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Expansion MRR is the additional MRR that you get from your existing customers.
Expansion MRR is generated when your customer upgrade from a lower-priced plan to a higher-priced plan, purchase additional or add-ons products and reactivating a canceled subscription.
Time to value is how long it takes a new customer to realize the value they're expecting from your product or service. Optimizing for this metric will help companies grow exponentially.
There are various types of time to value like Immediate Time to Value, Time to Basic Value (TTBV), Time to Exceed Value (TTEV)
The North Star Metric is the primary metric that a company uses for its growth and it helps everyone in a company focused on one goal. North Star Metric must lead to revenue, reflect customer value and measure growth.
Startup investor Sean Ellis has coined the term "North Star metric".
Churn rate is a very important SaaS metric where customers pay on a recurring basis. If customer doesn't stay long enough to recover the customer acquisition cost (CAC) then it will be impossible to achieve growth.
The churn rate formula is: (Your lost customers ÷ Your total customers at the start of time period) x 100
The customer journey is the process by which a customer interacts with a product for achieving certain goals.
Understanding customer journey can help us address the customers’ pain points along the way, leading to a happy customer experience.
A product qualified lead (PQL) is a lead who has got some value while adopting your product during the free trial period and are more likely to convert.
PQL convert upwards of 20% as it's mostly interlink to experiencing an aha moment in your product.
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