Let's talk revenue. It's the main thing that we as founders, entrepreneurs and business operators are chasing – yet, for many businesses, it's misunderstood, poorly defined and confusing. It's kind of ironic, when you think about it – if there's one metric that should be well understood and perfectly defined in any business it should be this one. In our view, being aware and in control of your revenue metrics (these include churn, subscriptions, and more) is a core part of truly understanding your customer base, and being able to take the steps necessary to grow your business in a meaningful way.
This is why we're excited to announce that Weld now integrates with Stripe. With this new integration, we're enabling our customers to combine customer data from their product and SaaS apps with their Stripe subscription data – allowing them to derive key insights and act on this information in a timely manner. Below are four of the most common benefits we see companies get by connecting their data warehouse to Stripe with Weld.
View your customers' financial metrics directly in your CRM or Helpdesk
As mentioned above, getting a true sense of your core financial metrics is essential to understanding your customers. Some commonly used SaaS apps try to calculate it for you, but it's most often approximations and the numbers and events are never truly accurate. One of the most commonly used ways to get a true sense of your customers' financial health is to look up a customer in your Stripe account. The main problem is, it might be hard to find the right user, and most sales and customer success reps end up spending loads of time going from tab to tab to find the information they're looking for.
With Weld, this is no longer an issue, since we enable companies to move their Stripe data to their BigQuery, Snowflake, Redshift or other data warehouse, create their single source of truth for customer data, and move the data back to the SaaS tools they use the most. For instance, a salesperson would be able to see a customer's actual revenue number in Hubspot or Salesforce, and track metrics such as upsell potential, discounts, recent payments, etc. Similarly, Customer Success reps are able to get their customers' important financial information on their Helpdesk of choice, like Intercom or Zendesk. They can see, for instance, which accounts are at risk of churning by seeing failed invoice and payments on their users' profile in their helpdesk.
Be proactive with your outreach
Most would agree on the fact that "timing is everything". At least, it's a strong success factor in the business world. For sales and customer success teams alike, reaching out to customers at the right time and servicing them in a timely manner can often make the difference between a successful upsell or a churn. As detailed above, companies that sync their Stripe data to their helpdesk or CRM tools with Weld are able to view key revenue metrics in their favourite SaaS apps. This enables them to optimize a whole range of aspects of their day-to-day, but one of the most important optimizations they get to make is going from reactivity to proactivity in their outreach – from reaching out at the last minute to reaching out in a timely manner.
Because sales, support and customer success reps no longer have to look at 5-7 different tabs (or worse, ask around the company) to get a customer's key financial and revenue information, they're now empowered to be proactive. A customer has missed a few payments and is at risk of churning? No problem, the customer success rep can see this directly in Intercom and reach out before it's too late. The revenue generated from a customer is growing spectacularly? Great, the sales person can see this in their Salesforce account and proactively upsell new products and features.
Turbocharge your internal operations and reporting
While our Stripe integration certainly helps many companies with their commercial operations, as we touched on above, another added benefit that we see some of our customers enjoying is the transformation to their internal operations. For instance, you can use the real revenue data from Stripe, and automate the commission calculations and incentives schemes for your marketing, sales and customer success teams – directly in your CRM, success or support tool of choice. Or, you could calculate your payback period and customer LTV, and via your data warehouse, combine it with ad spend for the marketing team to understand their metrics and work on optimizing the performance of their campaigns.
Another added benefit of integrating Stripe with your data warehouse via Weld is to create your single source of truth in your data warehouse, and report with confidence. Get a true pulse on your financial health by combining your financial data in Stripe with other relevant data points in your data warehouse from the SaaS apps your company uses. This way, you can use our templates and quickly create your data models to track real revenue, MRR, ARR, churn rate, upsells, downsells, and much more – so you can skip the guesswork and really understand how your business is doing. When you have data that you can trust, especially when speaking about a topic as vital as financial metrics, you can be at ease, knowing that the numbers are accurate and you can focus on growing your business.
If this has resonated with you, or you have any questions or comments, feel free to reach out to us at email@example.com. You can also schedule a call if you'd like to learn more about our product, or how to create the best data stack for your business.