About Fresh Technology
Established in 2003 to build back-office and kitchen production systems, Fresh Technology, Inc. has deep knowledge in restaurant operations and technology. Their proprietary technology enables restaurants to process and control costs. They help manage over $550 million in annual food sales and serve over 13 million guests each year.
With a level of precision, SaaSWorks was able to identify where there were opportunities to mitigate churn through their tech-enabled service. This made decisions concerning how to address the issue much more clear.
To get started, SaaSWorks connected Fresh Technology’s data warehouse, billings, customer support and product usage systems to access their customer data. Once the system data was gathered into a secure environment, it was enriched to address any missing elements. With a fully usable dataset, SaaSWorks was then able to build out models to measure and monitor MRR and other SaaS KPIs by industry and business segment.
SaaSWorks then met with the Fresh Technology team to provide a readout on their overall business health, net revenue retention and churn. Together, they started to surface the highest-value outreach opportunities to mitigate churn. They then made it easy for the Fresh Technology team to act on those findings with Nudges — fully-researched, contextualized account dossiers that include usage data, engagement data, contact-specific analysis and an outreach draft email.
“The first time SaaSWorks delivered the initial report it was like the curtain had been drawn. We could clearly see what was happening,”
David Corts, COO | Fresh Technology
David continues, “We knew there were opportunities to improve retention, but all we had to go on was speculation about what would work best. With a level of precision, SaaSWorks was able to pinpoint where the problem was and deploy tactics and playbooks to attack that problem and see results.”
Together, SaaSWorks and Fresh Technologies identified that acquisition was extremely strong, but sometimes the acquisition energy didn't translate into successful product implementations. The team at Fresh decided to apply the framework behind nudges to a particular cohort of users who were struggling with onboarding. The SaaSWorks and Fresh Technology teams tested the correct interval and the correct channel to deliver communication in order to produce the intended outcome.
By surfacing specific, deep customer research via its nudges solution, the SaaSWorks team was able to help Fresh identify that the first 24 hours in their customer journey was a critical period to improve onboarding. Then, the team jointly developed a multi-channel approach to improve success rates during that key first day of a customer's lifecycle. This data-driven, research-backed understanding of the Fresh customer journey has led to dramatically improved instrumentation on success metrics and a renewed focus on customer outcomes to move retention in the right direction.
The engagement between SaaSWorks and Fresh Technologies, which started off focused on solving a particular problem, is now becoming multifaceted.
David says, “Our exposure to the SaaSWorks team — with their background, expertise and the service they provide — does more than pinpoint the problem we had with a specific product; it changes our team’s mindset about what we’re trying to accomplish and how we’re trying to do it. People take the learning from these calls and start to apply them to other parts of the business.”
Fresh Technology has now better positioned themselves as they transition from product-market fit into the growth stage.
“Working with SaaSWorks is like grabbing some future organization maturity and dragging into the present,” says Michael. “Our engagement with their team has brought us a level of sophistication that is two orders of magnitude ahead of where we would have been otherwise.”
SaaSWorks is even having an impact at the board level.
“There’s a different obligation to the board to report metrics and provide updates on initiatives,” David says. “I pull up SaaSWorks decks in board meetings all the time. We have to report churn on a product level to the board now, and to be able to have the confidence to understand the metrics and then to have good answers about the efforts we're taking to improve these problems is huge.”
On top of all of that, Michael adds, “The people at SaaSWorks are all very kind humans and I look forward to talking to them each week.”
With the momentum that Fresh Technology has built, they are now looking to apply SaaSWorks tech-enabled solutions across more areas of their business.