SaaS Product Managers Can’t Get Enough Metrics
SaaS product management and product marketing management processes are fundamentally different from traditional software management in so many ways. Metrics are infinitely more important to the SaaS product manager and the product management process, if for no other reason than the SaaS model inherently enables you to act so quickly to introduce changes to the market. If you have the metrics!
SaaS Optics provides an enormous number of critical SaaS metrics around which the SaaS product manager or product marketing manager can tweak and tune packaging, pricing, sales support, customer support, licensing, marketing programs, and even staffing decisions.
Examples of how SaaS Optics helps with SaaS product management.
- Correlate renewal rates by length of sales cycle, directing support and professional services to new clients who purchase below your minimum threshold sales cycle duration
- Review upgrade history by industry, initiating proactive marketing programs to industry segments that underperform relative to your typical upgrade or cross-sell metrics
- Inspect renewal rates by sales person or sales team, initiating additional sales training for those with weaker renewal records or possibly tweaking your hiring profile to hire more of the better performing profile
- Investigate correlations of upgrade, cross-sell, and renewal history with purchase of training, changing the packaging of your professional services to improve renewal activity
- Review cancellation rates by industry, formulating strategy changes in targeted marketing programs
- Correlate upgrade or renewal history with original lead source information, shifting marketing resources toward programs with better life cycle revenue performance
- Compare total contract revenues by industry, identifying untapped market opportunity by segment
- Review revenue performance by channel or geography, identifying superior performance and replicating elsewhere
With the ability to include custom fields in your registers and the ability to analyze revenues, bookings, and renewal information, SaaS Optics becomes the most important decision support tool for your SaaS product management.
Since it is easy to get information out of SaaS Optics, you can readily combine SaaS Optics performance metrics with important usage data from your production system for use in a third party analytics tools to help answer question like:
- Which application features correlate with the largest revenue producing segments?
- Which application features correlate with the best first, second or third year renewal rates?
- What usage patterns correlate with cancellations?
With this information, you can ensure your development teams are focused on building and maintaining the most important features - those that produce the most revenue!
