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Understand business metrics & analytics for SaaS?
I'm building a SaaS product & need to understand business metrics terms & analytics that I should be aware of, as I build this (such as measuring "MRR", "stickiness", etc). Can someone please suggest a good resource for learning the same ?
Business metrics and analytics are important for any business, but they are especially critical for Software as a Service (SaaS) companies. SaaS businesses typically rely on a subscription-based revenue model, so it's essential to track key performance indicators (KPIs) that indicate the health and growth of the business. Here are some important business metrics and analytics that SaaS companies should track:
Monthly Recurring Revenue (MRR): This metric measures the total amount of revenue generated from recurring subscriptions on a monthly basis.
Customer Acquisition Cost (CAC): This metric measures the cost of acquiring new customers, including marketing and sales expenses.
Lifetime Value (LTV): This metric measures the total revenue generated from a customer over their lifetime.
Churn rate: This metric measures the percentage of customers who cancel their subscriptions in a given period.
Net Promoter Score (NPS): This metric measures customer satisfaction and loyalty, it can be used to track customer retention and satisfaction.
Retention rate: This metric measures the percentage of customers who remain subscribed to a service over a given period.
Gross Margin: This metric measures the difference between revenue and cost of goods sold (COGS) divided by revenue.
Monthly Active Users (MAU): This metric measures the number of unique users who have logged into the software in a given month.
Annual Run Rate (ARR): This metric is used to project the future revenue of a business. It is calculated by multiplying MRR by 12.
By tracking these metrics, SaaS companies can gain insights into the health and growth of their business, identify areas for improvement, and make data-driven decisions to drive revenue and customer satisfaction. Additionally, SaaS companies can also track other metrics such as Funnel Metrics, Engagement Metrics, and Metrics for specific features to gain a better understanding of their business.
Thanks
Technest
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