving time-to-market by reducing roadblocks. For example, if the customer your representative talking to wants something sent via text, your representative can send it via SMS/MMS through your existing app or software.
CPaaS Improves Data-Driven Decision Making
A manager who notices that most customers opt for an SMS service may want to increase the number of texts sent out for automation purposes. It’s more effective than other campaign methods because customers are more likely to respond quicker to an offer if they receive it via text message. More conversions can occur when your organization is better equipped to serve customers.
CPaaS Results in Reduced Costs for Customer Engagement
Businesses often spend tens of thousands or even hundreds of thousands of dollars on marketing, especially when trying to entice new clients to use their services. The best way to reduce costs is by engaging existing customers instead of repeatedly targeting new ones; CPaaS can help you do that by providing communications via your software to quickly reach customers.
CPaaS Ensures Compliance with Communications Laws
Customer data must be protected at all times, which means it’s crucial to have a CPaaS provider that understands the laws that govern telecommunications. To avoid non-compliance and expensive fines, it’s critical to follow the appropriate protocols like STIR/SHAKEN.
CPaaS Can Be Used to Integrate Third Party Applications
In the past, companies had very few communications options for enhancing customer experiences. Custom telecommunications development was time-consuming and costly, which is why many organizations turned to third-party applications with an API (application programming interface). CPaaS tools allow companies to add functionality or create new features by integrating a voice API and SMS/MMS API within their existing software in minutes.
Signalmash CPaaS Solutions
Signalmash CPaaS solutions are designed for SaaS providers who want to incorporate communications channels without having to develop and maintain a communications infrastructure, which gets expensive. We help SaaS enterprises integrate communications features such as voice and SMS into their existing apps, increasing engagement among customers while also providing more personalized communications experiences.
Our Signalmash CPaaS platform is easy to use and highly versatile, making it the CPaaS of choice for users with little technical knowledge. We are like Twilio without all the fluff. Our solutions cover an array of industries, including SaaS, healthcare, banking, insurance, and airlines.
Get in touch with us now to talk about how our CPaaS solutions might help you better serve your customers.
Ask us how you can cut your Twilio or CPaaS bill up to 50%!!