Why veterans are so well suited to the SAAS industry

Service leavers and vets are used to being deployed on missions, but how does that relate to a mission in SaaS? Here’s the industry explained. 

What is SaaS? 

It means ‘Software as a service’. Basically, these types of companies deliver applications over the internet so that other businesses can access powerful tools without having to install them. They usually offer a subscription service, meaning organisations can leverage these tools easily and simply, and without the need for maintenance or infrastructure management.  

The key to the success of these businesses comes down to six letters, that you may have heard people referring to. 

LTV and CAC

Basically, most customers won’t be profitable to the SaaS organisations for a number of months. Really, the platforms need customers to give a long term commitment, known as a Customer Lifetime Value. It’s crucial for the success of the business. 

CAC, or Customer Acquisition Cost does pretty much what it says on the tin. It refers to the total cost to the business to get that initial sale from the customer. 

It’s key that the SaaS company is monitering the LTV to CAC ratio. The lower the CAC, the higher the profitability. It’s important to ensure that they are happy enough with the service to subscribe for a long period of time, too. 

Where do veterans fit in?

This ratio is built on soft skills that many veterans have in abundance, thanks to their time in the military. 

You need to be mission centric, but also customer centric. Often a combination that’s hard to find in a candidate. 

Keeping CAC down 

An individual needs to have natural resilience, be hungry for success, collaborative, and ultimate able to reach solutions quickly for potential customers. These are mission-centric skills, that require a clear goal. 

These qualities are embedded within veterans from their time in the services. 

Developing a good LTV

This leans on a whole other set of skills that Service Leavers and vets have naturally. These are more customer-centric. 

Curiosity, integrity, empathy and a hard-working nature are all crucial to kepe customers satisfied and more likely to keep subscribing. 

Being natural problem solvers, vets have these quality and more, keeping customers satisfied and, ultimately more profitable. 

The LTV to CAC ratio is a mission that every SaaS company is working on, and service leavers are the perfect people to make a positive impact.

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