If there is no direct connection between the metric and your marketing goals, then you need to focus on something else.
Nevertheless, some metrics are essential for every SaaS company to track. Getuplead Saas experts has compiled the most important ones in this article. Here you have below:
#1 - Unique Visitors
Unique visitors are individuals that visit your website within a timeframe, not a session. During a session, an individual may visit the website multiple times. For instance, you may have 1,000 unique visitors in a month, but the sessions may rack up to 10,000. This shows that the audience is much smaller. Fortunately, Google Analytics is a great way to measure unique visitors. The tool is free, and you can refine the date and compare specific periods within the tool. It is advisable to check the number of unique visitors weekly before reporting it monthly. Measuring unique visitors is more pivotal to your marketing strategy growth than traffic. You can know that your audience is growing and your content resonates with them when. Furthermore, it is essential to understand how these unique visitors get to your site. Is it through organic search, referrals, social media, direct traffic, or paid media efforts? You can quickly identify the marketing activities that work best for you if you know the channels that drive the most traffic. And you can continuously optimize the ones that are not doing well for better performance.#2 - Leads
Leads is a broad term with several subcategories, including leads, sales-qualified leads (SQLs), and marketing-qualified leads (MQLs). What makes a prospect an MQL and not a SQL differs for every business. So, work with your sales team to define the three terms. Nevertheless, let's look at some general definitions. A lead is at the top of the sales funnel, and it refers to someone who is just starting their research. People who realize they have a problem but don't know the solution or people who have filled out a form on your website are all leads An MQL is a more qualified lead. This lead must have taken extra steps to look like an ideal prospect and qualify themselves as potential customers. For instance, a lead who has taken action like visiting your website multiple times or downloading one or two resources from your site is an MQL An SQL is more qualified than an MQL. Usually, SQLs are deemed to be ideal sales candidates based on their behavior on your website and their detailed profile information. In addition, an SQL will be past the initial research stage and probably evaluating vendors. A clear distinction between SQLs and MQLs is that the sales team must have deemed the SQL worthy of a direct sales followup The best way to measure leads is through a closed-loop marketing automation tool like Marketo or HubSpot. These tools not only measure leads. They help break it down into leads, MQLs, and SQLs subcategories. You can define the criteria for these subcategories in the tool automatically based on the user actions on your website. The essence of leads to your marketing goal cannot be overemphasized. Leads drive sales. It is essential to note that traffic is a vanity metric if you're not tracking the number of unique visitors converting to leads.#3 - Lead-To-Customer Rate
Lead-to-customer rate is also known as the lead conversion rate. This metric measures the number of leads that convert to customers. You can measure the lead-to-customer rate by taking the total number of customers you have for the month and dividing it by the total number of leads. Afterward, multiply that number by 100 to get the percentage. For instance, if three customers visit a website in a month from 300 leads, that is a 1% lead-to-customer rate. Lead-to-customer rate is essential for every SaaS company. And generating new customers is a task for both the sales and marketing teams. The lead-to-customer rate shows you your efficiency in generating sales-ready leads and the improvements or declines over time.#4 - Churn
Churn is the final metric discussed in this article. This metric shows how much business you lose within a specific period. In addition, churn measures the number of SaaS customers canceling their recurring revenue services. When measuring churn, you most likely would report it monthly. So, to calculate churn, divide the number of customers you lost in the month by the total number of customers you had at the beginning of that same month. Afterward, multiply by 100 to get a percentage. Churn is a natural part of any business. However, a high churn rate indicates that your SaaS business is in trouble. As a SaaS company, churn is one of the essential metrics to track. Many companies report churn in terms of customers or revenue.
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Mohammad
10/19/2022
Marketing
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