Integrations as a Key Strategy for Business Growth

by Endgrate Team 2023-07-27

The Integral Role of Integrations in Business Growth:

Integrations serve as a channel for acquiring new customers and provide ongoing benefits to existing and potential customers. They ensure that your app occupies a central place in the data ecosystem of your customers. In essence, integrations should be a part of your growth strategy early on.

Using integrations increases customer satisfaction and offers you a competitive edge in the market. This, in turn, leads to a surge in paying customers and enhanced customer lifetime value.

Let's delve into how integrations can influence key SaaS metrics and why outsourcing your integrations can be a catalyst for growth in 2023.

Integration's Impact on Revenue Growth:

One of the common questions encountered during the sales process is - "Can your application connect to 'X'?" Ideally, you'd want to respond with 'yes' or 'we can soon'. The reality is that customers and prospects expect your app to integrate seamlessly with their existing ecosystem. Failure to do so can serve as a barrier to sales.

Without an integration platform such as Endgrate, sales integration requests often get relegated to your developer backlog. They then compete for priority with other integration and product development requests. Each day that you lack the integration is a day lost in acquiring a paying SaaS customer.

The quicker you can build and deploy integrations, the sooner you can grow your sales pipeline, close deals, and expand your business.

Integration's Effect on Churn Rate:

The importance of managing customer churn cannot be overstated. Growth in 2023 isn't just about acquiring new customers, but also about maintaining a stable existing customer base.

Integrations can help in reducing churn. By intertwining your application with your customer's broader data landscape and offering value-added automation and processes, you solidify your app's position with the customer.

The more integrated and functional your product is, the longer customers are likely to stay.

Integration and Customer Acquisition Cost (CAC):

Customer Acquisition Cost (CAC) measures how much you spend and the effectiveness of sales and marketing efforts to win new customers. The time and resources spent on creating new integrations to secure new customers is undoubtedly a contributing factor to CAC.

Endgrate can help reduce your CAC by making your team more efficient and responsive. A decreased CAC means more available capital, and sales and marketing budgets can go further.

Integration and Net Promoter Score (NPS):

Your Net Promoter Score (NPS) is an indicator of your customers' experience with your product and can predict business growth.

Insufficient integrations can negatively impact your NPS. For instance, if an integration requires your customer to find a manual workaround or a third-party solution, it could lower their satisfaction levels.

An integration marketplace can boost your NPS score by providing users with solutions that already exist within your product. Users can easily install popular platform templates such as HubSpot, Shopify, Trello, etc., adding value to your product and, in turn, your customers.

Integration and Time to Value:

Time to value is a critical metric that measures how quickly a new customer can derive value from your product. It can also be an indicator of your onboarding and implementation process.

Integrations that are complicated and slow to deliver can directly impact your customer's time to value. Thus, effectively deploying integrations that are simple to set up and align with your customer's needs is crucial.

Why should Endgrate be Part of Your Tech Stack?

Instead of replacing your existing integrations—whether built-in-house or using tools like Zapier—we suggest expanding upon them and using them alongside an embedded integration platform like Endgrate.

Integration solutions can be categorized as follows:

  • Outsource: Implement a standalone solution that accomplishes the customer's integration off-platform, for example, Zapier.
  • Build: Write code from scratch to achieve each integration.
  • Design: Use a platform, like Endgrate, embedded within your platform to design integrations.

An embedded integration platform like Endgrate can extend your integration capabilities because the APIs you need are already built. With template integrations, you can replicate your popular use cases.

This can improve efficiency, meet customer requests faster, and build integrations swiftly with low-code tools. This means that anyone familiar with the data flow can achieve integrations and deploy them natively.

Endgrate can seamlessly integrate into your existing tech stack, connect with your existing applications, and become a lever for growth.

Talk to us at Endgrate about augmenting your integration strategy and fostering growth across your organization.