Every successful business measures a set of metrics it uses for making decisions. Retailers look at a metric like revenue per store to tell them how business is at each store. If they have a store that is unprofitable, they can close it and cut their losses or wait awhile to give it time to turn a profit. (They can use historical data to see how long it takes a store to become profitable.)
Retailers also use a metric called sales by product category. Using this data, they know which products are the most successful, and thus where to apply their efforts. Target Corporation, for instance, wouldn’t want to expand their hardware departments if every store had trouble selling tools. Without these metrics, retailers are left in the dark and have no data on which to base their decisions.
It’s no different when running a SaaS business. Every SaaS company needs a core group of metrics to track. Metrics that provide useful data can present a clear picture, and, ultimately, contribute insights that can grow the business.
Here's what it includes:
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