Growing Revenue with Automated Account Management
“We needed a system that gave us a comprehensive view of our customers. Fortune’s Path exceeded our expectations.”
— Holly Miller, CEO, Collette Health
SaaS Hates Churn
Customer behavior shows us they’re going to leave before they actually leave. That's why Collette Health asked Fortune’s Path to help them build a system that analyzes customer data for risks and opportunities.
The Problem
Collette Health, a healthcare SaaS company focused on virtual nursing and observation, asked Fortune’s Path to create an automated account management system to help them retain and grow revenue. “Keeping and growing existing accounts is paramount in SaaS, obviously,” says Holly Miller, CEO of Collette. “We needed a comprehensive view of customers to do this better. We’d tried ourselves, but we weren’t able to make the process as good as it needed to be.”
The Solution
Prior to working with Fortune’s Path, Collette didn’t have a single list of all its customers. Accounting, product, billing, and support defined customers differently for different purposes. Rather than forcing a definition of “what is a customer” across all functions, Fortune’s Path mapped customers between systems to create a single list while allowing each function to maintain its current processes. Fortune’s Path built an application that combines data from internal surveys, product, accounting, customer support, and third-party information to create an enriched, comprehensive view of each customer.
Auto-Scoring Customer Health
Fortune’s Path built an algorithm to auto assign a health status to each customer: green (healthy), yellow (caution), or red (at risk). Fortune’s Path then used annual recurring revenue (ARR) and growth potential to segment customers by value and defined a set of account management activities based on segmentation.
Fortune’s Path built the auto-scoring system and defined account management activities by segment. We then worked with Collette’s data team to design automated reporting to show Collette customers the time and labor cost savings achieved by using the Collette system. This new Quarterly Business Revue (QBR) template became foundational in customer conversations. The entire Collette team is delighted with the work.
Talk to Fortune’s Path about how we can help your SaaS business grow revenue from existing accounts.
The Results: Better Conversations, Better opportunities
“Now we can better identify expansion opportunities and have more meaningful conversations with customers,” says CEO Miller. "We can get ahead of renewals and identify at risk accounts. I’m confident we can meet our revenue goals, and I wouldn’t say that without the work of Fortune’s Path.”